LIVE UPDATES
President Bola Tinubu has announced that his government is investing in technology to promote transparency and accountability in government, as well as improve the performance and delivery of services to the Nigerian people.
He made this statement while meeting with Bill Gates, the Founder of Microsoft and a Philanthropist, during the World Economic Forum Special Meeting in Riyadh, Saudi Arabia.
President Tinubu emphasized the importance of technology in combating corruption and financial misconduct in public service. He expressed his strong commitment to implementing reliable technology to support a national consumer credit system and other essential government interventions for all Nigerians. He acknowledged that resistance is expected when efforts are made to strengthen systems and prevent wrongdoing.
The President stated that technology is a powerful tool against fraud, corruption, and irregularities and highlighted the initial resistance that may be encountered. He stressed that despite opposition from self-interested people, the nation will ultimately benefit from the efforts to combat malpractice.
President Tinubu also shared how he utilized technology to increase the revenue of Lagos State during his tenure as governor. He emphasized the importance of collecting and utilizing essential data to create an efficient tax system for the state.
He concluded by emphasizing the necessity of investing in technology and working diligently to achieve success, citing his experience of significantly increasing Lagos State's revenue through technology.
In his speech, Gates briefed the President on a unified technological platform to consolidate diverse data, emphasizing the importance of data synchronization for planning, security, and tax effectiveness.
"We are collaborating with Mr. Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, on digitalization. Before you took office, there were fragmented attempts at identity management. There were multiple identification systems in place.
"Now, there is a proposal to utilize the MOSIP technology for an identification platform to enable people to access digital benefits. We are assisting with this and can offer further support.
"The MOSIP ID has potential applications in all government payment programs, enhancing payment efficiency and facilitating bank accounts. Eventually, when everyone is using it, tax collection will become easier. This benefit will take some years to materialize. However, it will lead to more bank accounts, increased financial inclusion, and efficient government payment programs," stated the former CEO of Microsoft.
Gates expressed confidence in Nigeria's ability to oversee this system and other related technological systems due to the presence of talented youth in the country.
"When I visited the Microsoft office in Lagos last time, I witnessed the remarkable work they were doing and how their operations were expanding. Therefore, there is a wealth of Nigerian talent available to manage these systems," he remarked.
The entrepreneur also discussed high-yield seeds and various crops that have the potential to enhance productivity and nutrition across all regions of Nigeria.
He mentioned that countries like the United States and Brazil have successfully utilized these seeds, which have been tested and certified as safe.
"There are no safety concerns associated with these seeds. It is important and worthwhile to support the Minister of Agriculture's efforts in this area," Mr. Gates concluded.
