NITDA stressed the benefit of tapping into the technology sector.
The National Information Technology Development Agency (NITDA) said during a virtual panel discussion at the 16th ǼLEX Annual Lecture that Nigeria, with its large population, had abundant tech-centric resourceful human skills. The government agency recognizes that the nation stands to gain over $40 billion annually by tapping into the technology sector, given the availability of such a large pool of tech-centric capabilities. It was revealed by NITDA’s director general, Kashifu Inuwa Abdullahi, who claims that Nigeria can supply 2 million of the 4 million vacant programmer openings all across the globe.
According to him, the yearly compensation of a software developer or programmer might range anywhere from $30,000 to $150,000, as shown by a survey conducted by PwC. He also said that PwC has confirmed that Nigeria is capable of producing more than $40 billion annually if it could engage two million developers to work remotely at an average wage of $20,000 per year. This sizeable sum is estimated to be enough to alleviate the country’s forex exchange predicament.
Government should enact a legislative framework to help the underserved.
Even more so, Abdullahi argues, the digital economy is all about innovation and the technical expertise to fully realize its potential. Nigeria is thought to possess an ample supply of it, which would provide the country with a competitive edge in global markets. He explains that Nigeria may have a significant effect on the global digital economy despite the country’s low global ranking if the government works together to adopt legislation like the startup bill that was passed into law in a recent development
Consequently, he called for more collaboration between startups, Venture capital, entrepreneurs, and other significant players in the digital ecosystem with the goals of fostering more innovative ideas and increasing investment. Abdullahi made a similar plea to the government, urging them to create conditions that would allow the technological ecosystem to flourish. He argued that the government should make an effort to help underserved communities and neighborhoods by enacting a legislative framework, implementing rules and regulations, and building infrastructure.
The sector’s global expertise deficit is expected to reach $8.5 trillion.
Abdullahi also draws attention to a recent analysis by Korn Ferry that predicted a global expertise deficit of 85 million in the sector. According to his numbers, nations like Brazil and Japan, which will have about 18 million each, would be hit most by this scarcity. According to the NITDA director general, Nigeria can take advantage of the global deficit, which is expected to reach $8.5 trillion, by making the most of an abundant supply of human potential and a youthful population.
In light of this, it is crucial for Nigeria to make the most of its potential impacts to be competitive in the global market. Abdullahi spoke highly of NITDA’s contribution to the tech sector, citing the agency’s ongoing one million developers project, which aims to enable one million Nigerians to connect to the global value chain, as an example of its success. He cited the importance of AI, blockchain, robots, and data analytics to the future of the digital economy as the impetus for the inception of this training program.
It is crucial to establish institutions that generate human capital.
He concluded by saying that NITDA is drafting the National Digital Economy Bill to provide a constitutional basis for developing the digital economy. He also emphasized the need to establish a centralized agency to oversee the growth of human capital and coordinate technological advancements within the digital economy. Abdullahi said that it is crucial to establish institutions that generate human capital through digital literacy and capacity building and to examine legislative frameworks that enable digital transformation regularly.
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Technological skills acquisition is so important and needs to be tapped into properly inorder to gain full benefits and profits from it,the government needs to encourage our programme developers to put in more efforts to achieve more.
Technology is a sector at which the government can generate revenue from. If we continue to encourage technology and replace technology with the Normal way we do our work, it will be easier.
Nigeria could have a big impact on the global digital economy despite its low ranking in the world if the government collaborates to enact laws like the startup bill, which was recently enacted into law.
The launch of this training program was motivated by the significance of AI, blockchain, robots, and data analytics to the future of the digital economy. In order to compete in the global economy, Nigeria must maximize its potential effects.
Continuity on encouraging technology and replace technology with the normal way we do our work, it will make things easier because it’s another way of generating revenue.
gaining over $40 billion annually by tapping into the technology sector. This a very big amount of money. Government need to do more on technology skills acquisition for more benefit
Thanks to the people who believe in the world of technological skills. Nigeria need to wake up and utilize this opportunity to generate revenue for the country.
The government agency is aware that the country stands to benefit more than $40 billion on an annual basis by entering into partnerships with the technology sector.
Due to the obvious abundance of available tech-centric capabilities, the government agency understands that the country stands to make a substantial amount of money annually by leveraging the technology industry.
It is anticipated that this huge quantity will be sufficient to remedy the position that the country is in regarding its currency exchange.
It is believed that Nigeria possesses an abundant supply of it, which would provide the country a competitive advantage in the marketplaces of other countries.
We should continue encouraging technology because we can generate more income in it and develop things our government need to put more effort and do the necessary things needed
Given its large population and relatively young age distribution, Nigeria is well-positioned to take advantage of the anticipated large worldwide deficit.
Despite its low rating, Nigeria could impact the global digital economy if the government collaborates to pass rules like the startup bill.
It will be simpler if we maintain our commitment to technological advancement and make it an integral part of the way we normally carry out our duties.
In order for Nigeria to remain competitive on the international market, it is essential for the country to get the most out of the opportunities presented by its potential impacts.
It is of the utmost importance to create institutions that generate human capital through digital literacy and capacity building, as well as to conduct frequent reviews of legal frameworks that permit digital transformation.
Government have not been doing well harnessing the technology industry in recent time. Such industry with great potential should not be neglected. They need to empower youths with sharp skills and develop them more.
Everything in the world is going techy are can’t afford to be left behind. NITDA has given a good advise to the government only if they can utilize this opportunity in ICT they will be able to generate revenue for the country. It is high time we stop depending on crude alone. We need to diversify into other sector to be able to cater for the needs of the country.