Danbatta: Adoption of digital technologies has enabled diversity in revenue generation

Umar Danbatta, executive vice chairman, Nigerian Communications Commission (NCC), says the country’s adoption of digital technologies has enabled diversity in its economy and revenue generation.

Danbatta said this on Monday at the cyberchain conference in Abuja.

Speaking on the topic, ‘using technology to grow Nigeria’s GDP’, Dabatta said the digital industry had provided over 500,000 jobs in the public and private sectors and improved the lives of millions of Nigerians.

The NCC boss, represented by Ella Eli, principal manager, digital economy; said the country’s adoption of 5G, e-commerce, fintech and big data has boosted the country’s revenue generation capacity.

He added that telecommunications has contributed over $70 billion to the Nigerian economy.

“Nigeria’s adoption of digital technologies has enabled it to diversify its revenue and economy, created jobs, improved services and efficiency, reduced wastages, and optimised resources available,” the executive vice chairman said.

“Telecommunications has contributed over $70 billion to the Nigerian economy, provided over 500,000 jobs in the formal and informal sectors, and improved the lives of millions of Nigerians.

“Most Nigerians today cannot comprehend life without mobile phones.

“Presently, the liberalised telecommunications sector has brought with it, instant messaging, instant information, financial inclusion, telemedicine — the best is yet to come.

“The benefits of technology are endless and with technology becoming affordable, accessible, and available, these benefits will increase tremendously.”

Also speaking at the event, Jude Ozinegbe, convener, cyberchain, said Nigeria was currently moving in the right direction towards embracing the gains of the tech ecosystem.

Ozinegbe said with proper knowledge of blockchain, Nigerian youth can earn by using their cell phones and data.

He further called on stakeholders to also contribute to nation’s tech ecosystem in order to create awareness of its opportunities.

“We are moving from Analogue to digital, some people seem to have been left behind, that is why we have decided to gather leaders in the space to educate us,” Ozinegbe said.

“We have leaders in this space that have seen the possibility and opportunity in this ecosystem.

“This is my contribution to expanding the digital economy in Nigeria. As much as you can, contribute something positive about the space to amplify the good tidings within the ecosystem.”

On his part, Adedeji Owonibi, a crystocurrency investigator, A and D Forensic, urged the youth to embrace the gains of blockchain technology.

Owonibi said a better dimension had been added to blockchain and digital technologies in Nigeria with the participation of the government.

“If you are a criminal within the blockchain space, you could do anything in Nigeria, however, with our coming and government involvement, we all have a part to play in bringing sanity in the sector,” he said. 

“If you have any business in blockchain make sure you are compliant with rules and be crypto security conscious.”