The Lagos Chamber of Commerce and Industry has cautioned that Nigeria might relinquish its standing as Africa’s premier technology center unless the government fast-tracks policy adjustments, improves digital infrastructure, and fosters a stable regulatory climate. During the 12th ICTEL Expo 2026 in Lagos, LCCI President Engr. Leye Kupoluyi highlighted that while the digital economy drives growth in the non-oil sector, regulatory instability is hindering its progress.
Kupoluyi noted that the ICT sector represented 10.07 percent of Nigeria’s real GDP in 2025, rising from 9.79 percent the previous year, with telecommunications forming the bulk of that figure. By April 2026, the nation saw 154.7 million active internet users and 188 million mobile connections, with broadband penetration reaching 55.67 percent. Despite these figures, Nigeria fell to fourth place in African startup funding in 2025, trailing Kenya, South Africa, and Egypt.
The LCCI head argued that infrastructure expansion is insufficient without better access to capital and consistent policies. He urged the government to treat broadband as a critical public utility, enforce the Nigeria Startup Act, and streamline regulations to eliminate excessive taxation and currency exchange barriers that currently inflate operational costs.
