By Oluwatobi Opusunju
CNN’s presenter, Richard Quest who is famously known with theme business features: Quest Means Business on CNN, believes technology, more than any other thing else, holds the key for creating new wealth among Nigeria’s string population of young people even as the country battles to get out of recession,
Quest was in Nigeria recently and spoke with top decision makers including ministers and industry leaders in the banking and oil industries. His findings are already running on the global satellite network as ‘Nigerian Crossroads.’
Impressed with Nigeria’s love and use of technology in spite of infrastructure challenges, Quest said Africa’s most populated country of 190 million people needs to leverage on technology to widen opportunities for more people at the lower and middle class brackets.
“Nigerian businesses need to create solutions to the problems of those below the middle-class belt. They currently constitute a larger percentage of the current population in Nigeria. Every business needs to tap into this market and grow their market base. Technology has a way of creating wealth throughout the economic chain,” he said.
He went further to say that the country needs to start producing what it consumes as great potentials lies in Nigeria’s technology industry and also with the right infrastructures in place, 80% of the country’s problems could be solved.
“Computer village is known for being the home of gadgets in Nigeria. The sad reality is that they don’t create, develop or manufacture these gadgets. With the establishments of companies like Afrione — Nigeria’s foremost smartphone assembly plant — more potential lies in technology for Nigeria. Technology has the capacity to solve 80% of Nigeria’s problems if the right structures are built,” said Quest.