Why collaboration, policy harmonisation, skill acquisitions are crucial for a digital economy

Key information and communication technology (ICT) stakeholders and experts stress that the role of broadband development in stimulating economic growth, policy harmonisation for enhancing ICT infrastructure and attracting bothforeign and local investments, as well as human resource development are paramount to Nigeria’s move to truly achieve a digital economy.

The policy makers, stakeholders and IT experts came up with this unanimous agreement at a one-day conference themed; ‘Africa-China Cooperation in ICT and Digital Economy’, organised by the NigerianInstitute of International Affairs incollaboration with the embassy of the People’s Republic of China in Nigeria and Huawei Technologies Company (Nigeria) Limited.

With huge growth potentials from technology, it has become important for Nigeria’s ICT sector to come with ideas on how to tap into its human capital by investing a great deal in skills acquisition while also paying attention to policy harmonisation and strategic collaborations with already technologically advanced economies of the world.

According to a study by PWC, constrained digital economies can potentially realise a 0.5 percent increase in GDP per capita for every 10 percent increase in digitisation. The study also highlights that digitisation also has a significantimpact on job creation in the overall economy: an increase of 10 percent in digitisation reduces a nation’s unemployment rate by 0.84 percent.

In his opening remarks, Lanre Osibona, special advisor on ICT to Yemi Osinbajo, the vice president of Nigeria, stated that there is an urgent need to overcome challenges facing the nation to leveraging ICT to fuel the fourth industrialrevolution that brings about digital economy.

‘Africa must develop its skills. We must know how to scale workforce and move away from business base outsourcing to knowledge base outsourcing. Data is the future and new hope. For us as a country we must invest heavily in capturing data,’ Osibona said.

Also speaking at the conference, Zhon Pingjian, the ambassador of China to Nigeria, said that ‘China will continue to share its development opportunities with African countries and welcome them on board the train of China’s development.’

The conference featured discussions on policy issues with a view to propose a domestic approach to not only enhancing the strategic priority of ICT and penetration of fixed broadband, but also improvingconnectivity through cost-effective network deployment, and easing the development of local content such as e-commerce in accelerating economic growth.

Adebayo Shittu, minister of communication, said Nigeria’s revolution in the ICT sector accounts for well over $32 billion in foreign direct investment over the last 15 years. Such investments ininfrastructure has created an ICT backbone that powers various critical sectors of the economy such as Banking, E-commerce, Insurance, and Oil & Gas. He advocated the need for all stakeholders to strengthen the technology and innovation ecosystem by supporting the development of innovation hubs in partnership with the private sector.

‘This conference provides the opportunity to jump start the critical game-changing steps needed to make Nigeria’s objectives a reality in digital economy. Beyond this conference, we must work to strengthen relationships and knowledgemanagement platforms towards building the better and more digital future that we seek.’ Shittu said.

Digitisation, widespread adoption of digital technologies and applications by corporates, government and consumers, is beneficial for an emerging economy like Nigeria.

Speaking at the event, Tank Li, managing director of Huawei Technologies Nigeria, stated that a robust ICT infrastructure is the bedrock for digital transformation in Nigeria, and to unleash digitaleconomy potential in the country, issues of availability and affordability need to be addressed.

‘In order to foster digital transformation of the economy, policies and programs to increase ICT infrastructure and ensure wide-spread coverage both in urban and rural areas should be prioritised to make voice and data servicesavailable; At the same time, strategic measures of infrastructure sharing, investment-friendly regulatory framework and preferential taxation policies are needed to reduce sites acquisition and broadband deployment costs in order to bring down the cost for users to really encourage application of ICT across the industries and the whole society.’ Li said.

The conclusive take out from the conference was a call for a framework and policies from the government that will foster broadband Infrastructure development in Nigeria to help stimulate GDP growth. As well as a need to continue to collaborate with private sector and foreign investors that help to drive innovation for scaling ICT in Nigeria.

Jumoke Akiyode-Lawanson

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