Nigeria’s digital economy sector generates 594% revenue – NGRP

By Abimbola Mohammed

The office of the presidency @NGRPresident has on twitter announced a detailed report of its footprint in Nigeria’s digital economy. According to the report, the nation’s digital economy sector generated a 594 percent revenue target above the 2019 baseline.

The report has detailed reports of strides the Buhari administration has attained in digital space in the last 3 months.

“I signed the Nigeria Startup Bill into law on the 19th of October 2022. @StartupActNg is a landmark legislation of this administration to transform the pool of highly talented youths we have in Nigeria into a pool of highly innovative digital entrepreneurs,” the report said.

“On October 19, 2022, President Muhammadu Buhari signed into law the Nigeria Startup Bill – a landmark Executive Bill to make Nigeria a global hub for digital talent and investment.

“Nigeria’s digital economy sector has generated 594 percent of revenue target above the 2019 baseline,” the report added.

According to the post, in Q2, 2022, ICT contribution to GDP almost tripled that of oil and gas.

“Nigeria’s 4G base stations have increased from 13,823 in August 2019 to 36,751 today, expanding 4G coverage across the country from 23% to 77.5%. Nigeria’s fiber optic cable network has grown from 15,000km in 2015 to more than 60,000km in 2022,” the post said.

It would be recalled that the National Digital Economy Policy and Strategy (NDEPS) for a Digital Nigeria was launched by President Muhammadu Buhari on November 28, 2019.

In 2022, Nigeria began the national rollout of 5G.

“The 5G spectrum auction has generated $547 million in license fees.

The National Centre for Artificial Intelligence and Robotics (NCAIR) was established in 2020 to promote R&D on emerging technologies like Al, Robotics, Drones, and loT.”

“As part of the National Digital Economy Policy and Strategy (NDEPS), President Buhari approved the 24th of October every year as the Digital Nigeria Day. Nigeria’s National Policy on Virtual Engagements for Federal Public Institutions launched on October 14, 2020, legally enabling Federal Government meetings to take place online Nigeria’s digital identity enrolments have increased from 39 million in October 2020 to more than 90 million as of December 2022,” it added.

Nigeria’s National Policy on NIN-SIM integration launched to enhance the integrity of the National Identification Number (NIN) database.

Also the Nigeria Data Protection Bureau was established on February 4, 2022, to provide an institutional framework for data protection in Nigeria.

The post further said: “Billions of dollars attracted in domestic and foreign investment, in Submarine Cable Systems, Fibre optic networks, Software Development Centers, Telco Expansion, etc.

“Nigeria is partnering with leading global ICT companies to provide Nigerians with high-demand digital skills; including the training of five million Nigerians by Microsoft Corporation.”


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