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Nigeria’s digital economy outlook for 2024

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By Blessing Emmanuel, Abuja

As Nigeria enters the new year, the outlook for its digital economy in 2024 appears promising, marked by key developments and trends that are expected to shape the nation’s digital landscape.

  1. Increased Internet Penetration:With the growing adoption of digital services, Nigeria is likely to see an increase in internet penetration. Efforts to expand broadband infrastructure and the proliferation of affordable smartphones are expected to contribute to a more connected population, fostering digital inclusion across urban and rural areas.
  2. Fintech Innovation: The financial technology sector is poised for further growth and innovation in 2024. With a surge in digital payments, blockchain technology, and the emergence of new fintech startups, Nigeria’s financial landscape is undergoing a digital transformation that will enhance financial services accessibility for a wider population.
  3. E-commerce Boom: The e-commerce sector is set to experience a boom, driven by increased consumer confidence in online shopping, improved logistics, and the growth of digital payment platforms. As more businesses embrace online retail, the e-commerce ecosystem is expected to thrive, offering consumers a broader range of goods and services.
  4. Cybersecurity Measures: With the rise in digital activities, cybersecurity is a critical concern. Expect increased focus on cybersecurity measures to protect individuals, businesses, and government entities from evolving cyber threats. Collaborative efforts between the public and private sectors are likely to be intensified to fortify the nation’s digital infrastructure.
  5. Government Digital Initiatives: The Nigerian government is anticipated to roll out various digital initiatives aimed at improving public service delivery, governance, and overall efficiency. From e-governance platforms to digital identity systems, these initiatives are expected to enhance government-citizen interactions and contribute to a more transparent and accountable administration.
  6. Tech Talent Development: The demand for skilled professionals in the technology sector will likely lead to increased investments in tech education and training. Initiatives to develop a robust pool of tech talents will contribute to a more vibrant digital economy, attracting both local and international investments. More so with the 3MTTT project by the Minister of Communication, Innovations and Digital Economy, Bosun Tijani, there is set to be a surge in the talents that Nigeria will be able to export and also utilise to boost in-country capacity.
  7. Sustainable Tech Solutions: Sustainability is expected to be a key focus in Nigeria’s digital economy. Innovations geared towards environmentally friendly practices and sustainable technology solutions are likely to gain prominence as the nation aligns with global efforts to address climate change through technology.

Conclusion

As Nigeria sets its sights on a digital future, these trends and developments provide a glimpse into the transformative journey ahead. With a dynamic digital ecosystem, the nation is well-positioned to harness the opportunities offered by the digital age, fostering economic growth and societal development.

Infotech

May Day: Glo salutes Nigerian workers

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Digital telecommuni cations solutions provider, Globacom, has saluted Nigerian workers as the country observes this year’s edition of the International Workers’ Day. The company enjoined them to rededicate themselves to excellence so as to take Nigeria to the next level.

In a solidarity message released on Tuesday, Globacom lauded the resilient spirit of workers in spite of present challenges. It urged them to use the opportunity of the Workers’ Day to reflect on how their contributions can build a better and more vibrant society.

“We salute Nigerian workers on this day and commend them for the hard work, commitment, resourcefulness and industry which are essential for the growth of the economy of any nation,” Globacom said, and urged them not to rest on their oars.

The company noted that the story of Nigeria cannot be complete without the huge contributions of workers, both in the public and private sectors.

The International Labour Day is observed annually on May 1 to recognise the contributions of workers all over the world. It is also used to promote a fairer and more sustainable future for all by advocating for workers’ rights.

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Abaranje fire: Company sues for calm, assures victims of healthcare support

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By our reporter

Carville Integrated Ventures Limited, a leading telecoms facility management services provider, has appealed for calm following the recent fire incident at Abaranje Base Station.

The company manages base stations on behalf of Airtel Nigeria.

In a statement, the Management of Carville noted that the incident occurred during maintenance operations on a leaking part of a diesel tank, resulting in injuries to some individuals from the local community who forcefully gained unauthorised access into the facility hosting the base station during the maintenance work.

The company however sympathised with the victims while promising to provide healthcare support to them.

“The management of Carville Integrated Ventures, extends her condolences to the affected individuals and their families, stating, ‘Our hearts go out to those injured in the unfortunate incident. We are committed to providing support and assistance during their recovery process.’

“We stand by our commitment to the communities we serve, and we will continue to prioritize their welfare in all our operations.”

“Furthermore, Carville appeals to community leaders and members to cooperate with the company in implementing safety measures to prevent similar incidents in the future.”

“Safety is our top priority,” the management affirmed. “We urge everyone to adhere to safety protocols and guidelines to ensure the well-being of all.”

“Carville is working closely with local authorities and regulatory bodies to conduct a thorough investigation into the incident and implement necessary measures to prevent recurrence,” the statement read.

Meanwhile, Airtel Nigeria has also in a statement sympathised with the victims of the fire incident.

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Digital identity: FG, Bill Gates partner to harmonise database

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By our reporter

The Federal Government and Microsoft Founder and Philanthropist, Mr. Bill Gates are in talks to develop a system that will help Nigeria harmonise her identity system database.

The Microsoft Founder made this known when he met with President Tinubu on the sidelines of the World Economic Forum Special Meeting in Riyadh, Saudi Arabia, on Sunday.

According to Gates, “We are working with Mr. Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, on digitisation. Before you came into office, there were a few things attempted in identity management. But they have been very scattered. There have been multiple identification systems.

“Now, there is a plan to take that technology called MOSIP and use it for this identification platform so that people can get digital benefits. We are providing support for that, and we can provide more support.

“With MOSIP ID, there is potential application in all government payment programmes. It helps with payment efficiency and bank accounts, and eventually, when everyone is using that, it makes tax collection easier. That benefit will take a few years. However, there will be more bank accounts, more financial inclusion, and effective government payment programmes,” the Former Chief Executive Officer of Microsoft said.

Mr. Gates said Nigeria has the capacity to manage this system and related-technological systems as the nation brims with talented youths.

“The last time I went to the Microsoft office in Lagos, I saw the amazing work that they were doing and how they were growing their operations. So, you have a lot of Nigerian talents to manage these systems,” he said.

Responding, President Tinubu noted that his administration is investing in technology that is tailored towards ensuring transparency and accountability in government and accelerating public-sector performance and service delivery to the Nigerian people.

Emphasising his unwavering commitment to deliver reliable technology that will support a national consumer credit system and many other critical new government interventions for all Nigerians, the President said resistance is often expected when efforts are made to strengthen systems and forestall malfeasance.

“Technology is the enemy of fraud, corruption, and irregularity. We have been working hard on improving technology.”

“There is always the initial resistance. Corruption, self-interest, and fraudulent activity will always be an enemy, but when you bend that curve, you will receive the benefit. The nation will receive the benefit,” the President said.

The President also stated that he is proud of Nigeria’s youths noting that they encourage him to continue to press his reform efforts forward for their future prosperity.

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