Nigeria has taken a momentous step towards strengthening its digital economy by unveiling the National Data Strategy on Wednesday.
The strategy, which was launched in March last year, aimed to harness the power of data to stimulate economic growth, innovation and inclusivity in the country.
Director-General of National Information Technology Development Agency (NITDA), Malam Kashifu Inuwa, made the disclosure during the inauguration of a Technical Working Group (TWG) and workshop on the Implementation of National Data Strategy (NDS).
During the launch event, Inuwa emphasised the strategic importance of data in driving the digital economy. Quoting figures from reputable sources like the World Economic Forum and Statistics, he highlighted the substantial value of the data economy, which is currently estimated to be over $3 trillion and projected to reach $5 trillion in the future.
“The digital economy is worth more than $16 trillion, and digitally transformed enterprises contributed $13.5 trillion to the global GDP in 2018.
“This year, it is projected to contribute a staggering $53.5 trillion, accounting for over 50% of the global GDP.
“The National Data Strategy revolves around seven key pillars that are crucial to Nigeria’s successful transition to a digital economy which are Data Literacy and Skills, Data Security and Privacy, Data Sovereignty, Data Infrastructure,
Data Harmonization, Data Usability, Inclusivity and Accessibility,” Mallam Inuwa stated.
He also emphasised that data is the currency of the digital economy and urged the Technical Working Group to provide productive recommendations that will help regulatory agencies effectively implement the strategy.
Also speaking at the event, Permanent Secretary, Federal Ministry of Communications and Digital Economy, Dr. Williams Alo, said the Nigerian government had officially launched the National Data Strategy (NDS).
In his words, “The National Data Strategy was developed by the National Data Technical Working Group, comprising experts from various sectors, to address the critical role of data utilization in Nigeria.
“The government recognizes the significance of data access, ethical and responsible data usage, data privacy, data protection and data governance in ensuring the well-being and privacy of citizens while promoting innovation.
“We must collaborate across sectors, engage stakeholders and ensure that every voice is heard to harness the full potential of data.
“The NDS roadmap will guide Nigeria in leveraging data to identify new opportunities, optimize existing processes, and make informed decisions that accelerate economic growth” Alo stated.
The Permanent Secretary expressed his heartfelt gratitude to President Bola Tinubu for his unwavering commitment to the Renewed Hope agenda and his vision for a data-driven Nigeria.
Participants were commended for their dedication and expertise, seen as the driving force behind the successful implementation of the Nigeria Data Strategy.
