Nigeria poised to become leading digital economy in the world ─Minister

*The Federal Government says the digital economy, driven by science, technology and innovations, plays a very important role in the country, and it is taking shape while undermining conventional notions about how businesses were structured and how consumers used to obtain goods and services

Isola Moses | ConsumerConnect

The Federal Government has restated its commitment to adapting emerging technologies, including the 5G networks and Artificial Intelligence (AI), to activate the Nigeria digital economy as the West African country is currently said to be at a point where it is evolving into one of the leading digital economies in the world in the next couple of years.

ConsumerConnect reports Prof. Isa Ali Pantami, Honourable Minister for Communications and Digital Economy, who stated this Tuesday, November 16, 2021, at the second School of Science and Technology (SOST) National Conference of the Federal Polytechnic, Bauchi, Bauchi State, said the country would soon be one of the leading digital economies in the world.

The Minister, represented at the conference by Prof. Muhammad Abubakar, Managing Director of Galaxy Backbone Plc, remarked that the theme of the SOST Conference, “The Role of Science, Technology and Innovations in a Digital Economy: Towards Achieving Sustainable Development Goals (SDGs)”, was timely and related to the objective of digital economy.

Prof. Pantami stated: “It is quite important because our nation, Nigeria, is at a point where it is evolving into one of the nations that will in the next couple of years be regarded as one of the leading digital economies in the world.

“This is the desire of the Ministry and President Muhammadu Buhari, that all agencies under the Ministry of Communications and Digital Economy, private sector and stakeholder companies are working towards Nigeria’s digital economy.”

He further noted: “Science, Technology and Innovation (STI) are seen as the main enablers of realising some, if not all, of SDGs (Sustainable Development Goals), such as ending hunger through agrictech, no poverty through ICT (Information and Communications Technology), good health among others.”

Pantami stressed that the digital economy, driven by science, technology and innovation plays a very important role in the Nigerian economy.

According to the Minister for Communications and Digital Economy, digital economy is the economic activity that results from billions of everyday online connections among people, businesses, devices, data and processes.

The digital economy, he also noted, is taking shape and undermining conventional notions about how businesses were structured, how firms interacted, and how consumers obtained services, information and goods.

“Therefore, we cannot underestimate the huge role science and technology plays in digital economies and the strengthening of the SDGs,” Pantami stated.

Prof. Mohammmed Shuaibu, Dean of Faculty of Life Sciences, Ahmadu Bello University (ABU), Zaria, in Kaduna State, in his lead paper presentation at the conference said industrialisation was widely acknowledged as the most driving force for economic growth and advanced development.

The ABU Dean of Faculty of Life Sciences explained that industrialisation would not be achieved without the government, academia and industry.

These three arms must come together to achieve industrialisation in an economy, Prof. Shuaibu said.