By Chinenye Anuforo
Tech experts that gathered at the TeXcellence Conference 2023 have stressed the need of digital innovation to the nation’s economic growth and development.
They unanimously agreed that digital innovation was key to any nation’s economic growth.
Speaking at the event, the Kashifu Inuwa Abdullahi, Director-General/CEO of the National Information Technology Development Agency, NITDA pointed out that digital technology has transformed lives and is shaping the competitive dynamics in various industries. He stated the future needs to be designed and created, adding that technology is only thing that can make it possible. “Technology is inspiring us to do more and better. Three capabilities of digital technology that are disrupting and inspiring businesses are ubiquitous data, unlimited connectivity, and massive processing power. These capabilities are lowering the barriers to entry and allowing new players to dominate traditional industries. Uber is an example of a company that disrupted the transportation industry without owning any cars”, he said.
He added that in order to promote innovation and entrepreneurship in Nigeria and Africa, governments need to invest in digital public infrastructure and create policies that attract capital. “Nigeria is currently receiving a small percentage of global investment in startups, and efforts should be made to increase this. It is important for investors to recognize the potential benefits of investing in innovation, as it can lead to economic growth and development.”
He also said trade in talent and technology should also be promoted, following the example of India, which has successfully exported its talent and built its own ecosystem. “Nigeria has the potential to become a global talent factory and a preferred outsourcing destination. By harnessing its population, infrastructure, and talent, Nigeria can solve its problems and thrive in the digital economy”, Inuwa said.
For the Group Chief Executive Officer, CWG, Adewale Adeyipo, he stated that there is need for a roadmap and strategic planning in driving transformation and innovation in the technology landscape in Nigeria. He highlighted the role of CWG as a pioneer in this field and the growth potential in the market. He also stressed the importance of collaboration between the private sector, start-ups, and government regulators, as well as the need for talent development and effective regulation. “Through dialogue, collaboration, and leveraging existing resources, Nigeria can achieve significant milestones in technological innovation”, Adeyipo emphasized.
On his own part, Afolabi Sobande Chief Operating Officer, CWG explained that technology is evolving and the speed at which it is moving is very fast stating that, there is need for the country to innovate. “We believe that if you don’t innovate, you die and that is why it is at the forefront of our discussion and we are creating the awareness for innovation, ensuring that we speak about it, so that, Fintechs, new organization within the tech space will understand the relevance of innovation as it is the hallmark for any technology.
“Innovation has kept us through. As technology changes, we also move with the times and we also change and provide our services. So, my message to African startup is to embrace innovation. Your innovation should be aimed at solving problem. That is what technology does, to solve problem. If every every organization embraces innovation, then Africa companies will be at the world stage”, Shobande said.