Experts at the ongo-ing Lagos State Eco-nomic Summit, Ehing-beti, have stressed the need for governments to maintain policy consis-tency for technological innovations stating that this would stimulate sec-toral growth.
Panelists in one of the 18 plenary sessions held at the conference yesterday,
“Unleashing Disruptive Innovation for Development,” were of the opinion that the government must allow flexible learning options and ensure that digital technology is a key as-pect of the educational curriculum.Commenting on strat-egy that must be lever-aged to lay the foun-dation for the Fourth Industrial Revolution in the state, Mr. Joseph Tegbe,
Partner, Head of Advisory, KPMG, said:“Fiscal tax incentives and tax waivers are im-portant for technological innovators. Really, re-search and development incentives for technolog-ical innovation have not been fully implemented in this country.
This is something we need to look at especially for young startups that are leveraging creative tech-nology and unleashing innovation. Tax waivers even for local technologi-cal manufacturers are extremely important.“
One thing that is also very critical is govern-ment consistency. We can put waivers in place, in-centives in place, but if you implement tax and incentives in the first or two years, and there is a reversal of policy, that will mean three step for-ward six steps backward.