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Federal Government of Nigeria Looking to Digitize the Economy to Encourage IT Skills Acquisition

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Last updated on July 15th, 2020 at 11:45 am

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Minister of Information and Digital Economy, Dr Ali Pantami says that the federal government of Nigeria is looking to digitize the country’s economy into a knowledge-based economy.

He maid the statement during the launching of an Information Technology and Innovation Centre by the National Informational Technology Development Agency (NITDA) at the University of Portharcourt (UNIPORT).

Pantami notes that the facility, known as Information Technology Innovation and Incubation Park building would be used to nurtue ideas that will be applied to help the economy grow and achieve financial inclusion. 

 “This policy was derived after we came up with the idea of establishing IT skills centres all over the country.”

The world is moving from natural-resources based economy to knowledge –based economy. The federal government is building up regulations and regulators to help the government achieve a digitized economy for Nigeria. 

He also remarks that many countries, including the United States, China and European, no longer employ people based only on degrees but skills acquired.

“Recently, China shut down 600 universities and converted them to skill acquisition centres.”

Nigeria is not left behind in the digitisation of the country’s economy. In a bid to digitize the economy and achieve financial inclusion, four countries in Africa are looking into creating Central Bank Digital Currency (cbdc) . 

The focus on the digital economy and the new data oil growth will create room for competition making digital services convenient and efficient. 

This also calls for the need to put up a proper regulation and system addressing the use of digital services. Not excluding the use of blockchain technology and AI to foster the economic growth.

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