Nigerian tech leaders say power and funding hold back growth
Speakers at the AFF Women in Tech conference said unreliable electricity, costly broadband and tighter funding make it hard to run tech businesses in Nigeria.
The facts
- According to Technext, speakers at the AFF Women in Tech conference 6.0 said unreliable electricity, expensive internet and limited financing raise the cost of running tech businesses in Nigeria.
- NIGCOMSAT CEO Jane Egerton-Idehen said power cuts hurt telecoms service, and suggested internet providers offer cheaper packages designed for small businesses.
- Ifeoma Malo of Clean Technology Hub said solar, mini-grids and pay-as-you-go financing are helping businesses depend less on the grid, but telecoms and renewable firms do not work together enough.
- Oreoluwa Somolu said women are about 22% of STEM students in Nigerian universities, against 35% globally, and about 20% of the tech workforce.
Case notes · Danny's take
Why it matters
Nigeria's digital economy runs on power first and apps second. If the electricity is unreliable, the payments, healthcare and fintech built on top of it carry that risk too. The funding advice matters just as much. Cheap capital is gone, and investors now want revenue and runway, not a list of countries. Activity is not profit.
For builders
Treat power as a core cost line, not an afterthought. Solar and pay-as-you-go energy deals are a way to cut grid risk, and affordable connectivity for small businesses is a gap that telecoms and energy firms could fill. Show investors actual revenue and a runway before you talk about expansion.
Not financial advice. Do your own investigation.
This story was summarised with AI from Technext's reporting and checked against our editorial policy. Danny's take reflects his views. Disclaimer.
Danny Walter
Founder of Moon Republic, Volt Terminal and Moon Republic Academy. Author of The Market Is a Crime Scene and After the Applause.