FG To Establish ICT Development Bank

The Federal Government has announced its plan establish Information and Communications Technology development bank to cater to the industry.

This was according to the Minister of Communications, Adebayo Shittu, who disclosed this during the 13th International Conference of the Nigeria Computer Society held on Tuesday in Abuja.

According to the minister, the decision to establish an ICT development bank, followed the inability of the regular banks to cater the needs of operators in the industry and the time frame it takes to develop ICT products and services from conception to the market.

“I am happy to inform you today that the Information and Communications Technology Roadmap has been approved by the Federal Executive Council.

“The ICT roadmap is a fundamental component of the Economic Recovery and Growth Plan 2017-2020 of the Federal Government,” he said

Also, the minister said the proposed development bank was provided for in the ICT road map, which had been approved by the Federal Executive Council.