Nigeria can become world leader in digital economy Osinbajo

VICE President Yemi Osinbajo, has declared that Nigeria has the requisite talents, creativity and acumen to become a world leader in the digital economy.

Osinbajo stated this yesterday at this year’s Nigeria Digital Economy Summit, NDES, with the theme, “Web 3.0, Blockchain and DeFi: Impact on Africa’s Digital Economy”.

In a statement made available to Vanguard, the vice president highlighted the future of technology, digital economy and what it means globally, especially for Nigeria.

“We have already shown that we have the talent, creativity and acumen to build and grow major tech companies. At the last count, we have 6 unicorns and many more on the way. But we must spend time on the development of digital skills.”

“We must think through and develop appropriate policies and regulations that promote, rather than inhibit, innovation and commerce. We can be world leaders in the Web 3 revolution. The only limit is our vision,” he said.

The vice president noted that the technology platform deployed in the implementation of the microcredit schemes such as TraderMoni and MarketMoni was built by Eyowo, a local Nigerian tech company.

Speaking on digitization in the public sector, Osinbajo said: “Web 3 will also mean that the digitization of government’s services will come with more options, government agencies can then be smarter, faster and more efficient in delivering their services.”

He also noted the category of licences created and made available to some FinTech companies by the Central Bank of Nigeria, CBN, in the past few years as a significant example of how government policy can drive innovation and economic growth.