‘Nigeria has what it takes to become Africa’s IT hub’

Wole Akeju is the CEO of Reitigh Group, a people-oriented IT and entertainment firm based in Lagos.

Wole Akeju has a B.sc in Computer Engineering from the University of Lagos. In an interview with BUNMI BAILEY, he shares his vision, experience and how his company provides people- oriented IT and entertainment solutions for businesses.

What inspired you to set up this business?

What inspired the business is my passion to drive efforts and see results. I have always wanted to be an ‘entrepreneur’.

What was your initial start-up capital?

My initial start-up capital was N150, 000

How would you say your business has grown since starting?

Very well, I would say we have grown so well, looking at www.BusinessCenter.NG, which is now the brain power behind visibility for many small verified businesses. Through it, small businesses get small grants of up to N100,000 weekly.

We also have Reitigh POS (inventory management software), and RG5 Management (for entertainment, events & lifestyle company), which is home to Dj Consequence, Alatika, and MC Lively, amongst others

The IT industry is highly competitive. What have you done differently to ensure you remain in business?

Firstly, we ensure that every client who patronises any of our services is given the best delivery. That speaks mostly for me and keeps me relevant and my clients returning. Secondly, with our product-based business, we ensure that our products remain the best indigenous ones coming from this side of the world.

The Nigerian government is talking about diversification; do you think the IT industry can help diversify the country’s economy?

Yes, I think so, so long as the government is ready to support the industry, especially with regard to infrastructure, and stable power, among others. Putting these and other things in place will make IT more appealing to possible investors, hence promoting economic growth.

What are some of the challenges facing your business?

The challenge is majorly funding. Adequate funding from investors or even proper access to funds, such as bank loans, will drive our products and services farther than where it is at the moment. Infrastructure, stable power – as a lot is spent regularly to run the business— and also internet cost are key.

How can government address some of these challenges?

They can address these challenges by providing proper financial accessibility and good interest rates when taking bank loans. Providing a stable power supply to reduce the cost of running a business in the country is important. There is a need for a good Internet service plan with internet providers, as this is a major requirement for the success of any IT company. I would also implore the government to set up well-equipped IT research lab centers in all local council areas in Nigeria and grant access to registered Nigerians who are willing to work on collaborative efforts to develop solutions just like Co-creation Hub.

Does Nigeria have what it takes to be Africa’s number one IT hub?

Most definitely. We have the best brains in Nigeria, empowered with amazing IT-related solutions. So a proper structure from the government can push us to rule the African IT hub.

The government is trying to diversify the economy. What role can tech play in this regard?

Well, I feel that data collection and data retrieval have to be properly managed to ensure good results. And these are IT-related roles. Data can help support the diversification plan of the government.

Nigeria has a huge infrastructural gap. How can the government address issues with logistics and infrastructure?

The government can address these challenges by making it a priority and taking steps to ensure basic infrastructures are adequately provided for all to facilitate internal growth within the populace.