The Nigeria Deposit Insurance Corporation (NDIC) and the Federal Inland Revenue Service (FIRS) are set to spend a combined sum of N8.7 billion on software acquisition in 2024.
As outlined in the government-owned enterprises (GOEs) budget released by the Ministry of Budget and National Planning, leading the software spending is NDIC allocated with N5.2 billion, while FIRS follows with N3.5 billion.
Concerns arise among stakeholders over the annual budgeting of billions for software by government agencies without proportional service improvement.
The National Information Technology Development Agency (NITDA) acknowledges this issue and implements an Information and Technology ( IT) projects clearance system to scrutinize projects before fund allocation. NITDA aims to ensure accountability, transparency, and effectiveness in utilizing public funds for IT projects.
Some argue for a shift toward investing in local software to boost the domestic industry and stem the annual loss of N156 billion incurred through software importation.
