Business
IBRAHIM Pantami, minister of communications and digital economy, has said that for Nigeria to sustain national development, it must embrace digital transformation of the economy. He says the transition to digital economy is a global march and that the country cannot afford to sit on the fence.
Speaking at the webinar Information Communication Technology and Telecommunications Conference and Exhibition, ICTEL EXPO 2020, organised by the Lagos Chamber of Commerce and Industry, LCCI, Pantami said that digital economy was creating opportunities in the emerging world with innovations resulting from digital technologies impacting virtually every sector – retail, transport and logistics, financial services, manufacturing, education, healthcare and broadcasting.
“Now is the time to quicken the alignment our digital transformation agenda with our economic needs. Globally, businesses are shifting from brick and mortar form to innovative enterprises driven by digital technologies. Now is the time for businesses, enterprises and organisations, whether public or private to reinvent and automate to fit into the global digital economy. This new reality and lessons learnt from the ‘new normal’ arising from the COVID-19 pandemic makes it mandatory for Nigeria, like other developing countries, to rise up to the challenge, innovate and occupy her place in the global digital economy.
“In the National Digital Economy Policy and Strategy, NDEPS, digital economy is referred to as any aspect of the economy that is based on or driven by digital technologies. Globally, digital revolution is changing lives and societies with unprecedented speed and scale, delivering immense opportunities as well as associated challenges. As predicted by the World Economic Forum, over 60 percent of global Gross Domestic Product, GDP, will be digitised by 2022 and that over the next decade, digital platforms will be used to create close to 70 percent of new value,” he said.
Pantami noted that the role of government, as the driver of the digital economy, cannot be overemphasised, especially in formulation and implementation of national ICT policies, as well as sustaining infrastructure. Therefore, to actualise the dream of a digital Nigeria, he said the government re-designated federal ministry of communications and digital economy came up with National Digital Economy Policy and Strategy, NDEPS, (2020-2030), which was unveiled by President Muhammadu Buhari last year and the Nigerian National Broadband Plan, NNBP, 2020-2025 early this year.
He said the NDEPS document was based eight pillar which are developmental regulation; digital literacy and skills; solid infrastructure; service infrastructure; digital services development and promotion; soft infrastructure; digital society and emerging technologies; and indigenous content promotion and adoption. The NNBP is designed to deliver data download speeds across Nigeria of a minimum 25Mbps in urban areas, and 10Mbps in rural areas, with effective coverage available to at least 90% of the population by 2025 at a price not more than N390 per 1GB of data (two percent of median income or one percent of minimum wage).
Food prices rose in August – NBS
THE National Bureau of Statistics, NBS, has said that the prices of foods rose in the month of August 2020. NBS said the selected food price watch data reflected that the average price of one dozen of agric eggs medium size increased year-on-year by 3.70 percent and month-on month by 1.02 percent to N478.97 in August 2020 from N474.12 in July 2020.
According to the NBS, the average price of piece of agric eggs medium size (price of one) increased year-on-year by 5.44 percent and month-on month by 0.76 percent to N42.78 in August 2020 from N42.45 in July 2020. The report stated that the average price of 1kg of rice (imported high quality sold loose) increased year on-year by 40.69 percent and month-on-month by 2.30 percent to N501.71 in August 2020 from N490.44 in July 2020.
It added that the average price of 1kg of yam tuber increased year-on-year by 34.74 percent and decreased month-on-month by -0.15 percent to N256.06 in August from N256.44 in July. NBS said the average price of 1kg of tomato increased year-on-year by 29.48 percent and decreased month-on-month by -4.65 percent to N289.86 in August 2020 from N304.01 in July 2020.
– Sept. 25, 2020 @ 15:35 GMT |
Tags: Why Digital economy is imperative in Nigeria – Pantami
