The The Director General of the National Information Technology Development Agency, Kashifu Inua, has said that Nigeria’s economy could gain $53 billion through the digitization of micro, small and medium enterprises.
He said this while delivering the opening remarks at the TechMyBiz Pitch-A-Thon event in Lagos jointly sponsored by the European Union and the German Federal Ministry for Economic Cooperation and Development, according to a report by the agency on Friday.
As part of the report, Kashibu Inua, Director General of the National Information Technology Development Agency, said, “As SMEs make up a large percentage of businesses and economic growth, digitization of MSMEs will increase revenue by 26 percent. It should reduce operating costs by 22 percent and contribute $53 billion to the Nigerian economy.
The NITDA DG acknowledged that there are challenges in realizing the potential of digital transformation in SMEs.
He said, “Firstly, we need to create conditions conducive to innovation in our country in terms of implementation of policies and laws, government services, ease of doing business and so on.
“Secondly, we need support institutions – a platform to help digitize MSMEs for innovation hubs across the country, because innovation is the process of taking an idea from inception to impact, meaning you can have an idea and you can be innovative, but that is not enough, you need to commercialize your ideas.
„We need infrastructure, which is important for MSMEs, but Africa lacks digital public infrastructure. Digital public infrastructure goes beyond connectivity and access to computers.
The second industrial revolution was about mass production that required infrastructure for transportation, but today, in the current fourth industrial revolution about digital services, infrastructure is needed to support digital services.
He added, “Finally, the challenge of digital skills and literacy. Digital offerings require digitally literate consumers to benefit from services, so there is a need to raise awareness and educate people to acquire digital literacy skills.
„Oddany rozwiązywacz problemów. Przyjazny hipsterom praktykant bekonu. Miłośnik kawy. Nieuleczalny introwertyk. Student.