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

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…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.”
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Govt cites security threats, bans Telegram for officials

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By Mario Deepromoter

Ukraine on Friday restricted the use of Telegram for its government, military and security officials, citing “threats” to national security on the app founded by Russian-born Pavel Durov.

“The National Security and Defence Council decided to restrict the use of Telegram in government agencies, military formations and critical infrastructure facilities,” the council said in a statement on Facebook, saying it was a “matter of national security.”

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Ooni unveiles launch of Olojo Festival, reveals ancestral significance

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By Mario Deepromoter

The Ooni of Ife, Oba Adeyeye Ogunwusi, on Thursday, announced the commencement of the 2024 Olojo Festival, revealing the event’s ancestral and spiritual significance.

Ogunwusi spoke at his palace during a news conference on the 2024 Olojo Festival with the theme “Evolving Transformationaly Domestic Tourism With Community Festivals.”

According to him, the festival is significant because of the spiritual exercises that characterise it and the testimonies it attracts.

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He said the celebration of the revered cultural event was held annually in the ancient city to celebrate the day of the first dawn.

The Ooni said the festival was in remembrance of “Ogun,” god of iron, who is believed to be the first son of Oduduwa, progenitor of the Yoruba people.

He added that the festival marked the birth of the “Aare Crown”.

Ooni said that several prayers rendered to Olodumare through the iconic “Aare crown” during the Olojo festival had been answered with so many testimonies.

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He stated, “Olojo is the festival of dawn and the birth of the crown, “Ade Aare”, the crown of all crowns. The crown that gave birth to all crowns all over the world with all the colours of the rainbow. It is called the spectrum of rainbow crowns.

“The crown does everything humans do, it is a very spiritual crown, very sacred. I am a living example and witness. I have actually charged the crown, I have prayed with it, that I want this done, this particular time.

“This is my ninth year on the throne, going to my tenth year by the grace of God, I have seen a lot of testimonies.

“I will pray with the crown worn on my head, I pray to the almighty God, Olodumare through the crown. I have never seen any failure in it. It is our strong heritage, our strong culture and tradition and we will continue to uphold it forever.

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He added that they were not idol worshipers, but rather custodians of their ancestors’ legacy, which continued to benefit them.

“These are things we should not joke about, It is our heritage, we should not compromise it with anything. It is created by nature, by God Almighty who is the supreme being,” he said.

Explaining the nature of the “Ade Aare”, Ooni described the crown as a sacred, mysterious being which bears the nature of humans.

According to him, the crown functions like humans.

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He said, “Olojo is the time when the crown comes out for blessings. This is a crown that has life in it till date, right from time immemorial.

“The crown changes the weather, it does not see the atmosphere except once in a year, during Olojo festival.

It’s fake news, Ooni’s palace denies marriage trending story
“In the crown, we see everything complete, we see the day, night, four corners of the world, the northern, southern, eastern and western poles.

“The birth of the crown is actually the first dawn pathfinded by Ogun, which is linked to our celebration.”

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The Ooni added, “Olojo is the main new year celebration and this dovetails to everybody’s new yam festival all over because what is used to bring out yams are cutlasses and hoes made with iron.

“This is the time we get beautiful harvests, the time we get wallnuts, bitter kola. For us in Ile-Ife, we still uphold our heritage and that is why we celebrate the first dawn.”

Ogunwusi appreciated the sponsors for the festival.

“I want to appreciate you all, our sponsors, for everything you have been doing. For always responding to my calls. May God bless you and may our ancestors guide you all. I appreciate the state government as well,” he added.

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Earlier, the Commissioner for Culture and Tourism in Osun, Abiodun Bankole-Ojo, appealed to sponsors of the Olojo festival to look into the possibility of developing some tourism sites within the state, like the Oranmiyan Groove.

“Please corporate bodies, stop giving us monetary and material gifts, come and develop the Oranmiyan site as a tourist site. Government will not be able to do it all,” he said.

The Olojo Festival Chief Consultant, Ayo Olumoko, urged Nigerians and international tourists to grace the festival.

NAN reports that the Grand Finale for the 2024 edition of the annual Olojo Festival in Ile-Ife, will be held between September 26 and September 30.

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On September 26, there will be Ayo Olopon Traditional Game, Festival Cultural Talent Hunt (Audition) and Olojo Festival Colloquium.

On September 27, there will be Ojo Ilagun, Iwode Ile-Ife (Community cleansing) and Oonirisa’s terrestrial message to the world.

September 28 is the festival’s grand finale official ceremony, Ojo Okemogun, and the Aare cultural procession.

September 29 is Ojo Ajoyo (Asekagba), Grand Royal Reception – Invitational, Adire Oodua Cultural Exchange Exhibition and Oonirisa’s Ife Award for Community Service, 2024.

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September 30 would be for the Ojo Ibile (Oonirisa’s ancestral traditional propitiation) and cultural talents hunt.

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Trump Says Israel Will Go Extinct Within Two Years If He Loses US Election

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By Mario Deepromoter

Trump expressed concern about his polling numbers among Jewish voters, lamenting his current standing compared to Harris, the Democratic candidate.

President Donald Trump suggested that Jewish-American voters could bear some responsibility if he loses the upcoming presidential election to Vice President Kamala Harris.

Trump expressed concern about his polling numbers among Jewish voters, lamenting his current standing compared to Harris, the Democratic candidate.

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Reuters reports that Trump claimed that Israel could face extinction within two years if Kamala Harris wins the election, suggesting that Jewish voters who support Democrats would share some responsibility for that outcome.

Speaking to a crowd, Trump stated, “If I don’t win this election, the Jewish community will play a significant role in that. If 40% or even 60% of people are voting for the enemy, Israel, in my opinion, will cease to exist within two years.”

He referenced a poll indicating that Harris had 60% support among American Jews.

Although he didn’t specify which poll he was citing, a recent Pew Research survey showed American Jews favouring Harris over Trump by 65% to 34%.

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Trump also expressed disappointment over winning less than 30% of the Jewish vote in both the 2016 and 2020 elections.

Trump reiterated similar sentiments earlier at a summit in Washington aimed at combating antisemitism in the U.S.

The Trump campaign has prioritised appealing to Jewish voters in critical battleground states, where even a small shift in support could influence the election outcome.

In Pennsylvania, for instance, there are over 400,000 Jewish residents, and Biden won the state by just 81,000 votes in 2020.

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In response to Trump’s comments, Morgan Finkelstein, a spokesperson for the Harris campaign, criticised him for his past associations with individuals accused of antisemitism.

Trump has consistently denied allegations of antisemitism, noting his Jewish son-in-law during his speeches on Thursday.

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