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PIN: Tech investors prefer hardware, software segments of Nigeria ICT industry

PIN: Tech investors prefer hardware, software segments of Nigeria ICT industry
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The hardware and software segments of the Nigerian ICT industry continue to get more attention from investors and the tech-savvy community, a new report by Paradigm initiative of Nigeria (PIN) has revealed.

[blockquote right=”pull-right” cite=”Charles Ikem, Research Analyst at PIN”]Data collected from 130 Nigerian companies indicated that the South-West region has the highest concentration of companies in Nigeria with 51 per cent and North Central has the least representation with 2 per cent. [/blockquote]

Gbenga Sesan, Director of PIN
Gbenga Sesan, Executive Director of PIN

Based on the research by the social enterprise of the Nigerian ICT industry, PIN, the hardware and software sectors account for more than 50 per cent share of the total of nine ICT business categories tracked followed by IT and capacity building with 12 and 10 per cent respectively.

Charles Ikem, Research Analyst at PIN, who dropped this hint at the map viewing sessions of the Nigeria ICT ecosystem held recently at the Idea Hub Lagos, underscores the need  for  investors to have a source where they could get useful information about the Nigeria ICT ecosystem.

“We felt the industry is dissociated from itself and there is a lot of chaos in the industry. That is what promoted us to do a map that include virtually all the ICT companies in Nigeria”, Ikem said.

Data collected from 130 Nigerian companies indicated that the South-West region has the highest concentration of companies in Nigeria with 51 per cent and North Central has the least representation with 2 per cent.

When asked about the small data representation of the ICT companies in Nigeria, Ikem told Technology Times that “although the map is not a full representation of all the players in the Nigerian ecosystem but PIN has set the pace, so we enjoin all stakeholder to opt into the system by giving us their data  so that we can have full  and representation of the Nigeria ICT ecosystem.”

According to him, ”what we want to do is to build a better map with full representation of the ICT companies and the next version will be much better.”

PIN hopes that the map will  not only serve as a reflection of  the Nigeria ICT ecosystem but  also the  serve as a guide to investors to know the areas  where ICT is trending and which company they can form alliances with.

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Kolade Akinola Technology Journalist at Technology Times Mobile: + 234 (0) 807 401 6027

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