Connect with us

General

Nigeria’s Digital Economy to Make Significant Contribution to GDP

Published

on

Nigeria's Digital Economy

Remarkably, the Nigerian digital economy holds immense potential for the overall growth of the economy. As projected by the Minister of State Budget and National Planning, Mr Clem Ikanade Agba, the digital economy would raise the country’s Gross Domestic Product (GDP) to 15 per cent by 2025.

While there are so many actors in the digital sphere contributing to making this a reality, the activities of B2B e-commerce companies like Alerzo cannot be overlooked. This group has led to revolutionising the operations of the retail sector across the country, particularly the underserved areas.

By connecting manufacturers and distributors to micro-businesses through digital technology, B2B e-commerce companies are making the FMCG supply chain operate more effectively, saving cost, and extending reach and safety.

Worthy of note also is the fact that the retail sector worth $100 billion in itself contributes 50% of the country’s GDP.

With the positive impacts that Alerzo and other e-commerce platforms are making along with other players in the digital sphere, the government and other stakeholders have woken up to the possible contribution of the digital economy to the development of the country. To propel the country towards attaining a vibrant digital economy, the Federal Government unveiled a roadmap in the form of a National Digital Economy Policy and Strategy (NDEPS) from 2020 to 2030.

Led by the Ministry of Communication and Digital Economy, government agencies such as National Information Technology Development Agency (NITDA), and the Nigerian Communication Commission (NCC) have keyed into this, formulating policy directions toward a vibrant digital economy for Nigeria.

However, there is a need for e-commerce platforms to be given more support so as to help this ecosystem of manufacturers, distributors, B2B e-commerce and micro businesses to run profitably and sustainably and consequently increase the contribution to GDP.

Click to comment

Leave a Reply

General

Group Hails Mbata on Emergence as Ohanaeze President

Published

on

John Azuta Mbata

By Bon Peters

More congratulatory messages have continued to pour in for Mr John Azuta Mbata on his emergence as the President of the Ohaneze Ndigbo.

Last week, the Rivers State-born man was elected as the successor to Mr Nze Ozichukwu Chukwu, who took charge of the organisation after the demise of Mr Emmanuel Iwuanyanwu last year at the age of 82.

In a statement, the Igbo World Assembly (IWA) said it was happy for Mr Mbata for emerging as the new leader of the prominent Igbo socio-cultural group.

In the statement jointly signed by its chairman, Mr Nwachukwu Anakwenze; the vice chairman, Mr Christian Onuorah; and the general secretary, Mr Oliver Nwankwor; the group commended Mr Chukwu and his team for weathering the storm within the 27 days to ensure the smooth democratic transition to the new executives.

“The election offers a renewed opportunity to address key challenges, and IWA is optimistic that this new leadership will apply statesmanship and diplomacy to achieve unity, peace, greater collaboration, due process, development and progress.

“The Igbo World Assembly has always been and will remain a core backbone of Ohanaeze Ndigbo and will support in Actualization of Igbo Agenda,” the statement said.

“Above all, your distinct desire to unify and restore Ndi Igbo towards the part of peace, progress and growth shall be the guide to our actions as Igbo Diasporas worldwide,” it added.

On the goals of the organization, the statement emphasised that IWA’s goal was clear, “Ndi-Igbo must speak with one voice and one accord; we must seek to do and be done equitably, by all means expedient or warranted; we must wage struggles as necessary; we must conclude peace as always necessary; we must establish and prosper our economies; we must promote our welfare; we must tell our stories; and we must celebrate our culture and history.”

On finding a lasting peace for the socio-cultural organization, IWA strongly pleaded with other notable persons in Rivers State to sheath their swords and bury their differences and stand behind Mr Mbata for Igbo unity.

Continue Reading

General

British Council Hosts Going Global Africa Conference in Abuja

Published

on

Going Global Africa Conference

The British Council, a UK-based organization dedicated to fostering cultural relations and educational opportunities, hosted the Going Global Africa Conference 2024.

