News

Nigeria’s Digital Economy Sector To Generate N18.3bn By 2026 – Minister

Published

6 months ago

July 10, 2024

Gloria Ikibah

…as NASS say national digital economy bill will revolutionise Nigeria

By Gloria Ikibah

Nigeria’s digital economy sector is estimated to generate about N18.3 billion by 2026, this is as stated by the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani.

The Minister revealed this at a press briefing on the National Digital Economy and e-Governance Bill organised by the Senate Committee on Information, Communication Technology (ICT) and Cybersecurity and House of Representatives Committee on Digital and Information Communication Technology.

According to him, the bill was long overdue to properly and fully harness the potential of the sector in the country, especially as the sector is the backbone for any economy and a prerequisite for any prosperous nation.

He said, “For those who follow the growth and trajectory of our economy in Nigeria, you should probably know that the ICT sector contributes about 13 to 18 percent of GDP. In Q4 2023 the sector contributed about 16.6 percent of GDP.

“The digital economy recorded about N5.49 billion in revenue in 2019. This sector is being projected to generate up to N18.3 billion by 2026.

“Nigeria is one of the top two destinations for capital foreign direct investment to technology staff in Africa. Last year we recorded about 2 billion dollars in FDI to tech startups,

“It will create jobs. The sector is extremely special and unique because of its capacity to unlock opportunities and raise productivity in every sector. If the digital economy is strong, it will catalyse development in every other sector.

“The bill we are here today is a bill that will accelerate the progress in our digital economy. There is no clear legislation that is pushing competition and ensuring development in that digital space.

“Today this bill which we are here to support, our hope is also that it will also be the first bill that would travel across the entire country. We have to ensure we take it to every state. It’s an important bill for all Nigerians and we want to give them the opportunity to give us feedback.

“The bill will support the growth and transformation of Nigeria’s economy through the application and use of the digital economy in all facets of life in Nigeria. it will create the enabling environment for fair competition to promote innovation, growth and competitiveness of the Nigerian economy”, the ministeradded.

Chairman of Senate Committee on ICT and Cybersecurity, Senator Shuaib Afolabi Salisu, said the Bill is important as it is the first attempt to put an omnibus legislation to cater to online activities.

This he said would revolutionise the economy and also unleash the full potential of the ICT sector.

“ICT is not just a sector like other sectors. It is a sector that without it other sectors cannot function. This Bill was introduced in the senate less than a week ago. We are engaging the media first because the media is critical to the success bill.

“We don’t want this bill to be misunderstood. We want you to have an understanding of what this Bill seeks to do. This Bill is not about levies, it’s not about commission but creating an environment for the digital economy to thrive and we cannot do that without the partnership of the media”, Senator Salisu said.

He therefore called on Nigerians to hold them accountable for the bill.

Chairman, House Committee on Digital and ICT, Rep. Stanley Olajide, said it is a crucial legislation thst has the potential to transform the Nigeria’s digital economy and position it for sustainable development.

“The bill which has undergone first reading in the National Assembly aims to provide a legal framework for the development and regulation of our digital economy. Furthermore as we gather here today, I want to emphasise our commitment to an inclusive process in the development of this bill.

“It is going to be very inclusive. We recognise the importance of collaboration and stakeholders in ensuring legislation that reflects the needs and aspirations of Nigerians.

“This event marks the beginning of a series of engagements with various stakeholders and the general public.

“It is comprehensive legislation that seeks to establish a regulatory framework for the digital economy for digital literacy and skills development, enhanced cyber security and encourages innovation and entrepreneurship. It has the potential to unlock Nigeria’s digital potential and improve the lives of Nigerians”, he stated.

Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, representated by Ag. Director, Emmanuel Edet, explained that the essence of the bill is to serve as an enabler to ensure that they are able to achieve the goals designed for Nigeria especially under the present government.

He said, “It is to enhance the use of the digital economy in the entire country, especially in government as well as in the private sector. As you may understand, the ecosystem is growing and there is a need for us to harness the potential of this ecosystem in order for us to develop our economic desires based on the advantages we have in terms of population, capacity and other facilities that are available. The Bill basically tries to ensure that digital technologies are accommodated in our day to day lives and experiences.”

