The Nigerian government has partnered with Swedish telecom giant Ericsson to drive 5G technology development, innovation hubs, and digital transformation for economic growth.
The collaboration was formalized by the signing of a Memorandum of Understanding (MoU) during Vice President Kashim Shettima’s visit to Ericsson’s global headquarters in Stockholm, Sweden.
The MoU lays the groundwork for cooperation in the development and deployment of 5G technology in Nigeria, Africa’s most populous nation.
The purpose of the MoU is to drive digital transformation across various sectors, enhance economic growth, and improve public services through advanced 5G technology. The partnership also seeks to foster innovation, with plans to establish tech incubators and innovation hubs to boost Nigeria’s burgeoning digital economy.
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Globally, Ericsson has been at the forefront of 5G technology. With this partnership, Nigeria is positioned to become one of the leading adopters of 5G in Africa.
The deployment of 5G is expected to revolutionize industries by providing faster internet speeds, improved connectivity, and enabling the use of advanced applications such as the Internet of Things (IoT), smart cities, and more efficient agricultural practices.
Vice President Shettima, accompanied by senior Nigerian officials, including Minister of Communications, Innovation, and Digital Economy Dr. Bosun Tijani, emphasized the importance of digital technology in Nigeria’s economic reforms.
The delegation’s visit to Ericsson’s facilities showcased the company’s cutting-edge 5G solutions and their potential to address critical areas such as security, infrastructure, and service delivery in Nigeria.
As part of the agreement, Ericsson also committed to investing $19 million in a technology hub in Nigeria, which will focus on training local talent and driving technological innovation. This initiative is expected to create job opportunities and position Nigeria as a global player in the tech industry.
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Shettima also met with Norrsken, a venture capital firm with headquarters in Stockholm, which just launched a $205 million tech investment fund, Norrsken22, with the goal of assisting African entrepreneurs. About 40% of the fund’s investments would go to tech entrepreneurs in Nigeria.
