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'Nigeria can generate $1bn from cloud computing'

'Nigeria can generate bn from cloud computing'.

Over the next ten years, Nigeria could raise about US$1 billion from cloud computing marketing at a rate of US$100 million annually. This was disclosed by Tunde Tani-Fafunwa, Managing Director of Nigeria's Kitskoo Cloud Services Limited.

Nigeria's telecoms sector is worth US$32 billion, but experts at the forum which aimed to expose Nigeria's business community to how technological innovations could positively impact businesses, said adopting cloud technological solutions could enable companies to tap into revenues from cloud computing and increase their return on investment.

Tani-Fafunwa said: "Cloud technology is the way to go for businesses these days. Rather than spend money on deploying their own infrastructures; businesses can actually outsource their IT aspect to a third party; business need to embrace pay-as-you-use IT services to drive their businesses."

According to him, even though cloud computing in Nigeria has not grown significantly, the market potential for cloud computing in Nigeria is well over $100 million per year.

"It's either you love technology and embrace the innovations that come with it as they come to boost your business or reject IT and remain at the background in terms of competition," he said. "With the increasing number of telephone users in the country and the large number of people, who constitute the bulk of customers for most businesses bring on various social media such as Facebook, Twitter, and so on, businesses must devise means of connecting with these customers by leveraging tailored-made cloud solutions that help them achieve the objective."

A number of initiatives have been launched in the West African country to explore the cloud computing sector as a source of revenue generation within the ICT sector.

ITWeb Africa recently reported that Microsoft has partnered with Fate Foundation and Mara Mentor in an initiative aimed at identifying and empowering 1,000 cloud entrepreneurs across the country.

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