×

‘We Have Gifted Nigerian Youths,’ Tinubu Seeks More Investment From Meta

Since assuming office in May, President Bola Tinubu's administration has commenced a massive investment drive.


President Bola Tinubu receives a delegation from Meta Platforms Incorporated, led by Sir Nick Clegg, former UK Deputy Prime Minister and Meta’s President of Global Affairs, at the State House in Abuja on March 21, 2024.

 

President Bola Tinubu has renewed his drive to attract more foreign investments in Nigeria, expressing confidence in the ability of the young population.

The President who received a delegation from Meta Platforms Incorporated, led by Sir Nick Clegg, former UK Deputy Prime Minister and Meta’s President of Global Affairs, at the State House in Abuja on Thursday, said the nation has gifted youths who need to be invested on.

He reiterated his administration’s commitment is sustaining investments in digital technology to enhance the sustainability of small businesses, expand opportunities across sectors, and propel Nigeria to become the lodestar of information and communications technology in Africa.

“For us in Nigeria, we have a vibrant, gifted, and resourceful youth population. Recognizing that the future is most likely to be AI-enabled, we have to prepare our youths and make them ready to compete and participate in the global economy,” Tinubu was quoted as saying in a statement by his spokesman, Ajuri Ngelale.

“I can assure you that Nigeria is open for business. We want to lead the African continent in digital technology. Data is valuable to our development. We are ready to cooperate on technological advancements. It is the only way to go. We need a collaboration that will be a win-win for all,” President Tinubu said.

 

READ ALSO: Why Vessels Caught In Oil Theft Are Destroyed – Tantita Security Director

According to him, Nigeria cannot afford to be left behind in this age of technological advancements hence his administration is opening up channels of opportunities in information and communications technology, deepening capacity, and fostering partnerships.

 

Emphasizing the importance of technology in driving small businesses, the President said he is committed to ensuring that technology is deployed, adapted, enhanced, and used to catalyze growth across a vast majority of micro-businesses, spurring mass prosperity down the line.

“What interests me is the use of technology in the development of small businesses. We need to make the business environment more conducive for you and more profitable for us as well. I hope we can collaborate and continue to promote our mutual interests,” President Tinubu told the delegation.

In his remarks, Sir Clegg thanked the President for an executive order he issued, which enabled the landing of the Meta-backed deep-sea cable in Nigeria.

 

He said, “It is an extraordinary infrastructure project. When it comes on stream in the first quarter of 2025, it will be twice as much as the capacity of all subsea cables that exist. We buried the cable 50 percent deeper than any other subsea cables under the seabed. It is more powerful and more extensive in terms of its geographical connectivity. It could yield up to 37 billion dollars worth of increase in economic activity in the next two or three years across the African continent.”

Sir Clegg also said Meta will introduce in June 2024 a feature on its Instagram app that will allow Nigerian creators to monetize their content to enable them to earn a living using the app.