ConsumerConnect | Digital Economy: Buhari hails ICT contribution, affirms 19 policies boosting national economy

*President Muhammadu Buhari lauds the Information and Communications Technology sector, saying the 19 ICT national policies, including the National Digital Economy Policy and Strategy, National Broadband Plan 2020-2025, and others in developmental regulations, infrastructure, digital skills, and indigenous content development are enhancing digitalisation of the Nigerian economy

Gbenga Kayode | ConsumerConnect

Toeing of the line of the Federal Ministry of Communications and Digital Economy, Nigerian Communications Commission (NCC), and other related government agencies in acknowledging the substantial contribution of the sector to the Nigerian economy, President Muhammadu Buhari says the Information and Communications Technology (ICT) industry has developed 19 national policies currently in various stages of implementation to boost national development.

ConsumerConnect reports the NCC, the country’s telecoms sector regulator, has been in the forefront of implementation of the National Digital Economy Policy and Strategy (NDEPS), and National Broadband Plan 2020-2025, among other policy instruments to activate the Nigeria Digital Economy.

Photo collage of some NCC’s regulatory activities in activating Nigeria Digital Economy

President Buhari, represented on the occasion by Sen. Adeleke Olorunnimbe Mamora, Minister for Science and Technology, stated this while declaring open the 2022 National Engineering Conference, Exhibition and Annual General Meeting (AGM) of Nigerian Society of Engineers (NSE) Tuesday, November 15, in Abuja, FCT.

Buhari said the sector had developed 19 national policies, which facilitated the quantum leap recorded by the sector in the economy, agency report said.

He noted: “These national policies are in the areas of developmental regulations, infrastructure, digital skills, and indigenous content development, among others.

“In a bid to achieve the goal of digitalisation of Nigeria, I launched and unveiled the National Digital Economy Policy and Strategy (NDEPS), and National Broadband Plan 2020-2025, among others.

“Nigeria’s digital economy is the fastest growing sector in the nation’s economy and the only sector that grew by double digits at the peak of the COVID-19 pandemic.”

ICT contribution to Nigeria’s GDP

Buhari also disclosed the sector’s contribution to Nigeria’s Gross Domestic Product (GDP) in the last three years has been phenomenal and unprecedented.

He stated: “To be specific, the ICT sector provided three unprecedented contributions to the Gross Domestic Product (GDP) of our dear country in the last three years.

“Namely 14.07 percent in Q1 2020, 17.92 percent in Q2 2021 and 18.44 percent in Q2 2022.”

The President further said: “At each time, that has been the highest ever contribution of the ICT sector to the GDP.

“This shows that our efforts are yielding positive results.”

Buhari as well noted that he had just assented to the Startup Act, which will further boost over 383 Nigerian technology startups as a result of the deliberate policy-focused initiative of the sector in partnership with relevant stakeholders in the country.

According to Buhari, the new Act has the capacity to significantly transform the innovation and startup ecosystem.

“We eagerly await the impact of it.

“Nigeria’s digital economy has been noted by the international community, eliciting recognition from the international stakeholders including the appointment of Nigeria to chair some highly regarded forums,” said the President.

Buhari affirmed that “the current industry statistics is proof that Nigeria is achieving her goals of digitisation of its economy.

“We are working to deliver better governance at a reduced cost to Nigerians leveraging digital technologies so that the new normal can be leveraged upon in all sectors and at all government engagement.”

Activation of 5G Networks

The Federal Government, noted the President, is also leveraging emerging technologies to support the different sectors of the economy.

Buhari said the Federal Government was pleased with the auctioning and roll-out of 5G services in Nigeria.

He also stated that the theme for the 2022 National Engineering Conference, “Advancing the Frontiers of Communication and Digital Economy in Nigeria”, bears another testimony to the potency of NSE conferences.

“In drawing attention to the critical aspects of our corporate existence as a nation that needs intervention.

“The theme of this conference also reflects the yearning of the Federal Government’s drive towards digitising the country’s economy using modern technology.

“And in making our country rank among the most advanced in the world in the communications sector.

“It is worthy of mention that the Federal Government’s partnership with the NSE through the Federal Ministry of Communications and Digital Economy, in organising this conference, is not misplaced,” the President said.

According to him, such partnerships between the Government and private sector players are what any country needs for accelerated growth and development.

Buhari asserted: “My administration will continue to engage with professionals, engineers to achieve sustainable socio-economic development in the country.

“This is in line with the nine priority areas of my administration in order to achieve the desired milestones in digital economy.

“I demand your advisory support and strategic collaboration to further accelerate economic growth and improve efficiency in strengthening all other sectors of the economy.”

Digital technologies, innovations advance economies -NSE Chief

Speaking earlier in his welcome remarks, Mr. Sa’ad Gidari-Wudil, President NSE, quoted a United Nations (UN) report stating that digital technologies have advanced more rapidly than any innovation in history.

Gidari-Wudil acknowledged that digital technologies had over 50 percent of the developing world’s population in barely two decades and transforming societies in multifaceted ways.

The NSE Chief also stated: “As a major stakeholder in Nigeria’s development trajectory, the NSE has the conviction that the country must be well positioned to take advantage of transformations that digital technologies have blown forth.

“With a vision to propel our nation into an advanced and globally-focused digital economy.

“Nigeria has a rich pool of highly innovative human resources; therefore, a thriving digital economy will create employment opportunities for our teeming population.

“Improve security, reduce corruption and enhance the overall wellbeing of our dear nation and its citizenry.”

That conviction informed the decision of the Society to collaborate with the Federal Ministry of Communications and Digital Economy on the conference, said Gidari-Wudil.

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Digital Economy: Buhari hails ICT contribution, affirms 19 policies boosting national economy

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