The Acting Director-General of the Nigerian-American Chamber of Commerce, Ms. Wofai Samuel, has emphasized that Nigeria’s technology sector cannot flourish without a reliable power supply.
In an interview on Monday, she stressed that power and technology are deeply interconnected, and that resolving Nigeria’s persistent electricity challenges is essential for meaningful progress in the tech sector, according to NAN.
Samuel noted that reliable power is a cornerstone for national development, particularly in a digital economy.
“Without power, how do we even drive technology? So, power is correlated to technology. Technology is correlated to power.
‘’Given the current global trade landscape, particularly with tariffs imposed by America on various countries and the potential limitations of the African Growth and Opportunities Act (AGOA) for African exports, technology is a key avenue for diversification.
“One of the easiest ways, one of the easiest platforms West Africa can diversify into is the technology sector,” she said.
She emphasized that global technological advancement is being powered by widespread internet access and data utilization.
She pointed out that developed countries are using technology as a key driver of economic growth and innovation.
Samuel called on Nigeria and other African nations to adopt similar collaborative approaches, urging them to learn from global models.
She referenced Saudi Arabia’s recent $600 billion investment in the U.S. tech industry as a powerful example of how strategic international partnerships can accelerate technological progress.
“An example of America’s collaborative efforts is the recent investment of approximately $600 billion by Saudi Arabia’s Crown Prince in the U.S. technology sector to advance its technological capabilities.
“If America is collaborating with other regions and countries on advancing the tech sector, whereas America is the biggest tech sector, then who are we in Africa not to follow suit?” she asked.
She further cited the dominance of U.S. tech giants—including Meta, Google, Tesla, and X—as well as breakthroughs in Artificial Intelligence such as ChatGPT and Meta AI, as evidence of technology’s transformative power.
Using the Nigerian banking sector as a case study, she illustrated how technology has already proven its ability to drive growth, enhance efficiency, and reshape service delivery.
Samuel referenced the World Bank’s projection that banking and fintech would be among Nigeria’s fastest-growing sectors in 2025, attributing this outlook to innovations in online and mobile banking that are redefining the delivery of financial services.
Ms. Samuel urged African tech platforms to leverage technology-focused conferences both within and beyond the continent to build strategic partnerships and boost their global visibility.
