Nigeria to become a world power, here’s why

  • Nigeria’s quest to become a leading digital economic state has further received a major boost
  • Vice President Yemi Osinbajo recently made a case for the digital sector stating that good and favourable policies can make digital economy a reality
  • He, however, called for a synergy between the government and private sector to foster economic change

FCT, Abuja Yemi Osinbajo, the Vice President of Nigeria says the country has the potential to go toe-to-toe with other world powers in digital economy.

As reported by the Vanguard, Osinbajo made this known on Monday, October 10 at the Nigeria Digital Economy Summit (NDES).

Yemi Osinbajo, Digital Economy
Vice President Yemi Osinbajo said that with the right policies in place Nigeria can become a top digital economic nation. Photo: Yemi Osinbajo
Source: Twitter

Osinbajo said if the right approach and policies are put in place, there will be no limit to what Nigeria can do in the digital space.

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He said Nigeria can be a powerhouse for a digital economy with the caliber of human capital and potential in Nigeria.

Osinbajo said:

“A whole new world is unfolding before our very eyes, unlike Web 1 and 2 where we were relatively disadvantaged. In 1989 we didn’t have mobile phones so we could not take advantage of the reach and depth that mobile telecoms gave digital innovation and financial inclusion. We are now better positioned to be significant players in Web 3.

“We have already shown that we have the talent, creativity and acumen to build and grow major tech companies. At the last count, we have 6 unicorns and many more on the way. But we must spend time on the development of digital skills.”

VP Osinbajo calls for collaboration with private sector

Meanwhile, the vice president also noted that there is a need for a collaboration between the government and the private sector in a bid to champion the course of the digital economy.

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He said a synergy between both entities can further foster an evolution in the digital economic space.

Osinbajo said:

“We must think through and develop appropriate policies and regulations that promote, rather than inhibit, innovation and commerce. We can be world leaders in the Web 3 revolution. The only limit is our vision.”

2023 budget: Aso Rock to spend N14bn on internet data subscription

In another development, a breakdown of the 2023 budget for the fiscal year has begun to emerge.

According to the details in the budget, the sum of N14 billion will be used for the internet, paper, computers, and a host of others in Aso Rock.

Interestingly, further breakdown revealed that the N14bn will also cover for electricity and water charges.


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