Technology focused Innovation Hub project, SmartCity is targeting no fewer than 50,000 direct jobs in the country in its first five years. This is also as it promises to keep galvanizing economic diversification and moving Nigeria towards a knowledge-based economy.
Promoters of the initiative, including the Federal Ministry of Communications Technology, National Information Technology Development Agency (NITDA), Nigeria Computer Society (NCS), and the Association of Telecommunications Companies of Nigeria ATCON, disclosed this in Lagos recently at a private presentation of the project to technology industry stakeholders.
Bold Move
Conceived in 2011 for development in Lagos and Abuja, Promoters of the SmartCity Innovation Hub described the project as a bold move to bring together technology, government and society in ways that promote the culture of innovation and the competitiveness between allied businesses and knowledge-based institutions.
The holding company for the project is SmartCity Resorts Plc, an investment and infrastructure company dedicated to creating modern real estate and infrastructure projects that allows people to live, work and relax in more pleasant and productive ways.
Cited within same locality as the Pan Atlantic University (PAU) and proposed developments such as Lekki Free Trade Zone, Lekki International Airport, Deep Seaport Project, and Dangote Petrochemical Project, the innovation hub is being developed on a 48 hectare land allocated by the Lagos State Government.
Chairman, SmartCity Resorts Plc, Sir Demola Aladekomo, said the hub is an A-grade technology development infrastructure which will prime the local technology industry for global competitiveness, galvanizing it from crass consumerism towards innovation and world class manufacturing standards. Upon completion, it has the potential to create about 50,000 direct employments in its first five years.
It will be the Nigerian equivalent of the Silicon Valley in the United States of America, which is home to many of the world's largest technology corporations and thousands of tech start-up companies. It is beyond doubt that Silicon Valley is the world's leading hub for high-tech innovation and development, and has been pivotal to the global information technology revolution.
Technology City
"For the benefit of the Nigerian economy and the local technology industry, we are working with policy makers, regulators, technology corporations and venture capitalists to recreate the same prototype in Nigeria. Collectively, the objective of all stakeholders on the project is to build a technology city that will be a magnet for technology-led investment, innovation and talent, making it one of the top destinations for technology companies, entrepreneurs and investors on the African continent. The SmartCity Innovation Hub will engender economic diversification and will move Nigeria towards a knowledge-based economy birthing a prosperous, productive and innovative nation."
Also, Managing Director, Greenwich Trust Limited, the Financial Advisers to the project, Mr Kayode Falowo described the project as well rounded and viable with the prerequisite support from government, regulatory bodies and industry stakeholders. He added that international development funding institutions and local financial institutions are willing to lend developmental and operational support to the project.
Commending the initiative, Lagos State Commissioner for Science and Technology, Mr. Adebiyi Mabadeje, commended the promoters of the project and spoke on government's readiness to lend support to it within the ambit of its power.
New Urban Development
Affirming this, Mr. Funmi Oshinfuye, who represented the Lagos State Commissioner for Physical Planning and Urban Development, disclosed that the project aligns with the overarching vision of the ministry to transform Lagos State into a megacity through new urban developments that are eco-friendly and socially inclusive.
Already, leading technology corporations that include Microsoft Corporation, Zinox Technologies Limited, MainOne Cable Company Limited, Interswitch Nigeria, Globacom Nigeria Limited, Visafone Communications Limited, Chams Plc, Data Sciences Nigeria Limited, Systemspecs, and VDT Communications Limited are among the current subscribers taking up space at the green 48 hectare SmartCity Innovation Hub.
Source: Vanguard