World Economy

Nigeria’s Digital Economy to Generate $88b by 2021

There are indications that investments in digital economy will generate $88 billion and create three million jobs for Nigerians before the end of 2021.

Consequently, the Minister of Industry, Trade and Investment Okey Enelamah, who spoke at the “Invest in Nigeria” summit, Silicon Valley, California, stated that the federal government is resolute on creating an enabling environment for operators, AllAfrica reported.

“The technology sector has recorded some good strides—more than doubling in size over the past nine years, now accounting for 9% of our gross domestic product.”

Meanwhile, as Nigeria prepares to meet the 30% target for 2018 regarding the National Broadband Plan, an ICT expert has affirmed that digital revolution is key to achieving it. NIIT International’s head of Product and Delivery for International Education Business, Pankaj Sharma, said tech firms are helping Nigeria’s digital transformation journey.

Digital transformation has been a game changer and has impacted every aspect of the country’s business, economy and everyday life, he said. It is not just about embracing new technology, it is about a change in thought process and culture of an organization.

There is an urgent need for organizations to address the change in business scenarios, dynamic business demands and innovate ways to quickly cater to these changing needs brought forth by digital transformation.

“Digital transformation is unwittingly impacting every aspect of our daily lives. Right from the way we communicate, we learn, or we navigate, has been changed by digital transformation.

“Smartphones, google maps, social media, online learning tools, online payment gateways and many such apps and tools have immensely improved our daily lives. Digital transformation has changed the way we shop, the way we learn, the way we travel, the way we undertake our financial transactions,” Sharma said.


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