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

Published

2 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

Tight security in Benin as Edo governorship election draws near

Published

2 mins ago

September 20, 2024

Austin Ojomah

By Ojomah Austin.

A large number of officers from the Nigeria Police Force, the Nigerian Army, and the Nigeria Security and Civil Defence Corps (NSCDC) have been mobilized across the city, causing traffic congestion in several areas.

Security personnel were spotted at the Independent National Electoral Commission (INEC) office in Benin, securing strategic locations, with some awaiting further deployment to other parts of the state.

This follows the recent deployment of 35,000 police officers to maintain law and order during the elections, With less than 48 hours to the Edo State governorship election.

The NSCDC also deployed 6,433 officers, while the Defence Headquarters has stationed soldiers to ensure a safe environment for voters.

In addition, authorities have implemented a “show of force” with security agents patrolling key areas.

In anticipation of the election, the Edo State Government declared Friday a work-free day to allow voters to travel to their polling units.

Meanwhile, the Christian Association of Nigeria (CAN) held a prayer session in Benin, calling for peace and the election of a credible leader who will govern with integrity.

INEC has also commenced the distribution of sensitive electoral materials to all 18 local government areas, ensuring readiness for Saturday’s vote.

News

New video of Zinoleesky gets tongues wagging

Published

15 mins ago

September 20, 2024

Austin Ojomah

……“E remain small make breeze blow am away”

By Ojomah Austin.

Nigerian singer, Zinoleesky stirs a buzz online due to a recent video of him circulating on social media.

In the video, Zinoleesky dons a white shirt alongside black trousers as he brags about being worthy to be used as a Valentine’s gift.
Reacting to the video, netizens commented on his skinny appearance.

Famous musician, Oniyide Azeez, better known as Zinoleesky trends online due to a new clip serving the rounds on social media.

In the video, the ‘Element’ hitmaker is spotted wearing a white shirt and a stylish black trouser. While being filmed, Zinoleesky bragged mightily about his looks.

He reiterated that he could be used as a Valentine’s gift to any girl.

The video generated a buzz online with a large number of netizens commenting on his thin body shape. Some swiftly leveraged it to make fun of the artiste.

One @janicekate_x wrote: “E remain small make breeze blow am away 😂.”

soromotoochukwu wrote: “I like how music can take you to another place. For example, this restaurant is playing Zinoleesky so now I’m going to a different restaurant.”

dave.dexter27 wrote: “Make breeze sha no blow as we wan deliver the valentine gift😂😂😂.”

oluwatamilore_xx wrote: “Bro,drank all the whole slimming tea and nothing is left to slim down.”

isco_west_whil wrote: “Chaii dem don set this Guy up for dragging again😂😂.”

scheargoon wrote: “Try put stone for your pocket guy”

bouncequotes wrote: “My boy 😂😂😂😂 slim daddy for dem girls.”

just_eniola_olayemisi wrote: “No be your fault zino, u no just get choice that to continue to dey craze 🥺 I feel for u my bro.”

zaza_mula112 wrote: “Zino Dey enjoy, while seyi vibe Dey cry under record label 😂😂.”

jamesmike7837 wrote: “See person be like broom stick😂.”

sheis_shuga wrote: “Who Dey decive you werey 😢😢see as u slim like who get HIV 😢😔🙄🥺Dooh.”

News

AU Agenda 2063: Nigeria Recommends Key Implementation Strategies, Capacity Building

Published

27 mins ago

September 20, 2024

Gloria Ikibah

By Gloria Ikibah

Nigeria has recommended some strategies to support the realization of the African Union’s (AU) Agenda 2063, ans among these are the creation of regional centres of excellence to strengthen technological capacity, development of innovative financial models, and introduction of incentives to encourage public-private partnerships (PPP) for infrastructure development.

These were the suggestions highlighted by the Deputy Speaker of the House of Representatives, Rep. Benjamin Kalu, during his speech at the 12th Annual Conference of Speakers of National and Regional Parliaments held at the Pan-African Parliament (PAP) in Midrand, South Africa.

Naijablitznews.com reports that Agenda 2063 is a 50-year strategic plan aimed at transforming Africa into a global powerhouse, adopted in 2013 and it outlines the continent’s aspirations for inclusive and sustainable development. The agenda also identifies key flagship programmes designed to accelerate Africa’s economic growth and transformation.

Kalu stressed the importance of making Agenda 2063 widely recognized across Africa and highlighted the need for sufficient funding to ensure its success.

“We are pursuing this agenda, but there are challenges, especially around financing. The question is, how do we make Agenda 2063 a household project without adequate funding?” Kalu remarked.

He emphasized that Africa cannot rely solely on external sources and must take ownership of financing the agenda.

The Deputy Speaker also proposed that Africa explore public-private partnerships (PPP) to raise funds for infrastructure projects aligned with Agenda 2063, possibly offering tax incentives to participants. He also suggested that Africa establish centres of excellence across the regions to build capacity in technology and knowledge, ensuring that the continent can fully own and implement the project.

Furthermore, he pointed out the potential overlap between Agenda 2063 and the Sustainable Development Goals (SDGs) in areas such as healthcare, and urged that Africa prioritize objectives outside the SDGs to enhance efficiency.

“To drive Agenda 2063, we must have the necessary capacity. We cannot borrow knowledge from outside the continent to implement our own agenda,” Kalu added.