FG to Establish ICT Development Bank

 In Investor News

The Federal Government will soon establish a specialised Bank to cater to the development of the Information and Communications Technology industry, the Minister of Communications, Mr. Adebayo Shittu, has said.

Shittu, who said this at the 13th International Conference of the Nigeria Computer Society in Abuja on Tuesday, also disclosed that the proposed ICT University will take off in September.

Justifying the decision to establish an ICT Development Bank, Shittu said the regular Banks could not cater to the needs of operators in the ICT industry because of the time it usually takes to develop ICT products and services from conception to the market.

The minister said the proposed Bank was provided for in the ICT road map, which had been approved by the Federal Executive Council.

“I am happy to inform you today that the Information and Communications Technology Roadmap has been approved by the Federal Executive Council. The ICT roadmap is a fundamental component of the Economic Recovery and Growth Plan 2017-2020 of the Federal Government,” he stated.


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