The founder and Chief Executive Officer of Folbemos Limited, Engineer Folajimi Buraimoh, stated on Friday that unlocking Nigeria’s dormant capital in 5G Networking, Artificial Intelligence (AI) and Augmented Analytics, Cloud and Edge Computing, Digital Economies, Cybersecurity and Resilience, Blockchain Technology, and Transportation, is driving diversification, which would catalyze the nation’s economic recovery.
Buraimoh also attributed the high levels of hardship, including a high poverty rate, a high unemployment rate, inaccurate and comprehensive databases, and restricted access to the Internet of Things (IoT).
Recalling the time during President Muhammadu Buhari’s administration, Folajimi Buraimoh submitted a report titled “Individual Systematic Identification (ISI)” aimed at providing a solution to “rebuilding trust between citizens and the governing body,” but it was revealed before his tenure ended.
In a statement issued by Buraimoh himself, he called on President Tinubu to revisit the report so that it can help Nigerians, especially during these trying times.
He noted that many Nigerians are unable to attain the minimum wage, living below the average of 61 cents per day (equivalent to N231.95). This poses a threat to the economy, as citizens cannot afford basic necessities.
“Many citizens have no viable or stable employment, contributing to the high poverty rate. Unable to afford necessities sold in shops and markets, many have turned to counterfeiting.
“Shop owners cannot achieve daily/weekly sales, affecting the tax system. These individuals are termed ‘unemployed.’
“Several databases have different groups of citizens documented, but these databases are not comprehensive.
“There is no proper or adequate census database, resulting in many citizens being undocumented.
“Nigeria is technologically and networking-wise behind, with restricted access to the internet and underutilization of digital resources. There is no functional digital or networking system meeting citizens’ needs,” he said.
Speaking about the report’s essence, he explained that it includes data-basing the masses, developing a functional job system for them, making Nigeria a leading country in the digital era, creating a new identity for the corporate strategic system, revolutionizing mindsets through the importance of better work ethics, merging traditional and current mindsets, and encouraging an everlasting solution that will revitalize Nigeria.
The report also aims to create a system to register and document the unemployed, placing them in suitable workspaces based on their skills. It introduces a viable tax system to inject money back into Nigeria’s economy.
“Creating new jobs, advancing technology, and penetrating mainstream sectors like transportation, trading, and communication.
“The ISI system will favor the lower class, especially the unemployed majority. Nigeria has a range of skilled and unskilled labor, but due to a lack of visibility and data for investors, it has experienced a brain drain. Implementation ensures a basic standard of living.
“Every applicant will receive an ISI number and Identification card, stating their bio-data, qualifications, skills, and classification. This enables the ISI team to find well-suited jobs.
“He stated that the Federal Inland Revenue Service (FIRS) has been seeking scalable methods and partners to bring more people and businesses under its tax bracket.
“Implementing a tax system for the masses requires tax payment, injecting money into the country’s economy over time.”
