Digital Economy Powerful Tool To Foster Economic Advancement – Kashifu

The Director General, National Information Technology Development Agency NIITDA, Mallam Kashifu Inuwa says the digital economy is a powerful tool that can drive economic change, ranging from Agriculture, Education, Health Care, and the Financial sector among others.

Mallam Kashifu, who made the call in Abuja, at the 3rd Annual Economic Confidential Lecture & the PRNigeria Book Presentation with the Theme: “Agenda For A Digital Global Economy” said the digital economy is all about using technology to empower all economic activities and cutting cost.

“Digital economy is all about using technology to empower all economic activities for efficiency as well as cutting cost, that means if we embrace technology we can drive national prosperity and inclusivity.”

“There’s a model developed in Artificial Intelligence (AI) and if used to automate 30% of our task today it could lead to economic growth of 20% per year that means our target for achieving a 1 trillion dollar economy is possible if AI is adopted, because that could help carry out 50% of our tasks”.

“Nations are aspiring to be leaders in AI, to rule the world so, as Nigerians do we just want to be passive participants or active shapers in the AI world, but i believe Nigeria can be active in the AI world because we lost in the 2nd and 3rd industrial revolution because we needed to have intensive capital investment to be part of it”.

“Because it’s not all about the direct productivity gain, if you automate 30 – 60% of your tasks with AI that means you have more time to do other things so as to come up with more innovations, inventions to improve efficiency.”

On his part, Special Adviser to the President on Economy in the office of the vice president Dr. Tope Fasuwa, represented by Aremu Olayinka Elijah reaffirmed president Bola Tinubu’s commitment to recaberating Nigeria’s economy, emphasizing that rebased economic data confirms measurable progress hence shifting from the traditional model to a tremendous equalizer in the new economy.

Also speaking, Chairman Nigeria Institute of Public Relations, NIPR Dr Ike Neliku represented by Dr Olajuwon Afolabi of the Budget office of the Federation, said in the present dispensation nations that failed to embrace the digital revolution are being left behind and those that take advantage break barriers to growth and development.

“Nigerians must embrace the new digital realities like other western world otherwise known as Artificial Intelligence (AI) in line with the Renewed Hope Agenda of President Tinubu’s led administration to harness
inventors and expertise of digital solutions. ”

“Collaboration among government, private, academia and the media is not optional but critical and essential. Unveiling of the three landmark publications reflect thoughtful attempts to capture pressing national global issues while offering practical insights for policy and practice.”

“Our tasks is clear. We must ensure that Nigeria’s participation in digital global economy is inclusive, innovative, and sustainable. Let’s commit to building capacity, infrastructure, and creating policies that enable innovations to thrive.

The Convener of the event and Chief Executive Officer, Nigeria Economic Confidential Mr Yusha’u Shuaib noted that the books are critical tools for evidence based policies and decisions hence commended NIITDA for their collaboration explaining that over 1,000 participants have been trained from various expertise across various sectors of the economy.

Highlight of the event was the unveiling of the three landmark publications: Renewed Hope in Central Banking” by Rahman Oladosa, Healing Nigeria: A Chronicle of Health Reforms” by Lawal Mamman and Maimuna Aliyu, Diplomacy and Digital Innovation: Youth Insight ” by Fatimah Usman and Umar Bala.

Garry Ochigbo, Edited By Grace Namiji