News

BREAKING: Human Rights Lawyer Dele Farotimi Released

Published

2 minutes ago

December 24, 2024

Gloria Ikibah

By Gloria Ikibah

Prominent human rights lawyer and activist, Dele Farotimi, has been released after fulfilling his bail conditions.

Farotimi, who had been in custody over allegations of defaming Senior Advocate of Nigeria and founder of Afe Babalola University, Ado Ekiti (ABUAD), Afe Babalola, regained his freedom on Tuesday morning.

He is currently enroute to his home in Lagos.

Confirming the development, activist and politician Omoyele Sowore stated on X, “I am pleased to report that Dele Farotimi is no longer being held in the prison facilities of Ekiti State and is now returning home to Lagos. The struggle continues!”

Earlier, a Chief Magistrate’s Court in Ado Ekiti granted Farotimi bail, setting conditions that included a N30 million bond, two sureties (one of whom must be a property owner), the submission of his passport, and a restriction on granting media interviews following his release.

News

NASC backpedals reverses Atiku’s appointment as DCNA, replaces him with Yero

Published

5 minutes ago

December 24, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

Following the intervention by the National Assembly leadership, the National Assembly Service Commission, NASC, has reversed the appointment of Dr Ibrahim Atiku as Deputy Clerk to the National Assembly, DCNA.

The Commission has replaced Atiku with the permanent secretary [Estate and Works Directorate], Engineer Bashir Yero.

This was consequent upon the outcome of a meeting convened Monday night by the Senate President, Godswill Akpabio, with Speaker Tajudeen Abbas and their deputies in attendance.

Present also at the meeting were the Chairman of the NASC, Engineer Ahmed Amshi, two commissioners from NASC, and some permanent secretaries in the NASS bureaucracy.

THE CONCLAVE learnt that the high-level meeting took place in the Senate President’s residence.

Reports from the meeting said that the chairman of the NASC and his commissioners could not justify the appointment of Atiku when asked by the speaker how the choice of Atiku was arrived at.

THE CONCLAVE reports that it was at that point that the commission chairman sought the leave of the Senate President and the Speaker to ask that the permanent secretaries present should excuse them since they could not be sitting over a matter in which they had personal interest.

Upon their return to the room, after the leadership had arrived at a resolution one way or another, it was agreed that Engr. Bashir Yero of Estate and Works Directorate be appointed the DCNA, while Engr Sanda Liman of Procurement Directorate, be redeployed in Estate and Works.

The newly promoted Ibrahim Atiku [to the position of permanent secretary], as resolved and directed, should be deployed in Procurement Directorate.

The NASC is expected to formalise and/or activate the decision soonest.

Source: CONCLAVE

News

Speaker Abbas Salutes APC National Chairman, Ganduje, @ 75

Published

13 minutes ago

December 24, 2024

Gloria Ikibah

By Gloria Ikibah

Speaker of the House of Representatives, Rep. Abbas Tajudeen, has congratulated the National Chairman of the All Progressives Congress (APC), Dr. Abdullahi Umar Ganduje, on his 75th birthday.

The Speaker, in a congratulatory message through his Special Adviser on Media and Publicity, Musa Abdullahi Krishi, described Dr. Ganduje as a patriot and a democratic pillar whose invaluable contributions to the development and growth of his fatherland are commendable.

Speaker Abbas said the APC National Chairman has, since his assumption of office, been providing good leadership and guidance to the party, which is one of the reasons why the party continues to wax stronger.

The Speaker noted the electoral successes of the APC across the states and how the state chapters have recorded stability under Dr. Ganduje’s leadership of the ruling party.

Speaker Abbas also commended the APC National Chairman for the cordial relationship between the National Working Committee (NWC) of the party and the National Assembly Caucus.

While wishing Dr. Ganduje more fruitful years in sound health, Speaker Abbas also prayed for increased wisdom.