Digital Economy: The Backbone Of Innovation, Economic Development, And Societal Transformation

As Nigeria makes steady progress in its digital journey, it has become self-evident no single entity can address the complex challenges we face alone. It is through partnerships, shared knowledge, and collective action that we can drive the kind of growth that is inclusive, sustainable, and transformative, writes ADESOLA AKINSANYA.

Protocols

It is an honour to stand before you today as we gather for the NITRA ICT Growth Conference 4.0 —a platform that brings together some of the brightest minds and most passionate advocates for the advancement of our nation’s digital landscape.

Mr. Chairman, Distinguished ladies and gentlemen, I am both humbled and excited to share insights on how we, as a collective force, can harness the power of ICT to drive sustainable growth in Nigeria.

Recognizing the Moment

We are at a pivotal moment in our nation’s history. The digital economy is no longer just a sector; it has become the backbone of innovation, economic development, and societal transformation, contributing more than 14 per cent to the GDP.

From fintech startups revolutionizing financial services to digital platforms democratizing access to education, we are witnessing a paradigm shift that is redefining how we live, work, and interact. The media are also witnessing a rebirth due to the impact of technology and its advancements.

However, with these opportunities come significant challenges. Issues of digital inclusion, cybersecurity, infrastructure deficits, and the digital skills gap continue to hamper our progress. It is in forums like this that we must confront these challenges head-on and chart a course for the future.

NiRA’s Role in ICT Growth

At NiRA, our mission has always been to build a trusted and secure online presence for Nigerians. The .ng domain name, which we manage, is not just a symbol of national identity but a key enabler of digital transformation.

Over the years, we have worked tirelessly to promote the adoption of the .ng domain, thereby fostering a digital ecosystem that is uniquely Nigerian and globally recognized.

Today, I am happy to announce to this august gathering that as at August 27, 2024 we have recorded 229,596 .ng registrations. While we are celebrating this milestone, our efforts have been geared towards making the .ng domain more accessible, affordable, and secure.

We have partnered with stakeholders across various sectors to ensure that every Nigerian, regardless of their location, can have a digital identity that they can trust. This is crucial because a strong and secure online presence is the foundation upon which businesses can grow, governments can deliver services efficiently, and individuals can connect to the global economy.

Challenges and Opportunities

But we know that the road ahead is not without hurdles. Cybersecurity threats are on the rise, and with the increasing digitalization of our economy, the stakes have never been higher. At NiRA, we are committed to working with industry partners, government agencies, and international bodies, particularly the media of which NITRA is our go-to-body, to ensure that our cyberspace is safe and resilient.

This includes advocating for robust policies, enhancing public awareness on cybersecurity best practices, and fostering a culture of trust and transparency.

Moreover, the issue of digital inclusion cannot be overstated. For Nigeria to truly harness the potential of ICT, we must bridge the digital divide that exists between urban and rural areas, between the young and the elderly, and between different socio-economic groups.

NiRA, through the .NG Academy, is actively involved in initiatives aimed at improving digital literacy and expanding internet access to underserved communities. We believe that everyone should have the opportunity to participate in the digital economy, and we are committed to making this a reality.

Collaborative Efforts for a Brighter Future

The theme of this conference— “Impact of AI On National Development: Prospects, Policies, and Challenges in Nigeria”—underscores the need for collaboration. Artificial Intelligence (AI) is rapidly transforming industries and economies across the globe, and Nigeria is no exception. As AI continues to evolve, its potential to drive economic growth, improve businesses and public services, and enhance the quality of life in Nigeria is immense. However, realizing these benefits requires careful consideration of the prospects, the formulation of sound policies, and addressing the accompanying challenges.

In other words, no single entity can address the complex challenges we face alone. It is through partnerships, shared knowledge, and collective action that we can drive the kind of growth that is inclusive, sustainable, and transformative.

To this end, I call on all stakeholders present today—industry leaders, policymakers, academia, and civil society—to join hands with NITRA, even as NiRA is committed to this cause, in building a robust digital ecosystem.

Let us work together to create policies that support innovation, to develop infrastructure that meets the demands of tomorrow, and to cultivate a workforce that is skilled and ready to lead in a digital world.

Finally, I would like to reiterate NiRA’s unwavering commitment to supporting the growth of Nigeria’s ICT sector. We believe in the power of the internet to transform lives, to create opportunities, and to drive our nation’s development. Let us seize this moment to shape the future of ICT in Nigeria—a future that is bright, secure, and inclusive.

Thank you, and I look forward to the fruitful discussions that will undoubtedly emerge from this conference.

• Being speech by Akinsanya, President, Nigeria Internet Registration Association at the NITRA ICT Growth Conference 4.0, held Wednesday, August 28, 2024 at the Citiheight Hotel, Ikeja, Lagos, south west, Nigeria.
• Akinsanya was represented by member, Executive Board of Directors, NiRA, Peter Oluka