LIVE UPDATES
The Minister of Communications and Digital Economy, Dr. Bosun Tijani, has emphasized that the digital economy in Nigeria has the potential to revolutionize the nation's economy, with projections indicating a potential revenue of N18.3 billion by 2026.
Tijani made these remarks during a media engagement on the National Digital Economy and e-Governance Bill in Abuja.
Highlighting the strength of Nigeria's digital economy, Tijani pointed out the presence of unicorn companies such as Flutterwave, Jumia, Andela, and Interswitch, which have demonstrated the sector's capacity to elevate the country's economic status.
Tijani also discussed the significant contribution of the ICT sector to Nigeria's GDP, indicating that it contributes approximately 13 to 18% and recorded about 16.6% in Q4 2023.
He further emphasized that the digital economy generated N5.49 billion in revenue in 2019 and is projected to reach N18.3 billion by 2026.
In relation to the Digital Economy and e-Governance Bill, Tijani highlighted its importance in providing a legal framework and expediting progress in the digital economy agenda.
He emphasized that the bill would create an environment for fair competition, innovation, growth, and competitiveness for Nigeria's economy.
Furthermore, Tijani mentioned that the bill, once passed into law, will be implemented across all six geopolitical zones of the country.
Additionally, the Director-General of the National Information Technology Development Agency (NITDA), Malam Kashifu Inuwa, also spoke on the matter.