The event, which took place from November 26 to 28 at the Transcorp Hilton Hotel in Abuja, was themed Building Sustainable and Relevant Tertiary Education Institutions and Systems in Africa.

It brought together policymakers, academics, industry leaders, and youth advocates to address critical issues in tertiary education across the continent.

At the opening session, which spotlighted youth aspirations and actionable strategies to bridge the gap between tertiary education and workforce demands, the Minister of Education, Mr Olatunji Alausa, unveiled the Nigerian Educational Sector Renewal initiative, a six-pillar agenda aimed at modernising the education system.

The session, titled The Future is Now: Realising the Vision of Africa’s Youth, was used by him to emphasised the importance of STEM and vocational training.

According to him, one of his takeaways from the opening plenary session is starting up student-led ventures, a good initiative the government would take on.

Throughout the three-day event, critical sessions explored the role of partnerships and innovation in strengthening tertiary education.

Another session titled Maximising Impact through Tertiary Education Partnerships, chaired by Prof. Sir Steve Smith, examined frameworks for sustainable education partnerships.

Also, at another session, Transitioning to the World of Work, led by Femi Taiwo, Founding Partner of F.I.T. Africa, delved into career-readiness strategies and the systems required to prepare graduates for industry demands.

Contributors such as Prof. Colin Riordan from the Association of Commonwealth Universities and Ms. Nadia Waggie from the University of Cape Town enriched these discussions with their expertise.

The conference also included a variety of focused sessions and panels, such as Learning Labs on technology integration, employability, and international research partnerships. Discussions highlighted access to education for marginalized groups, including women and persons with disabilities, with sessions such as Disability Inclusion in Tertiary Education led by Prof. Tracy Bhamra and featuring disability rights advocates.

Business Post reports that the conference coincided with the British Council’s 80th anniversary in Nigeria, celebrating decades of impactful partnerships in education.

“Hosting this conference in Sub-Saharan Africa underscores our commitment to fostering sustainable partnerships and innovation in education,” the Regional Director for Sub-Saharan Africa at the British Council, Lucy Pearson, remarked.

The event concluded with a renewed commitment to bridging the skills gap in Africa’s tertiary education.

The Acting Country Director for the council, Chilufya Besa, said, “By bringing together industry stakeholders, we have made significant progress in aligning education with workforce needs.”

Continue Reading

General

Thailand Gifts Nigeria 32-Tonne Rice Shipment to Tackle Food Crisis

Published

on

prices of rice in December

By Adedapo Adesanya

Nigeria has received a 32-tonne shipment of rice from Thailand as part of foreign relief to tackle escalating hunger and food insecurity.

The shipment, the first of its kind in a decade, has arrived in Lagos, according to DUCAT, the logistics company that facilitated its delivery.

The rice from Thailand was exported following Nigeria’s decision to implement a tariff moratorium on wheat, corn, rice, and other food crops last year, DUCAT revealed.

Although the duty waiver was introduced, purchases have largely been cautious, driven by concerns about its potentially harmful impact on local producers.

“Nigeria has been working hard to find solutions to broaden and strengthen its food supply accessibility,” DUCAT Chief Executive Officer, Mr Adrian Beciri said in a statement.

Several months ago, Nigeria unveiled a set of measures to combat soaring food inflation, which is rising at its fastest rate in three decades.

According to the last inflation update, food inflation reached 39.93 per cent year-on-year in November from 39.16 per cent the previous month in October 2024, caused by price rises for staples such as rice, maize, bread, potatoes and cooking oil.

Inflation quickened sharply in the second half of 2023 after President Bola Tinubu devalued the Naira and cut petrol and electricity subsidies to try to lift economic growth and shore up public finances.

Inflation has still not let up as it remained at 34 per cent as of November.

Many of the policies have failed to materialise including a 180-day window to allow duty-free imports of wheat, corn, and other critical food crops— a move promised would crash food prices.

A survey of market prices by Business Post indicates that food prices remained elevated during the last Christmas period.

Continue Reading

Trending