A reflection on the forthcoming general election and thoughts on sustaining the budding technological development in Nigeria.
The Nigerian general election will be held in 2023, a time for citizens to elect a President, Vice President, Federal Senators, members of the House of Representatives, state Governors and members of the state houses of assembly in all 36 states. In the round, these elected officials will affect governance, legislation, policies etc., at federal, state and local levels, in the next four to eight years.
As technology enthusiasts, we want to ensure an enabling business environment where technological development can thrive. Therefore, this is an opportunity to reflect on how we can encourage the tech community to include the technology-related experience of aspirants when evaluating the credentials of candidates to vote for in 2023.
Focusing on the presidential aspirants, as they wield significant influence in the Nigerian democracy, in the run-up to the 2023 elections, Nigerians must get to know the different presidential aspirants. And from our perspective, tech practitioners and enthusiasts must understand the technological views and precedents of the aspirants. This is vital because we live in a technological age, and technological development is needed to boost the economy. The arduous task of renewing the Nigerian economy awaits the winner of the 2023 presidential election. We believe only a tech-savvy president can lead any meaningful economic growth or development in today’s world.
When publishing this article, the party primaries are yet to occur; the Nigeria Independent National Electoral Commission (INEC) has set a June 3 deadline for political parties to pick candidates for the 2023 elections. This is a non-partisan opinion. All we ask is that citizens “shine their eyes” ask yourself about the experience of the candidates; are they tech company owners or investors? Any supporters of tech entrepreneurs in the recent past? Any indicator that an aspirant is tech-savvy? Do they understand technology’s importance, or have they included technological development in their manifesto?
Here are some examples of technology-savvy presidential aspirants. These are just examples; partisanship is not intended; please feel free to leave your comments about other aspirants with a technology-related track record.
Yemi Osinbajo
So far, as the Vice President and Head of the federal government’s Economic Management Team (EMT), Yemi Osinbajo has shown himself through his deeds to be a great supporter of technology. In 2018, for example, during the commissioning of Vibranium Valley in Lagos, Osinbajo waxed lyrically about his belief in technology. As reported by the Guardian, he said the future of Nigeria is neither solid minerals nor oil but technology and innovation. Nigeria needs to take a disruptive approach to become Africa’s first “start-up Nation”.
As reported by Daily Trust, Osinbajo believes that the only way to combat poverty in Africa is through investment in tech. Friends of Osinbajo, through the March 8th initiative since 2019, have also supported entrepreneurs, especially in tech, with the opportunity to expand their businesses via business grants. According to Vanguard Jan 2022, the federal government economic team led by Osinbajo, in partnership with various organisations, is looking to invest $500 million into technology and creativity.
In 2018, the VP visited Silicon Valley. He met with the CEO of Google, the Co-founder and VP of LinkedIn, and visited Hollywood to discuss with other investors about technology in Nigeria. There is no doubt about the interest Yemi Osinbajo has in technology as a way of propelling Nigeria’s economy.
Peter Obi
A world-class businessman, Peter Obi is a serial investor and juggernaut in the corporate world. He was the chairman of Fidelity Bank Plc, one of the leading banks with cutting edge payment solutions. The bank runs the Fidelity Tech Ignite programme, which looks to facilitate growth and scale-up for tech-focused SMEs in Nigeria. In 2015, Peter Obi was appointed as Nigeria’s Security and Exchange Commission (SEC) chairman.
Peter Obi has also been involved with and held different top positions in other private organisations. Some of the organisations are Guardian Express Bank PLC, Paymaster Nigeria Ltd, Data Corp Ltd, Card Centre Ltd, Chams Nigeria Ltd and Future View Securities. Over the years, Peter Obi has talked about investment in technology to develop the nation’s economy.
Chukwuka Monye
Although not one of the super-popular aspirants, Chukwuka Monye is no stranger to the tech community. He is a renowned social innovator who has contributed to building many businesses. He is the founder of Ciuci Consulting, a leading multinational operations management consulting firm.
Monye started the iQube initiative, a knowledge-sharing platform created for young innovative entrepreneurs. He firmly believes that the growth of Africa must be propelled via the building of sustainable enterprises. His company, Cuici Consulting, has worked on more than 400 companies to develop strategic roadmaps for them.
Kingsley Moghalu
Moghalu served as the Central Bank of Nigeria’s deputy governor in charge of Financial System Stability. He was also the deputy governor in charge of operations. He had supervisory responsibility for branch operations, currency, payment systems, and foreign reserves management. It is important to note that Moghalu led the exodus of reforms on payment systems, including introducing and developing the Bank Verification Number (BVN).
Moghalu founded Sogato Stratrgies LLC, an investment advisory firm. He sits on the ‘Opportunities Industrialisation Centres International’s board, a non-profit organisation for global entrepreneurship development. With what he was able to achieve at the CBN with the introduction of BVN, Moghalu is one of the few aspirants well-grounded in technology.
Bukola Saraki
As the Senate President, Bukola Saraki paid attention to tech and always talked about technology as the way forward for Nigeria. According to Premium Times, Saraki as the leader of the Nigeria Senate, made many legislative interventions, including the passing of the Electronic Transactions Act. He focused on creating opportunities for SMEs to gain access to much-needed capital. He also advocated for the growth of digital financial technology.
As reported by Daily Trust, Saraki, again in 2021, hosted experts to discuss the untapped economic potentials of financial technologies. According to Tech next, in 2019, the former Senate President held various meetings in New York with venture capital firms looking to invest in the fintech sector of Nigeria. Saraki has reportedly tried to look out for the fintech sector; this is highlighted by the Electronic Transactions Bill and Financial Consumer Protection Bill. These Bills were okayed by the Senate under him but not assented by President Buhari.
Final thoughts
We have touched on the importance of the 2023 general election and given some examples of tech-savvy presidential aspirants. Please share your comments on other aspirants that have impacted technological development in Nigeria. At AKINGATE, we are passionate about technological development. We would like to see a more conducive business environment in Nigeria where tech ideas and growth can thrive and are encouraged for the good of humanity and national development.
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