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Ministry Pledges to Use ICT to Boost Economy

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Barr. Abdur-Raheem Adebayo Shittu, minister of Communications, said his ministry is leveraging on Information Communication Technology (ICT) for rejuvenating Nigeria’s economy as well as encouraging massive online job creation through the implementation of various initiatives.

In a press statement by Victor Oluwadamilare, his Special Assistant on Media, the minister, in a keynote address he delivered at the opening ceremony of the Ife Youths Economic Summit (IYES 2017) at the ancient city of Ile-Ife said in this onerous task, 28,800 unemployed youths nominees across various states of the Federation were trained in online job (Micro-work and E-lancing).

The ministry, he also said has established incubation hubs in Lagos and Calabar, which are a private and public sector collaboration aimed at catalysing the ICT industry by helping Nigerian ICT entrepreneurs create successful businesses, support the interactions between innovations and their partners and developing indigenous skills and capabilities. He added that the target of this initiative is to create 25 successful ICT businesses by 2015.

Striving to make the ICT sector, the 4th pillar of the nation’s economy in terms of contributions to the Gross Domestic Product (GDP), he said the sector, which is the fastest growing and which has contributed 9.58 percent to the country’s GDP, trained 1000 Girls in ICT in collaboration with Huawei Technologies and have sent 20 best amongst the 1000 girls already in Nigeria to China in April this year for further training.

Barr. Shittu said in its efforts to fill the about 24 percent IT vacancies in the country, the ministry “plans to build technical and job-ready ICT skills to replace expatriate expertise with highly skilled Nigerians, increase the supply of local highly skilled talent to a fast growing sector and enhance ICT industry employment opportunities.

H e said, “ so far, Digital Bridge Institute and other tertiary institutions are concluding an agreement with IBM (Skills Development and Research Institutes) to train 25,000 resources in 5 years (2013-2018) per institute.

“Similarly, partnership agreement had been signed with Cisco to build Cisco Academy for highest certification (CCIE: Cisco Certified Internetworking Expert) in Nigeria and with Nokia on MLab Project. The implementation of the Nokia Life programme for farmers is also at an advanced stage.

“The modules to be covered in the one month following my opening addresses have been carefully chosen; software development which is at the foundation of ICT because you need to write the instruction for the computer in a language it will understand, the study of various electronics technologies which include computer hardware& software, operating systems, web-based information and applications, telephones and other telecommunication and multimedia products, e-commerce is the buying and selling of goods and services over the internet and web enabling technologies which are products that can be used through or in conjunction with the world wide web to surf the internet.”

Speaking at the Summit, Barr. Shittu said that youths are cardinal members of the internet ecosystem and that the ministry is strategically inclined to bringing up initiatives to cater for the interest of the nation’s youth population and working closely with various partners at national, regional and global levels to ensure massive youth employment while fast-tracking the rejuvenation of the national economy.

He said the theme of the summit, “ICT As a Formidable Tools For Nigeria’s Economic Rejuvenation and Massive Job Creation”, is apt at this time that the country is moving out of recession and all hands are on deck to ensure gradual economic growth.

According to the minister, ICTs are creating new job opportunities and making labour markets more innovative, inclusive, and global and that there is a shift from traditional labour intensive jobs to technology-enabled jobs, adding that the ICT sector has come to play a critical role in the sustainable growth and development of nations.


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Coronation Report Reveals Key Role of Private Sector to Nigeria’s Infrastructure Funding

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The maiden edition of Coronation group infrastructure report has revealed that the private sector has a critical role to play in infrastructure funding in Nigeria.

The report stated that the key to private-sector infrastructure investment is for dealmakers to structure transactions that offer attractive returns combined with an acceptable degree of risk, the risk often being eased by agreements supplied by infrastructure investment vehicles such a Infracorp.

The report said that the investor base can play its part, providing liquidity as part of its own efforts to create long-term returns with low relationship with public markets.

The report noted that Nigeria’s future infrastructure development depends on private capital, including capital allocated to Public Private Partnership (PPP) ventures, given the huge amounts of money required and the inability of government to provide it.

The report explained that the record of the federal government in capital expenditure over several decades highlighted the need for increasing private-sector investment, adding that public expenditure on transportation, education, hospitals, power, housing, and other essential infrastructure has not kept up with the needs of a population growing at a long-term rate.

The report said Public-private partnership differs from government capital expenditure in that it must pay for its capital, noting that it must attract private sector capital and therefore provide better returns than the risk-free returns of government debt.

According to the report, “Inflows of petro-dollars into government coffers did not translate into proportionately more being spent on capital expenditure, surely a missed opportunity. Still worse was to follow in the period 2011-2020 when the average level of public sector capital expenditure fell to 1.1 percent of Gross Domestic Product (GDP).”


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DLM Asset Management Set to Host Webinar to Discuss Financial Stability in Times of Economic Distress

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DLM Asset Management Limited, a subsidiary of DLM Capital Group, is hosting a webinar with the theme, “Maintaining financial stability in times of economic distress.” The much-awaited webinar, slated for Thursday, March 28, 2023, at 11 a.m., is going to cover the essential strategies to navigate through economic challenges and safeguarding one’s financial future.

Hosted by industry experts, the webinar will delve into the following key topics and teach attendees:

  • How to adopt a proactive, knowledgeable, and adaptable approach to risk assessment and mitigation.
  • How to thrive in this present economy and remain financially resilient.
  • Financial planning and discipline

During its interactive Q&A session, attendees will have the opportunity to ask questions and learn more about the subsidiary’s services from the hosts and speakers of the webinar. This includes the DLM fixed income fund, which Nairametrics identified as one of the top-performing Nigerian mutual funds in 2023.

This webinar is designed for investment savvy individuals Income earners, institutional and corporate investors, high net worth individuals, and the mass retail market.

Interested parties can register for the webinar by using this link, which is currently active. Seize the opportunity to gain experience on insightful things and get ready for a rewarding encounter.

 


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Firm Canvasses Affordable Technology to Drive Business Efficiency

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Information Communication Technology (ICT) service provider, Thamani Consulting, has stressed the need to make technology much affordable so as to make businesses seamless and efficient.

Olubunmi Abegunde, Managing Partner of the company, averred that making technology access affordable would enhance its penetration and increase uptake of digital technologies to drive employment growth of more than 22 million Africans joining the workforce each year.

He explained that the organisation remained committed to empowering businesses to thrive in Nigeria’s dynamic environment, hence churns out innovative solutions to address business problems across disciplines.

“Leveraging 20 years of combined market experience executing successful IT Projects with local and multinational organisations, we aim to capitalise on this to improve strategic utilisation of technology in Africa and support capacity building through access to requisite information technology,” he said.

He explained further that the African region more than others need increased usage of digital technologies to level-up globally, noting that polices to drive low-end technology access must be prioritised.

“This is why we do not compromise the balance of quality, standard professionalism and yet affordability in the choice of solutions we offer to clients which include: SAP training and Implementations, Software Asset Management, Plant Maintenance Process Automation and Automation for manufacturing Industries, amongst others.”


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