Nigeria plans to improve ICT infrastructure to meet international standards

9 August 2011

Nigeria has announced it wants to improve its ICT infrastructure and upgrade the technology of the Nigerian Stock Exchange (NSE) in order to boost its economy.

This Day Live reported that Oscar Onyema, chief executive officer of the NSE, has revealed intentions to develop the equipment to compete with international benchmarks.

The news source reported him as saying: "We have already taken a commercial outlook. We are looking at upgrading our technology to 21st century standards."

Mr Onyema stated that this will help the NSE achieve the target of a $1 trillion (£614 billion) market capitalisation over the next five years.

Improving ICT infrastructure will encourage more investors to put money in the market, which will stimulate Nigeria's economic growth, he went on to say.

Nigeria was among three nations found to have the top ICT sectors in the continent recently after Africa Business Panel revealed its technology infrastructure, along with South Africa's and Kenya's, was growing at a fast rate. 

Category: ICT