Nigerians haven sensitised on the need to embrace digital technologies as digital economy is changing the old way of businesses transactions across the globe.
At the forefront of this campaign is the Centre For Digital Economy (CDE) at the Kwara State University, Malete (KWASU).
The CDE of KWASU on Wednesday organised a lecture in Ilorin, the Kwara State capital to englighen members of the public on the advent of digital economy its potentials and advantages.
The speakers at the lecture themed ,” Digital Economy: The triple helix model of government, people and institution” included
The director-general of National Information Technology Development Agency (NITDA),Mal. Kashif Inuwa Abdullah, the Acting vice chancellor of KWASU, Prof Shaykh Jimoh and the chairman, Board of CDE, KWASU, Prof Kajogbola Ajao.
In a key note address, the NITDA chief executive, Abdullahi said a study by Mckinsey, has shown that digital technologies have the potential to create $13 trillion in economic value by 2025.
Represented by Oladejo Olawumi, a director at NITDA, Abdullahi said: “According to a study by McKinsey, digital technologies have the potential to create $13 trillion in economic value by 2025. The Digital Economy is transforming the way we live, work and interact with each other. It is creating new opportunities for businesses, governments, people and institutions to collaborate and innovate.
“The digital economy is driven by advances in technology such as the internet, mobile devices, and cloud computing. These technologies are making it possible for businesses to reach new markets and customers, and for individuals to access information, goods and services from anywhere in the world.
“Therefore, in order for us to fully reap the potential benefits of the digital economy, we have to aggregate our resources together as government, people and institutions. The triple helix model is an interaction among these three for the purpose of fostering the economic transformation of various sectors of the economy.
“ In this case, our Ivory Towers are the main source of impacting knowledge, research and intellectual discussions. The people and industries being the principal vehicle of commercialization while the government retains its crucial regulatory role. Government’s role is therefore critical in the development of the digital economy because it must create an environment that is conducive for innovation, investment and growth,” he stated.
Abdullahi recalled that in recognition of technology as a catalyst for rapid transformation of the economy, the Ministry of Communications and Digital Economy had developed the National Digital Economy Policy and Strategy (NDEPS) for a digital Nigeria which was unveiled in 2019, in line with the vision of President Muhammadu Buhari .
He added that the rigorous implementation of the NDEPS, by all relevant stakeholders has recorded unprecedented milestones, such as the unprecedented 18.44% contribution of the ICT sector to GDP in Q2 2022.
He said NITDA plays a critical role in the implementation of the NDEPS and is at the forefront of promoting technology, innovation and building Nigeria’s digital economy.
“In building a Digital Economy, NITDA has developed and implemented several projects with the resolve to develop digital skills in educational institutions and rural communities across the country.
“Therefore, in order for us to fully reap the potential benefits of the Digital Economy, we have to aggregate our resources together as government, people and institutions. The triple helix model is an interaction among these three for the purpose of fostering the economic transformation of various sectors of the economy. In this case, our Ivory Towers are the main source of impacting knowledge, research and intellectual discussions. The people and industries being the principal vehicle of commercialization while the government retains its crucial regulatory role.
“Government’s role is therefore critical in the development of the Digital Economy because it must create an environment that is conducive for innovation, investment and growth. NITDA has mapped out its 2021 to 2024 Strategic Roadmap and Action Plan (SRAP) with 7 pillars, which have been inspired by the vision of NDEPS. The implementation of the strategy will not only ensure the development, usage, and sustainability of digital technologies but will also deepen Nigeria’s economy digitally, diversify the economy, promote innovation and digital literacy among others.
“ The NITDA SRAP is focused on the facilitation of a rapid transformation of the Digital Economy through elaborate stakeholder collaborations in the implementation of the NDEPS. All 7 pillars of the Roadmap and their objectives require extensive collaboration with stakeholders to achieve their aims.One of the objectives of the NITDA strategic plan is to implement programmes that would facilitate digital transformation in Nigeria. In line with this, some very important pillars that relate largely to our theme today are Digital Literacy and Skills for the development and adoption of digital literacy standards for Nigeria.
“According to the World Bank, increasing digital literacy by just 10% can increase GDP by 1.4%. Another pillar is Digital Innovation & Entrepreneurship for the creation of an ecosystem for Innovation Driven Enterprises and MSMEs to thrive. According to the World Bank, MSMEs (Micro, Small, and Medium Enterprises) account for 90% of all firms and provide two-thirds of employment opportunities globally. They also play a significant role in driving economic growth and innovation, particularly in developing countries. However, they often face challenges in accessing finance, markets, and other resources, which can limit their growth potential. Therefore, fostering an ecosystem for MSMEs to thrive, like the one proposed in the Digital Innovation & Entrepreneurship pillar of the NITDA’s strategic plan have a significant impact on the overall growth of the Digital Economy.
“Tertiary institutions play a critical role in the development of the Digital Economy. They are the engines of innovation and provide the knowledge, skills, and research necessary for the Digital Economy to grow. It is important that these institutions align their activities and curriculum with current societal demands and provide opportunities for students to gain hands-on experience through internships at relevant organizations,” NITDA chief executive submitted.
Earlier, the acting vice chancellor of KWASU, Prof Shaykh Jimoh, had said that the lecture is, “ one other way the university is contributing to the growth of her immediate and extended environment, by bringing together key players in the digital economy world to sensitise participants of the diverse ways the digital economy can be jointly harnessed by the government, the people and the institutions to drive the economy and improve the general quality of life of the people.
Jimoh noted that in the history of the world, digital technologies have advanced more rapidly than any other innovation, so much so that the world has transformed into a digital world where everyone; governments, organisations and individuals, have become dependent on some form of digital support however simple.
He said that the world has become increasingly interconnected, adding that the COVID-19 pandemic was a period the world saw the need and the importance of advancing how things were being done.
“It was a time the digital world came to the rescue of humanity. It allowed scientists who were working on the virus and on patients to carry out experiments and exchange ideas and findings real time with other colleagues. This ensured the early discovery of a vaccine. It showed us the need to decentralise converging in a place at a time. It showed the world the possibilities of achieving so much with so little. For instance, in education, virtual learning environments and distance learning have opened up programmes to students who would otherwise be excluded,” he added.
Chairman, Board of KWASU’s CDE, Prof Kajogbola Ajao said:” The centre for digital economy, a collaboration between KWASU and Ilorin Innovation Hub, is one of the many initiatives of our late vice chancellor, Prof Muhammad Mustapha Akanbi (SAN).
“In due course, KWASU will be one of the very first universities in Nigeria to award B.Sc in Digital Economy.”
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