Technology-driven telecommunications industry, according to Executive Vice Chairman (EVC) of Nigeria Communications Commission (NCC), Prof. Umar Danbatta, has contributed $70 billion to the nation’s economy.
Danbatta made this disclosure at the weekend while speaking at a Cyberchain event in Abuja on the topic, “Using Technology to grow Nigeria’s GDP”.
He stated that technology has had a significant impact on society as a whole.
Represented by the Principal Manager Digital Economy, NCC, Mrs Eli Ella, the EVC Danbatta emphasized that Nigeria’s adoption of 5G, E-commerce, Fintech, and Big data has increased the country’s capacity for revenue generation.
According to him, “Nigeria’s adoption of digital technologies has enabled it to diversify its revenue and economy, created jobs, improved services and efficiency, reduced wastages, and optimised resources available”.
“Telecommunications has contributed over $70 billion to the Nigerian economy, provided over 500,000 jobs in the formal and informal sectors, and improved the lives of millions of Nigerians.
“Most Nigerians today cannot comprehend life without mobile phones. Presently, the liberalised telecommunications sector has brought with it, instant messaging, instant information, financial inclusion, telemedicine, smart farming, eCommerce and virtual learning, however, the best is yet to come.
He added that, “the benefits of technology are endless, and with technology becoming affordable, accessible, and available, these benefits will increase tremendously”.
Earlier in his opening remarks, the Convener, CyberChain Abuja, Jude Ozinegbe, said Nigeria is currently moving in the right direction towards embracing the gains of tech ecosystem.
“We are moving from Analoge to digital, some people seem to have been left behind, that is why we have decided to gather leaders in the space to educate us. We have leaders in this space that have seen the possibility and opportunity in this ecosystem.
“This is my contribution to expanding digital economy in Nigeria. As much as you can, contribute something positive about the space to amplify the good tidings within the ecosystem”.
He said with proper knowledge of Blockchain, Nigeria youths can earn by using their phones and data.
On his part, a Crystocurrency Investigator, A and D Forensic, Adedeji Owonibi urged Nigeria youths to embrace the gains of Blockchain technology.
Speaking on the topic, “Blockchain Forensics and criminal elements, Owonibi said a better dimension has been added to Blockchain and Digital technologies in Nigeria with the participation of the government.
“If you are criminal within the Blockchain space, you could do anything in Nigeria, however with our coming and government involvement, we all have a part to play in bringing sanity in the sector.
He said, decentralisation is a blessing for the ‘good guys’ in the Blockchain sector, while a bad thing for those using it criminally.
He called for responsibility on the part of Nigerians in a bid to harness Blockchain opportunities.
“If you have any business in blockchain make sure you are compliance with rules and be crypto security conscious”, he said.
