Disadvantages Of Leapfrogging Technology Innovation In Nigeria

Alongside the entrepreneur spirit, Innovation is the process of taking new ideas and implementing them into the market. Key word being “new”, an innovation can be sometimes viewed as the application to better solutions that meet new demand-requirements, inarticulated needs or existing market needs. Innovative ideas range from: goods, services, products, processes, services, technologies or ideas that create value for which customers will pay for. For an idea to be an innovation, it must be replicable at an economical cost and must satisfy a specific need. This means is that one must be ready and willing put their new idea to the test. On the other hand, there is recognition that “innovation is also critical to cultural, environmental, social, and artistic progress as well” (Bullinger, 2006). With this stated, high-tech innovation is ultimately the reason why we can be thankful for the many new conveniences of the 21st century. Although we might see the forefront of innovation being very prominent in today’s world, innovation is truly nothing new. From the start of modern man times, innovative ideas have paved the way for civilization to advance and develop into what we are today and at the same time, we have barely begin to chip away at the tip of the iceberg of our true human potential. Some scholars believe that innovation is a

“Using named examples, assess the effectiveness of technological leapfrogging in contributing to the development process.”

An important part of the transformation of the African markets into more productive and effective systems is the upgrading of technology throughout the economy. In addition to serving as a mechanism through which to promote productivity, gains in technology will allow the African economy to engage in more “sophisticated economic activities” like a more robust financial services industry and increase banking levels throughout the

The economic condition of Nigeria has been damaged due to conflict among several competing ethnic, tribal and religious group has limited political stability and led to political strife. As per United Nations, Nigeria has low human development because of the high number of illiteracy among adult population and also due to low life expectancy rate.

Furthermore Nigeria has microloans which the people are being taken advantage of because if the country does not know how to handle money the people sure can’t. (Odi, Olukotu & Emmanuel, 2013)

The cause of poverty in Nigeria is a result of multiple factors that overlap and run deep within the history and culture of Nigeria, which makes it difficult for the cycle of poverty to stop, yet, by understanding some of the main causes of poverty in Nigeria, anthropologist can suggest ways in which poverty can be decreased. Analysts have reviewed the country in an attempt to figure out why Nigeria is getting poorer, and many have come to some basic

The current socioeconomics for Nigeria are extreme poverty and it is estimated around 62% of it current population live below its poverty line, which equates to under $1 day a day (Nigerian Millennium Development Goals, 2015). Nigeria’s gross domestic product per capita in 2015 is estimated at $6,400, and its unemployment rate in was estimated at 23.9% in 2011(Central Intelligence Agency, 2016).

The rise of mobile technology in Africa has become one of the most revolutionary steps in the recent technological growth. Many people are now using smartphones and other handheld devices. Major communication companies like Safaricom and Telkom Kenya are providing a stable connection to the internet.

Sometimes, the cold hard facts will provide better evidence to why unemployment is more of a problem than some realize. Statistics can be just as vital to understanding the problem of unemployment. Nigerian unemployment rate has skyrocketed from 10.4% in the last quarter of 2015 to 14.2% in the respective last quarter in 2016. That is an increase of 3.8% which is the highest job spike since 2009 (“Nigeria Unemployment Rate” P.1.). 3.8% may not seem like a lot, but since Nigeria has a population of 192 million (10/31/17) (Nigeria Population LIVE P.1), 7,296,000 became unemployed, making the total amount of people unemployed 27,264,000. “In the previous quarter, the jobless rate was 13.9 percent. Unemployment Rate in Nigeria averaged 9.76 percent from 2006 until 2016, reaching an all time high of 19.70 percent in the fourth quarter of 2009 and a record low of 5.10 percent in the fourth quarter of 2010” (“Nigeria Unemployment Rate”

ICTs, Africa and you: How do you see the development of the sector in the last 5 years?

During 2003-2007, Nigeria attempted to implement an Economic Empowerment Development Strategy (NEEDS). The purpose of NEEDS is to raise the country’s standard of living through a variety of reforms, including macroeconomic stability, deregulation,

Mobile phones have gone through a vast evolution since 1983. It is also a core makeup of the modern consumers’ life. Nevertheless, the company still not sure whether revenues would follow users to the mobile market and also worried about the ability of the enterprise which can monetize mobile devices to make extraordinary profit successfully.

After multiple attempts, I succeeded in making contact with the Special Assistant to the Executive Vice Chairman of the Nigerian Communications commission, Mr Edoyemi Ogoh. However, he seemed quite busy, and could not give me much time, but we were able to have a brief discussion on the factors, from the regulatory point of view, impacting the growth of mobile money in Nigeria. He was of the opinion that the bank-led model for providing mobile financial services in Nigeria, as opposed to the operator-led model could be

Being one of the leading ICT groups in Africa, the main focus of the group is to provide innovative solutions by integrating products, applications, and services to enable their customers to do the best work possible with regards to their mission of leveraging the intellect of their empowered people to deliver optimised, cost-effective solutions that exceeds their stakeholders’ expectations. They intend to remain true to their values to their customers, to develop key intellectual property thus adding value to all their stakeholders.

An Appraisal of Information and Communication Technology (ICT) Resources for Sustainable Poverty Eradication and Development in Nigeria