Nigeria must not miss out on the benefits of the fourth industrial revolution — Pantami 


By Ibiyemi Mathew

The Nigerian Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim Pantami has urged Nigeria to key into the benefits the fourth industrial revolution brings.

Professor Muhammed Bello Abubakar who spoke on behalf of the Minister at the launch of Digital Innovation and Creative Enterprise, said must not miss out on the benefits of the fourth industrial revolution especially when it has the capacity to create sustainable jobs for the youths of the country.

“The fact that we missed the first, second and third industrial revolution subjugated Africa to underdevelopment but we thank God that this particular fourth Industrial revolution is knowledge based and ICT driven which we have the capacity to deliver and take advantage of as a nation.” He said.

Professor Pantami noted that Nigeria is already endowed with the population that can serve as a catalyst for economic development.

Nigeria’s Vice President, Prof. Yemi Osinbajo, the President of the African Development Bank Dr. Akinwumi Adesina, and other partners launched the Investment in Digital and Creative Enterprises (i-DICE) Program in Abuja on Tuesday, 14 March 2023.

The launch marks the rollout of a flagship initiative that will drive vital funding for Nigeria’s digital and creative industries. In addition to the leaders of government, corporations, and development finance institutions, the event will feature youth working in the digital technology and creative sectors, students, and investors.

i-DICE is a major step toward significantly upscaling entrepreneurship and innovation in digital technology and creative industries, which include film, fashion, and music.

The program is part of the federal government of Nigeria’s efforts to build back better, greener, and more inclusively, and to create sustainable jobs for its surging youth population. It will consolidate the country’s position as Africa’s leading start-up investment destination and youth entrepreneurship hub.

i-DICE is co-financed by the African Development Bank, the Islamic Development Bank and Agence Française de Développement. The federal government of Nigeria is providing counterpart finance through the Bank of Industry, which also serves as the executing agency. A steering committee chaired by the vice president’s office will oversee the initiative in cooperation with a technical committee made up of business leaders, and government ministries, departments, and agencies.