The Federal Executive Council has approved the establishment of the proposed Information and Communications Technology University of Nigeria.

The Acting President, Prof. Yemi Osinbajo disclosed this at the opening of a two-day summit on Smart Cities in Nigeria in Abuja on Tuesday.

The implementation committee of the proposed university submitted its report to the Minister of Communications, Mr. Adebayo Shittu, about three weeks ago. Shittu had said the report would go to FEC for approval thereafter.

He said, “The Federal Executive Council has just given approval for the establishment of the ICT University of Nigeria across the geo-political zones in the country. Our expectation is that, given its mandate, the university will bridge the knowledge and skill-set gap towards our march to a knowledge-based economy in Nigeria.

“The Federal Government has big plans for the Nigerian ICT ecosystem. There is unrealised ability in other assets the nation possesses besides oil, which are capable of growth and development that can generate surplus, one of such is the ICT.

“The Federal Government plans to establish innovation hubs across the country. In partnership with several major technology companies, the technology hubs will be fully resourced with infrastructure and capacity building tools. Each hub will be designed to produce relevant innovative technology solutions to a wide range of business, commercial and government problems.”

He added that the government intended to create a reservoir of human capacity in technology that could be exported internationally.

Speaking at the event, Shittu said the Ministry of Communications was collaborating with the European Union to create a Digital Single Market in Nigeria.

He said, “The size of Nigeria makes it the most lucrative investment destination in sub-Sahara Africa with a high return on investment and an emerging market that makes it one of the frontiers for investment and digital market consideration.