What future awaits the nation’s tech sector, looking at potentials and opportunities?
The tech sector currently contributes around 15 per cent to Nigeria’s GDP – even with the already-mentioned issues in the country. Liquid continues to invest in the country’s infrastructure, and we are not the only ones doing so – (the executive vice chairman of the Nigeria Communications Commission), Prof Umar Danbatta, mentioned recently that the country’s telecommunications sector has attracted about $70 billion in investments. So, Nigeria’s infrastructure will continue to grow. This will open all sorts of possibilities for the tech sector to grow, especially if the collaboration between the public and private sectors continues to work towards empowering companies and entrepreneurs with connectivity.
How critical is internet connectivity to the realisation of AfCTFA objectives, especially in Nigeria?
Connectivity plays a critical role in the realisation of free trade objectives. Liquid Intelligent Technologies’ main role is to provide a seamless, reliable, and secure connection between locally based parties, facilitating ease of trade and movement of services and goods back and forth. Liquid remains committed to investing in connectivity and supplying products and services for participants using the AfCFTA. Another initiative that Liquid is involved with is the close collaboration with other regional organisations to aggregate regional connectivity, another substantial factor in trade facilitation.
Nigeria is credited as having one of the most sought-after tech talents globally. These talents are leaving the country on a daily basis for greener pastures abroad. How can the country retain them? Do you think having the right infrastructure such as strong internet connectivity could also be instrumental?
To retain top-tier talent, you need a talent-conducive environment that creates opportunities for the ‘cream of the crop’ to want to work in these world-class companies. For that to happen in Nigeria, a number of things need to change.
First, before even looking at retaining talent, we need to look at training talent for the future through the school curriculums to produce the sought-after tech talents Nigeria needs. Once they are in the employment market, businesses must create a favourable work environment.
To retain tech talents, we must offer them opportunities for career development, learning, and skills – not just on-the-job training, but academic too. Workers must be provided with opportunities to upskill and gain qualifications. Today, most people are self-taught. Companies in Nigeria need to invest massively in training and development programmes because skilled talent, especially in the tech industry is in high demand globally.
There are around 200 million people in Nigeria and about half of them are under 25. If the segment of the population entering the work environment is properly equipped with skills, and companies are providing opportunities and training, Nigeria could have a talent pool that fulfills local needs and benefits international employers.
Finally, there is the issue of competitive compensation because no one is going to stay in a job when they can get better salaries and opportunities elsewhere. Top-tier workers need to be able to earn competitive salaries in Nigeria, or they will look abroad.
What role is Liquid Nigeria playing to ensure that we have strong internet connectivity in the country that is fast, seamless and affordable?
Liquid is committed to a digitally transformed Africa that leaves no one behind. This is a philosophy that is central to everything we do. It is the reason that we continue to invest heavily in digital infrastructure.
Nigeria’s infrastructure is steadily growing, and Liquid is playing a large part in this. We are the best peered network in Lagos. We are part of the consortiums at the centre of subsea cable connections – the Equiano Sea cable being one among many – that put us in the middle of regional development. Liquid also has the largest independent fibre deployment on the continent – over 110,000 km of it stretching right across Africa.
All these contribute to growing internet connections in terms of landing stations and distributing connectivity inland. Liquid is working hard to provide internet access to as many Africans as possible.
Will you say it is all rosy to set up your business in Nigeria and be profitable?
Nigeria is a great country with a unique economy that needs to be understood. We have done our due diligence to understand its economy and know how to navigate by managing risks very well. Liquid knew the terrain when we set up our business in Nigeria. We are still investing and know we will make a profit because it is a long-term game. If you look at Nigeria today, there are a couple of big telecom companies struggling with profitability and sustainability. But there are also companies – and Liquid is one of them – that are growing in leaps and bounds in the same area.
It all comes down to how you manage all the risks around the business. Like any other business, if you manage it well, you will make a profit. If you do not manage it well, then you will go out of business. Liquid has a very robust management structure, good governance, and the right ingredients to make it successful and profitable in Nigeria. We are doing well.
What can the government and relevant stakeholders do to enhance strong national internet connectivity that will be instrumental to foreign investment in the nation’s ICT sector?
It is crucial for the government and the private sector to work together to make sure that businesses have access to reliable, fast, and secure connectivity. This is not just essential for business and economic growth; it is a necessity for every individual in our digitally transforming country.
There are several ways they can make a positive impact. To begin with, harmonising and standardising the right-of-way process – by creating a consistent and straightforward approach for obtaining right-of-way permissions, we can speed up infrastructure development and avoid unnecessary delays.
Licensing procedures need to be streamlined, making it easier for telecom companies and ISPs to offer connectivity services without drowning them in paperwork.
Government should make it a priority to make it easier to build the necessary facilities. We are talking about cell towers, fibre optic networks, and data centres. Reducing administrative barriers and promoting partnerships between the public and private sectors would be a big help, as would incorporating connectivity infrastructure into public work projects. When the government is building roads, bridges, and utilities; it should also lay the foundation for connectivity.
Additionally, tax cuts to infrastructure providers would provide incentives for companies to contribute to the public good. Steady supply of power is a challenge in Nigeria. Many African nations face this, and governments in those countries need to work towards providing steady and reliable power through the national grid.
Finally, as I mentioned earlier, governments need to equip children with the skills for a digital future – and they can do this by providing a school curriculum that teaches them the necessary skills.
What future do you foresee for Liquid Nigeria in the scheme of things in this country? Any expansion moves?
Liquid has already established a solid base on which to build. We have launched a world-class data centre in Lagos to address the growing demand for cloud storage and digital services on the continent. Our partnership with highly reputable global brands like Microsoft, Cloudflare, Oracle and AWS means our customers are getting the best-in-class services from us.
We have the largest independent fibre network on the continent. We offer scalable solutions for businesses and organisations of all sizes – cyber security, cloud, data centres, and more – and we have partnered with globally renowned companies to provide our customers with world-class solutions and services, as well as provide connectivity infrastructure.
We have a toehold in Nigeria, so there is a massive expansion plan in place that will see us becoming a leader in this space in the next five years – we are going to be a digital transformation powerhouse.
