Osinbajo Meets MasterCard President to Discuss ICT Development

By Dipo Olowookere

Nigeria’s Vice President, Mr Yemi Osinbajo, on Tuesday, November 14, 2017, held a meeting with the team of MasterCard executives led by its president and CEO, Mr Ajay Banga, at the State House in Abuja.

During the meeting, both parties discussed the importance of developing a digital framework for Nigeria to support the country’s ongoing transformation, ensuring the development of a more inclusive economy.

Mr Osinbajo recognised the critical role of technology in driving Nigeria’s development to help enable the country to benefit from the expansion of consumer and business spend as cities become hubs for commerce.

On his part, Mr Banga informed the Vice President on his company’s investment in the sector with the launch of Masterpass QR, which is geared to help local businesses overcome barriers to growth.

He further highlighted the role played by technology and innovation in driving new opportunities to enable diversified economic growth, a point that resonates with the government’s development goals.

With half of the population residing in cities and generating more than 60 percent of the country’s GDP, it will be vital to find efficient ways to serve the growing demand on services and infrastructure.

Current estimates predicate that by 2035 close to 30 million people are likely to live in Lagos, turning it into the largest megacity on the continent.

Also at the meeting on Tuesday were the Senior Special Adviser on ICT to the President, who doubles as the PA to the Vice President, Mr Lanre Osibona; SSA to the President on Social Investment Program, Mrs Maryam Uwais; MasterCard Vice President on Government Services, Mr Paul Tswanya; MasterCard Vice President & Area Business Head for West Africa, Ms Omokehinde Adebanjo; MasterCard President for Middle East and Africa’ Mr Raghu Malhotra; amongst others.