A slippery entry into Silicon Valley?, By Adamu Rabiu

As the Federal Ministry of Communications, Innovation and Digital Economy takes this slippery step, it needs to be aware of the Rules of Engagement and it should do it with a keen awareness of the implications, relevant legal and ethical frameworks that govern such ventures. As it is crucial in ensuring the success and the realisation of the intended benefits for Nigeria’s economy and its position on the international stage.

The Signing of a Blank Cheque

In the heart of San Francisco, a stone’s throw away from the bustling innovations of Silicon Valley, stands a property at 324 Jackson Street. It is a 4,000 square foot residential home located in the city’s affluent Presidio Heights district. This building, now to be repurposed as the Nigerian Digital Technology Exchange Programme Hub, marks a significant step in Nigeria’s quest to carve out a space in the world’s most renowned tech hub.

The Federal Executive Council (FEC), at its meeting of 13-14 May, based on its misaligned investment policies aimed at bolstering the nation’s economy, by attracting foreign direct investments (FDI), and enhancing the ease of doing business, recently approved, hopefully, a transformative project aimed at boosting the country’s digital technology capabilities to be warehoused in this building.

This prime property, historically, served as a outpost for cultural diplomacy and the administrative functions of Nigeria’s consulate, and has been largely neglected since its closure in 1989. It is valued at approximately $7 million, we are told. There is therefore the need to get the San Francisco Assessor-Recorder’s Office to provide a professional assessment of its current state at the prevailing market conditions.

The Consequences of Squatters and Rat Infestation

Believing in good faith, then the government’s decision to convert this valuable dormant asset into a tech hub is not a ruse for some clandestine activities but a strategic move to change its use, convert and utilise it to leverage the Bay Area’s resources, to position Nigeria as a key player in the global tech landscape and spotlight Nigerian startups. Also, to serve as a redline, a warning and a deterrent, while repurposing the property, it is vital and essential to investigate any negligence, mismanagement and hold accountable those responsible for allowing the property to fall into disrepair from 1989 till date (35 years! Was there budgetary allocations and release on this property all these years? Those charged with responsibilities of auditing books of MDAs, investigating financial misappropriation and taking care of the nation’s assets, should be having a look here!) and appropriate actions be taken against those found culpable, in accordance with the law.

This accountability will ensure that, going forward, public assets are managed effectively and this would set a precedent for future asset management.

The Logic of Backends and Frontends

What Nigerians know thus far:

1. The Federal Government of Nigeria will retain ownership of the property, as represented by the Federal Ministry of Communications, Innovation and Digital Economy and the Federal Ministry of Foreign Affairs.
2. The hub will be managed by a consortium of Nigerian digital technology companies, which will provide non-public funding for the operations of the Startup House.
3. There is the involvement of the Presidential Economic Coordination Council (PECC), which includes well known entities from the tech ecosystem and who make up about 10 per cent of the council representation.

What Nigerians don’t know thus far:

1. Where is the linkage or synergy between the National Centre for Artificial Intelligence and Robotics (NCAIR) and the Nigerian Digital Technology Exchange Programme Hub (Nigerian Startup House)?
2. Are criteria for sourcing the start-ups available?
3. How can startups benefit from these initiatives?
4. Is it possible for mature enterprises seeking to scale up also benefit?
5. Will the Consolidate Revenue Fund (CRF) benefit from the endeavour yearly?
6. Is the consortium funding the endeavour open to interested parties?
7. What was the financial impact on Nigeria’s Consolidated Revenue Fund (CRF) in terms of tax, accruals and fees generated from the $1.3 billion raised by Nigerian startups in 2023?
8. The list is endless!

It is crucial to ensure that the project adheres strictly to the Public Procurement Act of 2007 and the Code of Conduct for Public Officers, as it is essential to avoid any ethical breaches and ensure that public officers do not exploit their positions for personal gain!.. Any deviation from these principles will undermine public trust and the project’s credibility.

Everything seems shrouded in mystery but the answers are crucial, as they will offer a lifeline to Nigeria, given the significant value of the property and the existence of potential conflicts of interest.

It is crucial to ensure that the project adheres strictly to the Public Procurement Act of 2007 and the Code of Conduct for Public Officers, as it is essential to avoid any ethical breaches and ensure that public officers do not exploit their positions for personal gain!

Any deviation from these principles will undermine public trust and the project’s credibility.

The Application Programming Interfaces (APIs) and Gateways

As the Federal Ministry of Communications, Innovation and Digital Economy takes this slippery step, it needs to be aware of the Rules of Engagement and it should do it with a keen awareness of the implications, relevant legal and ethical frameworks that govern such ventures. As it is crucial in ensuring the success and the realisation of the intended benefits for Nigeria’s economy and its position on the international stage.

The likely rules to guide the various engagements are:

A. The Nigeria Startup Act 2022: Though the impact of the Act is yet to be measured, as it is still in its infancy stage.

• Therefore, the likely hood of a head-to-head collision between the National Information Technology Development Agency (NITDA) and the National Council for Digital Innovation and Entrepreneurship (NCDIE) will be a challenge.
• Startup labelling and transitioning from being labelled as a Startup.
• The Startup Support and Engagement Portal is fraught with issues!

B. The Public Procurement Act 2007: It is advisable to undertake a visit into:

• Sections – 24 to 49
• Sections – 50 to 59
• Sections – 62 to 63
• Section – 64, etc.

C. International Conventions and Treaties

Mere Tautology

There are two structures interrelated somehow:

One, the Terms of Reference (ToR) for the PECC include formulating and implementing a consolidated emergency economic plan, addressing immediate economic challenges, and ensuring the streamlined execution of economic strategies. The council is mandated to submit a comprehensive plan of economic interventions for 2024, covering the next six months, for immediate implementation within two weeks of its inauguration.

The influx of expected capital is a mouth-watering potential benefit that the hub can unlock for Nigeria and its citizens. And by serving as a platform for technology collaboration and planting Nigeria’s flag there, the hub, we fervently pray and hope, is set to enhance Nigeria’s presence in the global tech arena.

Two, the key elements of Nigeria’s Trade and Innovation, Entrepreneurship and Capital (IEC) Strategic Blueprint Pillars are designed to accelerate the country’s economic diversification and enhance productivity through technological innovation. And it has five key pillars:

1. Knowledge
2. Policy
3. Infrastructure
4. Innovation, Entrepreneurship & Capital (IEC)
5. Trade

These are gobbledygook. We are in the tech-age with yahoo-yahoo boys and girls as old as below puberty in EFCC net, with some serving various terms in correctional institutes. What will happen to them there and when they come out or those still roaming the streets?

The pillars lack synergy to form the foundation of Nigeria’s strategy to harness the transformative power of digital technology and innovation, in other to create a more inclusive and prosperous Leap of Faith into the Future.

Millionaires’ Play Ground

Establishing a foothold in the cradle of startup culture, the Silicon Valley in the city’s Bay Area, a place where ideas are nurtured into innovations that revolutionise industries, requires tact and grit, as the path is fraught with challenges.

To navigate the currents of the competitive waters of the Bay Area, the home base of over 200 of the largest companies in the world by revenue with a combined value of over $900 billion, and where every square foot is contested by the brightest and most innovative minds, is certainly exciting!

The influx of expected capital is a mouth-watering potential benefit that the hub can unlock for Nigeria and its citizens. And by serving as a platform for technology collaboration and planting Nigeria’s flag there, the hub, we fervently pray and hope, is set to enhance Nigeria’s presence in the global tech arena.

Adamu Rabiu writes from Kaduna