Data is Critical to the Success of the Digital Economy Says Pantami at FUT Minna 29th Convocation Lecture

digital economy - cfamedia

Calls for effective utilisation of public, private data.

Says data utilisation holds great potential for economic prosperity, security.

The Honourable Minister for Communications and Digital Economy, Dr. Isa Ali Ibrahim (Pantami), delivered the 29th Convocation Lecture of the Federal University of Technology, Minna, Niger State.

Pantami’s presentation at the convocation lecture which held at the University’s main campus on Friday, January 31, 2020, was titled: “Datafication of Society: Economic and Security Issues in Producing and Using Public and Private Data in Nigeria.”

Dr. Pantami stated that as various data of citizens are being generated in the current digital economy being driven by the Information and Communication Technology (ICT), managing such data and making the economy data-driven holds great potential for the country’s economic prosperity and enhancement of security architecture.

“Datafication of objects or data transforms their purpose and turns the information into new forms of value”, stressed the Minister.

The Minister further explained that a digital economy has been widely accepted as the single most important driver of innovation, competitiveness and economic growth.

This explained why, the new mandate of the Ministry is the development of the economy, leveraging technology, in line with the Economic Recovery and Growth Plan (ERGP) of the Federal Government.

Pantami highlighted the eight pillars of the National Digital Economy Policy and Strategy (NDEPS) recently unveiled by President Muhammad Buhari to include;

  • developmental regulation
  • digital literacy and skills
  • solid infrastructure
  • service infrastructure
  • digital services development and promotion
  • soft infrastructure
  • digital society and emerging technologies
  • indigenous content promotion and adoption.

He contended that Nigeria is moving into an era where the wealth of the nation will be measured by digital resources and the innovation of Nigerians.

“So, the NDEPS has a very strong data theme and datafication is an important aspect of the implementation across all the eight pillars.

Data is critical to the success of the digital economy and scholars now refer to data as the new oil as data drives the digital economy and the digital economy drives the growth of the traditional economy,” the Minister said.

Pantami particularly explained that the 6th item of NDEPS – the soft infrastructure – will address the issue of data management in public and private sector organisation, address cybersecurity and safety issue while transacting online.

He said that digital society and emerging technologies support development of high-level skills that will enhance the aptitude of Nigerians to use public data and anonymised private data for social good, towards creating wealth from data.

The Minister further added that, “the academia and young innovative Nigerians such as those graduating have a key role to play in datafication to prosper the economy.”

The event was attended by many senior citizens, students, members of the academia and many development enthusiasts.

Among these are Prof. Adeolu Akande, Board Chairman-designate, Nigerian Communications Commission (NCC); Prof. Umar Danbatta, Executive Vice Chairman, NCC; Kashifu Abdullahi, Director-General, National Information Technology Development Agency (NITDA); Maimuna Abubakar, Board Chair, Nigerian Postal Service (NIPOST), members of NCC Board of Commissioners and many representatives of other agencies of government.

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L-R: Prof. Abdullahi Bala, Vice Chancellor, Federal University of Technology, Minna (FUTM), Niger State; Prof. Femi Odekunle, Pro-Chancellor/Chairman, FUTM Council; Dr. Isa Pantami, Hon. Minister of Communications and Digital Economy; and Prof. Umar Danbatta, Executive Vice Chairman, Nigerian Communications Commission (NCC) during the Convocation Lecture.

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