ICTEL EXPO 2020: Stakeholders charge Nigerians to embrace opportunities provided by digital economy

Nigerians have been called upon to key into the opportunities provided by the digital economy by deploying technology needed for economic recovery and sustainability particularly now, that the nation is seeking ways to overcome the restrictions imposed by the COVID-19 pandemic.

Stakeholders in the Information and Communications Technology (ICT), amongst others disclosed this at the virtual Information Communication Technology and Telecommunications Conference and Exhibition, ICTEL EXPO 2020 with theme: ‘Exploring Opportunity in the Digital Economy’, organized by Lagos Chambers of Commerce and Industry.

President, Lagos Chamber of Commerce & Industry LCCI, Mrs. Toki Mabogunje, speaking at the conference, said: “there is no better time to explore the opportunities provided by the digital economy than now when every nation is seeking ways to overcome the restrictions imposed by the COVID-19 pandemic. And as nations face dwindling growth, deployment of technology is key to economic recovery and sustainability.”

Mabogunje, highlighted that the new normal brought about by the Covid-19 pandemic has encouraged virtually all sectors to now leveraged ICT for optimal performance.

She said “This is evident in the financial services sector, where almost all banking transactions are conducted through digital channels, the agriculture sector, where sophisticated technologies, such as robots, temperature and moisture sensors, aerial images and global positioning systems, the GPS technologies, are largely employed.

“Nigeria has witnessed a phenomenal growth in its ICT sector over the past decade.

“The ICT sector remains one of the most resilient sectors of the Nigerian economy, even in the face of the COVID-19 pandemic.

“As a foremost private sector body in Nigeria today, established since 1888, the Lagos Chamber is providing, through this expo, an incredible platform, to advance the opportunities and linkages in the world of ICT”, President LCCI added.

Earlier, the minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, while declaring the conference and exhibition open, said that globally, digital revolution is changing lives and societies, with unprecedented speed and scale, delivering immense opportunities, as well as associated challenges.

The Minister, who was represented by the Executive Secretary, Universal Service Provision Fund (USPF), Mr. Ayuba Shuaibu, hinted that as predicted by the World Economic Forum, over 60% of global Gross Domestic Product, (GDP), will be digitized, by 2022 and that, over the next decade, digital platforms, will be used to create, close to 70% of new value.

“Globally, businesses are shifting from brick and mortar form to innovative enterprises driven by digital technologies, and now is the time for business, enterprises and organisations, to reinvent and automate, to fit into the global digital economy.

“I want to congratulate the Director General and members of the Lagos Chambers of Commerce and Industry for organising this Information Communication Technology and Telecommunications Conference and Exhibition, ICTEL EXPO 2020, to spotlight this national discourse, on how we can take advantage of digital technology for accelerating our economy”, the minister concluded.

Ms Funke Opeke, CEO/Managing Director, MainOne and Chairperson, Presidential Committee on National Broadband Plan,  delivering her keynote address, identified three activities that will enable digital economy to work well in our clime, adding that these include connectivity, a device and a platform that enables one to connect with parties at the other end.

Opeke, said “When we look at private sector participation in Nigeria and the challenges we face as an economy, especially with the recession, with the dip growth rate and high inflation economy that we have and I think the recognition, globally, that growth across the world can only be fuelled by digital adoption in the years to come. I think it is important that our government provide more support to the ICT industry.”

Some panel discussions also took place on the first day of the event, while some companies exhibited their products and solutions to the general public, via the online virtual platform.