Nigeria must leverage on the deployment of technology and Artificial Intelligence (AI) to expedite the efforts towards economic diversification and national, a group of development experts have said.
The experts who spoke on Wednesday in Abuja at a one-day lecture on the theme: “Agenda for A Digital Global Economy” organized by the Economic Confidential, called for the adoption of AI to enhance Nigeria’s growth in the fourth global industrial revolution.
Among the experts were the Director General of the National Information Technology Development Agency (NITDA), Dr Kashifu Inuwa, who was the keynote speaker; Special Adviser to the President on Economic Matters, Dr Tope Fasua, and Dr Afolabi Olajunwon of the Budget Office of the Federation.
In their presentations, they identified AI as a key factor Nigeria could embrace to drive its economic prosperity agenda.
The NITDA DG in his keynote address declared that the digital economy, using AI, has the potential of driving Nigeria’s economy up to 20 percent of gross domestic product (GDP) growth if strategically harnessed.
He artificial intelligence was no longer optional, but essential for the growth of the economy, pointing out that those who fail to upskill would be replaced, as AI can free up 20 per cent of time for higher productivity.
Nations leading in AI, he said, would lead the world, adding that Nigeria cannot afford to miss the Fourth Industrial Revolution, after losing out in the first three revolutions.
The DG disclosed that the ongoing collaborations with NITDA and the Federal Ministry of Education to build digital literacy into Nigeria’s educational system, national curriculum as well as with the Ooffice of Head of Service of the Federation to enhance civil service training were aimed at developing the capacity for the country to build a digital economy.
“Market women can now connect with customers through mobile technology. But as we connect, we must also ensure that the economy was protected as cybersecurity is a critical pillar,” he said.
In his contribution, the President & Chairman of Council of the Nigerian Institute of Public Relations (NIPR), Dr. Ike Neliaku, who spoke through Dr. Afolabi Olajuwon of the Budget Office of the Federation urged Nigeria to seize the opportunity presented by technology to grow its economy.
He warned that any nation, especially in Africa, that fails to embrace the digital revolution would be left behind in the global development.
Neliaku said that Nigeria, as the country with largest population in Africa, must not only adopt technology, but must become its exporters, to lead Africa in the 4th industrial revolution.
Nigeria at the moment, he noted, was blessed with abundant talents, but needs to imbibe the spirit of motivation to harness technology not as a consumer, but as a creator and exporter of technology.
He pleaded with Nigerian leaders to ensure that the country joined forces with international policy makers to chart a new path to a prosperous nation.
The $1 trillion economy target set by the present administration, he said, was achievable only if technology was efficiently utilised, adding that the authorities must build capacity, invest in infrastructure, and create policies that would enable innovation to thrive.
“Our task is clear: we must ensure that Nigeria’s participation in the digital global economy is inclusive, innovative, and sustainable,” the NIPR Chief advised..
Neliaku said the theme of the lecture, “Renewed Hope Agenda for a Digital Global Economy,” could not have come at a better time, as we are living in a period where technology was reshaping governance, trade, education, healthcare, and every aspect of human endeavour.
“Nations that fail to embrace the digital revolution risk being left behind, while those that seize the opportunity can leapfrog barriers to growth and development.
“Nigeria, blessed with a dynamic youth population, abundant talent, and a spirit of innovation, must advance its technology drive to keep pace with global development,” he said.
Also speaking, Special Adviser to the President on Economy in the Office of the Vice President, Dr Tope Fasua, represented by Aremu Olayinka Elijah, reaffirmed President Bola Ahmed Tinubu’s commitment to recalibrating Nigeria’s economy.
Fasua said the rebased economic data confirm measurable progress by the government, adding that the country was shifting its focus from traditional models to a tech-driven future.
The service sector, he said, was proving to be a “tremendous equalizer” in the new economy.
The highlights of the event were the launch of three groundbreaking books by young journalists: “Renewed Hope in Central Banking” by Rahman Oladosu; “Healing Nigeria: Chronicle of Health” by Lawal Mamman and Maimuna Aliyu, and “Diplomacy and Digital Innovation: Youth Insight” by Fatimah Usman
Earlier, the organiser, who is also the Chief Executive Officer of Nigeria Economic Confidential, Yushau Shuaib, noted that the books were critical tools for evidence-based policy and decision-making by the government.
