By Wale Oguntokun culled from (CFTech)
The Digital PayExpo 2018 entered its second day on Wednesday with more presentations and exhibition of online payment products at the Eko Hotel, Victoria Island, Lagos.
Of note, s the presentation made by Tony Ojobo, Director, Public Affairs, Nigerian Communications Commission, NCC, titled “Drive Towards Digital Economy: The Journey So Far”.
In the presentation, Ojobo traced the genesis of the idea of a Digital Economy to the meeting of the G20 Group in Guangzhou, China, in September 2016, where far reaching policy decisions were taken to see to its effective take off. According to him, the priority areas of cooperation recommended by the group include areas of expanding the access to broadband and improving its quality, promoting investment in the ICT sector, supporting entrepreneurship and promoting digital transformation. Others include encouraging e-commerce cooperation, enhancing digital inclusion and promoting the growth of MSMEs.
Ojobo, in his presentation, stated that Nigeria joined the Digital Economy race with the licencing of Digital Mobile Service Providers in 2001, and since then, it have been making progress to see that it rubs off on a sizeable number of the populace, synergizing the areas of cooperation with all relevant stakeholders.
Te result of the efforts of the efforts of the synergy, he explained, has yielded some positive statistics such as the current over 10% contribution to the GDP by the ICT sector, investment of about $68 billion in the Telecom sector by the private sector, about 160.5 million phone subscribers as at April 2018, a Teledensty of about 114.66% as at April 2018 and Internet subscription of 102,209,503 s at April 2018. Other landmark achievement in the journey towards achieving the Digital Economy goal include, Nigeria’s Value-Added Market, valued at about $200 million and estimated to hit $500 million by the year 2020, Nigerians connected to Facebook as at 2018, standing at about 26 million, with about 25 million of that connecting through mobile devices and more than 35 million people around the world connected to Nigerian businesses on Facebook.
Ojobo stressed in his presentation that, with the 8-point agenda of the NCC, which is the regulatory body in the Telecom sector, tallying with those of the recommendations of the G20 Group on the achievement of Digital Economy, Nigeria is on the right path to achieving this very soon.
“Digital Economy is an inevitable phenomenon of the growth potentials of the dynamic ICT industry, to which economies and nations of the world cannot resist. The biggest economies of the world are pursuing it with more vigor and nations like Nigeria, with an internationally acclaimed Telecom Regulator, has not been left out in the pursuit”, he concluded.