The Minister of Communications, Adebayo Shittu, on Thursday said Nigeria had put more than 60 billion dollars in the ICT area since 2001 when computerized versatile administrations were propelled.
The minister revealed this in his keynote discourse at the sixth European Union-Nigeria Business Forum in Lagos.
The theme of the forum was: “Youth as Engine of Broad-Based Economic Transformation”.
As indicated by Mr. Shittu, the central government has been aware of the part ICT plays in national advancement.
He said that the legislature had along these lines been submitted for more than 15 years in guaranteeing that ICT offices and administrations were extended quickly.
Mr. Shittu said that more than 26 million young people were jobless or underemployed, as indicated by the Nigerian Bureau of Statistics.
"Organizations and associations are feeling the impacts. Our instructive establishments are delivering a large number of graduates however many are not prone to secure employments," he said.
"The country's developing populace does not improve the situation.
"Government is tending to the issue of interest in ICT framework and ICT training and direction to expand on the triumphs of this advanced upset.
"We are aware of the way that adolescents assume a key part in building up the ICT segment, and we are setting up the correct business condition and administrative structure to enable our youngsters to open all the capability of computerized economy.
"Without a doubt, ICT has a crucial part to play in this undertaking."
The minister said that all inclusive, ICT had turned into a veritable instrument for propelling development and monetary improvement, particularly in nations enriched with common assets.
"ICT has changed the way individuals convey, learn, and lead organizations.
"A World Bank econometric examination completed in 2009 demonstrated that each 10 for each penny increment in ICT speculation produces a 1.38 for every penny increment in GDP.
"The Nigeria ICT segment today is one of the quickest developing regardless of the financial retreat.
"Riding on ICT has turned out to be convenient as customary methodologies are tumbling to switch the joblessness incline," he said.
Mr. Shittu said that the nation could turn into a noteworthy player in the worldwide economy by prudence of its human and normal asset blessings.
He, be that as it may, said the potential had remained moderately undiscovered throughout the years.
He said that the nation was utilizing on ICT to drive straightforwardness in administration and enhance the quality and cost adequacy of open administration conveyance as one awesome stimulus that the Nigeria economy was tightening with power.
The minister stated, "No country can battle a war without an armed force. The advance of any country lies in the efficiency of its subjects.
"All together for the ICT part to supplement or supplant the oil and gas segment, we have set up solid strategy system which supports the area.
"We need the ICT area to be the money cow for our country," he said.
Prior, the EU Ambassador and Head of Delegation, Ketil Karlsen, said the EU was concentrating on young people and ladies on how their parts in the ICT and agribusiness segment.
Mr. Karlsen said that EU was likewise concentrating on how it could give a huge number of employments to Nigerians through European speculations.
He said that the fundamental need in Nigeria was to build up an officially thriving organization between the EU and the nation.
He said that the union was working as an inseparable unit with the Nigerian government to make favorable condition for European financial specialists to come and put resources into the nation.