The Chief Executive Officer (CEO) of Amaltech Technologies, Mr Shehu Abdullahi, on Thursday asked for diversification of the economy through investment in semiconductor technology and chips production.

Abdullahi in an interview with the News Agency of Nigeria (NAN) in Abuja disclosed that such would lead to job creation and economic growth.

He stressed the vital importance of harnessing the potential of semiconductor technology to propel economic growth and expand Nigeria’s industrial horizons.

He said, semiconductor technology is a cornerstone for global innovation and modern economies.

He suggested that Nigeria needs to prioritize investments in semiconductor technology and chips production to fuel economic diversification, especially given the country’s reliance on oil revenues.

“This will be a crucial stride towards achieving robust economic diversification.

“Investing in this area can unlock substantial foreign exchange earnings through localized processing of raw materials and export of semiconductor products.

“This approach, in turn, has the potential to stimulate job creation, elevate local content development and bolster a more resilient economic environment,” he stated.

Recognizing the boundless capacities of Nigeria’s youth in steering technological progress, Abdullahi emphasized the necessity to enhance awareness and educate young Nigerians on the array of opportunities embedded within semiconductor technology.

On his views, fostering an environment that is conducive to nurturing skills and innovation, Nigeria can strategically position itself as a formidable contender on the international semiconductor production stage.

Abdullahi, a first-class graduate of software engineering from Middlesex University, said Nigeria has untapped potentials which could propel technological innovation and growth of the country.

He maintained that in a rapidly evolving global market, Nigeria must embrace technology-driven growth and secure its place in the world of industries and innovation.