With the successful enactment of the Nigeria Startup Act, Nigeria is positioning itself to be not only a hotbed of tech innovation but also the home of tech companies that have a global impact. In our conversation with Oswald Osaretin Guobadia, the Former Senior Special Assistant on Digital Transformation to the President of the Federal Republic of Nigeria, we discuss, among other things:  Nigeria’s business landscape; the importance of co-creation; why trying to ‘leapfrog’ can be a misguided approach; and what Caribbean countries can learn from the Nigerian experience.

 

This episode is also available on SoundCloud, Apple Podcasts, Google Podcasts, Spotify, Amazon Music and Stitcher!

Countries aspiring to become “The Next Silicon Valley” is not new. It is a phrase often used by policymakers worldwide, including in the Caribbean, with Silicon Valley in California, in the United States of America, being held up as the gold standard of tech innovation and entrepreneurship.

However, very few cities, such as Beijing, Boston, New York City, Paris, Seoul and Tokyo – all of which are developed countries, have been able to successfully become hotbeds for tech innovation. However, countries in the Global South, especially in Africa, have been positioning themselves to also be considered tech innovation powerhouses. One of the countries that has been gaining visibility is Nigeria.

A country of over 200 million and having the largest economy in Africa, Nigeria is being hailed as the leading tech location in West Africa. In 2022, the country passed the Nigeria Startup Act to improve the enabling environment for tech innovation and to foster fledging tech ventures into lucrative and global businesses. 

This episode of the podcast is an instalment in our Tech in Africa series, in which we are discussing the Nigeria Startup Act with a view to identifying possible lessons Caribbean countries (and even the region as a whole) can learn to improve tech innovation and entrepreneurship.

 

Introducing our guest

Oswald Osaretin Guobadia

Former Senior Special Assistant on Digital Transformation to the President of the Federal Republic of Nigeria, Oswald Osaretin Guobadia designed, developed, and executed the Nigeria Startup Act (NSA) program to drive the growth of Nigeria’s tech ecosystem and digital economy.

Oswald has over 25 years of experience demonstrating strong business and financial acumen, mapping out strategic visions, providing oversight and leadership on business transformation initiatives, IT strategy, digital technologies, and enterprise networks, successfully guiding businesses through dramatic growth, and ensuring the efficient use of resources and financial controls to deliver exceptional business results across new and emerging markets.

With a proven track record of overseeing high-end international projects in the public and private sectors from planning to completion, identifying and putting into practice opportunities for simplification, efficiency, and enhancement, and driving business process improvements, customer satisfaction, cost savings, and revenue growth.

Currently, Oswald serves as Board Member at EdoInnovates, a leading innovation center in Benin City, Nigeria dedicated to leveraging technology for job creation and enterprise development – testament to his ongoing commitment to fostering tech innovation and entrepreneurship throughout Africa.

Oswald holds a Master’s degree in Telecommunications/Computer Science from Pace University and a Bachelor’s degree in Biology from Wesley College. His thought leadership on entrepreneurship, technology and digital transformation is showcased through his authored publications.

 

Insights into our conversation

Creating the enabling environment for tech innovation to thrive is a construct that many countries desire but few have conscientiously established the requisite systems for it to be realised. It is thus instructive to be reminded of what it takes to do so, as often we tend to get side-tracked by perceived challenges and roadblocks before we get started, and essentially, talk ourselves out of doing what needs to be done.

One of the biggest takeaways from this conversation is the importance of having the requisite will and support, particularly of the public and private sectors, to move with alacrity from what would have been a noble concept to a comprehensive and actionable framework that is currently in the process of being implemented. Across the English-speaking Caribbean, in particular, we all know that the legislative process tends to be protracted, often taking years to move from initial proposals or discussion documents (Green Papers) to laws that are in effect. If the will is there, much can be achieved.

Below are key questions posed to Oswald during our conversation.

  1. To start, tell us a bit more about yourself, and your role in the development of the Startup Act?
  2. Can you give some insight into Nigeria’s business landscape
  3. What were the deficiencies or challenges in Nigeria’s business sector that was the impetus for the SUA?
  4. Since the Act received Presidential assent in October 2022 and took immediate effect, what has been the response from the Nigerian business community?
  5. The SUA required a comprehensive ecosystem to be established. What is the state of the various entities to facilitate funding, regulations, accelerators, incubators, tech development zones, etc.?
  6. What could Caribbean countries learn from the Nigerian experience?
  7. Suppose a Caribbean country, or even the Caribbean region as a whole, wants to implement a pared-down version of the SUA ecosystem Nigeria is building. What should be essential/non-negotiable areas that must be included?

 

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Also, if you or a member of your network is interested in joining us for an episode, do get in touch.

Let’s make it happen!

 

Select links

Below are links to some of the organisations and resources that either were mentioned during the episode or otherwise, might be useful:

 

 

Images credit:  O O Guobadia; RDNE Stock project (Pexels);  RF._.studio (Pexels);  Cytonn Photography (Unsplash)

Music credit: The Last Word (Oui Ma Chérie), by Andy Narrell

Podcast editing support:  Mayra Bonilla Lopez