Experts at the ongoing Lagos State Economic Summit, Ehingbeti, have stressed the need for governments to maintain policy consistency for technological innovations stating that this would stimulate sectoral 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 aspect of the educational curriculum.
Commenting on strategy that must be leveraged to lay the foundation for the Fourth Industrial Revolution in the state, Mr. Joseph Tegbe, Partner, Head of Advisory, KPMG, said: “Fiscal tax incentives and tax waivers are important for technological innovators. Really, research and development incentives for technological 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 technology and unleashing innovation. Tax waivers even for local technological manufacturers are extremely important. “One thing that is also very critical is government consistency. We can put waivers in place, incentives 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 forward six steps backward.