“What could be attributed to this seeming low development of the insurtech industry, particularly when compared to its counterparts in other sectors?” he queried.

Among the panelists, who raised other crucial questions was the Managing Director, Verod Capital, Danladi Verheijen.

According to him, Y Combinator, in a recent communique, warned of an impending slowdown in VC and PE fundings due to the economic downturn currently experienced globally, and as such founders of startups should strategise appropriately to thrive in this downturn.

He also noted that Nigeria had historically seen a heightened investor appetite for tech startups despite her poor economic conditions.

With the increase in digital currency acceptability as legal tender for the exchange of goods and services, the Managing Director/Chief Executive Officer of Central Securities Clearing Systems Plc, Haruna Jalo-Waziri, questioned Nigeria’s preparedness for the revolution, especially using technology and innovation.

“What steps are being taken by the exchanges in Nigeria to strategically position themselves for these technological disruptions?” he asked.

While noting the increase in the population of Nigeria, the Founder at Flying Doctors Healthcare Investment Company, Dr Ola Brown, raised some questions surrounding the healthtech industry.

Brown said, “In light of the population explosion currently experienced in Nigeria, the need for healthcare providers would continue to increase; hence, the emergence of healthtech companies in Nigeria is a welcome development.”