/FG committed to fast-tracking Nigeria’s digital economy -Pantami
FG committed to fast-tracking Nigeria’s digital economy -Pantami

FG committed to fast-tracking Nigeria’s digital economy -Pantami

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The Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, has re-emphasised the resolve of the Federal Government, through the ministry, to continually advance the digital economy agenda of the country.

Pantami stated this while delivering a keynote address at the maiden edition of the National Dialogue on Telecoms and Information and Communications Technology, ICT, Sectors in Nigeria held at the NAF Conference Centre and Suites, Abuja on Thursday.

The event was organised by the Association of Telecommunications Companies of Nigeria, ATCON, in collaboration with other industry stakeholders.

Represented by the Executive Vice Chairman and Chief Executive Officer of the Nigerian Communications Commission, NCC, Prof. Umar Garba Danbatta, the minister said the event with the theme: ‘Harnessing the Digital Resources for the Building of Our National Economy’ and sub-themes lined up for discussions, were apt and timely, given the increased reliance of individuals and businesses on digital platforms to carry out their activities.

Pantami stated that the digital economy journey started by the ministry, following the president’s approval in 2019, culminated in the development of an eight-pillar National Digital Economy Policy and Strategy, NDEPS, with a view to providing a more coordinated and enhanced national policy direction for transforming Nigeria’s economy into a truly digital economy.

He said that NDEPS is a policy document that addresses different aspects of development that require attention in order to have a vibrant digital economy, adding that, like Nigeria, most nations are prioritising the need to develop their digital economies because of the multiplier effect on all other sectors of the economy.

The minister noted some of the challenges of the digital economy to include rapid evolution of technology and widening inequalities between the digital “haves” and “haves-not”; need for new regulations; cybercrime and other threats; low level of digital literacy; and the need for infrastructure.

While expressing optimism about Nigeria’s digital economy strategy, the economic growth and productivity; increased transparency; growth of digital innovation and entrepreneurship; digitisation of work and useful insights from big data as some of the opportunities that abound and from which the economy will gain.

“The telecom and ICT sector stand to gain a lot from the development of our digital economy and the public and private sector need to come on board to maximise the impact on the entire economy,” the minister said.

However, speaking in his capacity as the EVC of NCC and lead presenter at the second panel session on the theme: “National Funding and Investment Strategy for Broadband Infrastructure and Digital Economy”, Danbatta spoke on what the commission had done in the last five years, especially in stimulating the development of resilient ICT infrastructure and the benefits the regulatory efforts had brought to the economy.

Situating his presentation in the context of ‘Nigeria’s Telecom Sector: Yesterday, Today and Tomorrow,’ Danbatta explained that access gaps in the country had been reduced from 217 in 2015 to 114.

“We have licensed Infrastructure Companies (InfraCos); we have introduced innovative policies such as spectrum trading and spectrum farming; broadband penetration has increased from 6 percent to 43.3 per cent in the last five years. Also, from 8 per cent in 2015, the telecoms sector contributed over 14 per cent to the country’s Gross Domestic Product (GDP) as in the second quarter of 2020, valued at N2.3 trillion,” Danbatta said.

Meanwhile, the EVC has urged telecom operators in the country to settle the huge interconnect debts being owed by various industry operators, noting that that  should be resolved in the wider interest of the industry. Danbatta said the “interconnectivity indebtedness valued at over N70 billion is a big challenge to infrastructure expansion and inimical to healthy competition” which are needed for facilitating digital economy in Nigeria.

Earlier in his welcome address, the President of ATCON, Olusola Teniola, said the national dialogue was targeted at harnessing the digital resources in the country with a view to optimising innovative ideas to effectively pursue the digital economy agenda of the Federal Government.

The event featured insightful panel discussion sessions by industry stakeholders and goodwill messages by state governments’ representatives across the six geo-political zones, who used the platform to talk about how their states were leveraging ICT deployment to drive their economic activities and the development of their states.