MOFI Backs Nigeria’s $450bn Digital Economy Drive, Partners WACC 2026

Nigeria’s ambition to build a $450 billion digital economy is gaining stronger political and institutional backing as Ministry of Finance Incorporated (MOFI) joins the 15th edition of the West Africa Convergence Conference 2026 (WACC 2026) as a strategic partner.

The conference, scheduled to hold in Lagos in June, comes at a time when Nigeria’s Information and Communications Technology (ICT) sector—currently contributing more than 18 per cent to the country’s Gross Domestic Product—is increasingly being positioned as a major pillar of economic diversification beyond oil.

Industry stakeholders say the partnership signals a growing alignment between government institutions, political leadership and private sector players on the need to accelerate digital transformation across the country.

In a significant indication of rising political support for the sector, the National Chairman of the All Progressives Congress (APC), Nentawe Yilwatda, will deliver the keynote address at the conference.

His presentation, themed “Leveraging Technology for Development in Nigeria, 2027–2031: Delivering the Renewed Hope Agenda,” is expected to highlight the role of technology in governance reform, economic expansion and youth empowerment in Nigeria’s next political cycle.

Analysts believe the participation of a top political figure at the conference underscores the increasing recognition of digital innovation as a central component of Nigeria’s medium-term economic strategy.

The involvement of MOFI reflects a broader shift by the Federal Government to leverage technology in unlocking value from public assets and strengthening national investment capacity.

As the government’s asset and investment management institution, the Ministry of Finance Incorporated oversees more than 130 government-owned enterprises and is pursuing an ambitious target of building ₦100 trillion in assets under management over the next decade.

Chief Executive Officer of MOFI, Armstrong Ume Takang, said the conference presents a valuable platform to deepen engagement with policymakers, investors and digital economy stakeholders.

Takang noted that the event aligns with MOFI’s mandate to catalyse investment, foster public-private partnerships and promote innovation-driven economic growth.

According to him, the institution is committed to contributing meaningfully to policy conversations and collaborative initiatives aimed at accelerating Nigeria’s digital transformation.

The conference comes amid growing recognition of the ICT sector as one of Nigeria’s most resilient and fastest-growing industries.

With its share of GDP steadily rising, policymakers and investors are increasingly turning to digital innovation, fintech expansion and data-driven systems as key tools for boosting productivity, improving public service delivery and reducing the country’s dependence on oil revenues.

WACC 2026 is expected to draw a diverse range of participants including state governors, chief executives of telecommunications and technology companies, fintech operators, data centre providers, regulators, investors and startup founders.

One of the highlights of the conference will be an investors’ pitch session, where state governments will present digital infrastructure projects and investment opportunities.

The session is designed to position subnational governments as key drivers of Nigeria’s digital transformation while attracting private capital into broadband expansion, smart infrastructure and technology innovation hubs.

The West Africa Convergence Conference is organised by Knowhow Media International, publishers of IT Edge News.Africa.

Over the years, the event has evolved into a major platform for aligning government policy direction with private sector innovation across the digital economy ecosystem.
Chairman of WACC 2026, Sola Afolabi, said the conference continues to shape discussions around digital transformation and economic development while recognising individuals and institutions driving innovation in the sector.

Chief Executive Officer of Knowhow Media International, Olusegun Oruame, also described Nigeria’s digital economy as being at a defining moment, stressing the need for stronger collaboration among political leaders, policymakers and the business community.

According to him, bringing these stakeholders together is critical to unlocking sustainable growth and ensuring that Nigeria fully harnesses the opportunities of the digital age.

With rising institutional participation, stronger political engagement and growing investor interest, stakeholders say WACC 2026 is emerging as a significant platform for shaping the future trajectory of Nigeria’s digital economy.