Digital Technology is key to economic growth, says Edo State Governor Godwin Obaseki.
The call came at a virtual technology roundtable aimed at helping Nigerians realise their full potential and take advantage of the opportunities given by digital technology.
Nigerians have been advised to use the digital arena to boost economic growth and the country’s Gross Domestic Product (GDP).
Obaseki, speaking at the 7th Mike Omotosho Annual Lecture, said that given the kind of disadvantages in the country, the digital economy must be a key leveller to aid the country’s economic development.
“Since 2020, the world has significantly changed; this new economy has become even more amazing and substantial,” Obaseki remarked. The majority of Nigerians use the telephone to actively participate in the digital economy. The digital economy and its activities generate millions of dollars for countries and the global economy, and this is what we now refer to as the new economy, thanks to smartphone penetration and other electronic gadgets.
“Today’s method of communication is digital, and it is based on technology that has advanced as a result of the constraints we faced during the COVID-19 pandemic.”
To lift people out of poverty, Obaseki underlined the importance of creating wealth, reducing unemployment, and increasing the country’s GDP, as well as focusing on technology.
“It may not be a single magic wand, but technology obviously has a role to play in assisting us in rethinking our economy and fostering growth.”
“First, we must consider data as well as new technology. Surprisingly, digital technology may be used in practically any aspect of our lives. When it comes to developing a digital strategy for our country, we must consider very carefully.”
Dr. Mike Omotosho, the convener, stated that COVID-19 technology is causing digital transformation in all important sectors, and it is clear that individuals can be more productive by using technology.
Omotosho went on to say that it is critical for the government to use digital breakthroughs to enhance the economy, citing the fact that the wealthiest 26 people on the planet made the majority of their fortunes from digital intellectual property.
“As long as we do it well, the sky is the limit, I said this because digital solutions have the potential to revolutionise the economy.”
“To do it properly, we must be deliberate, collaborate closely with stakeholders, prepare a complete list of what is available, organise it so that it is not overwhelming, and guarantee that the content is easily accessible to everybody.”