Connect with us

Wednesday 3rd March, 2021

ADVERTISEMENT

TechExtra

Pantami Delighted As NBS Report Shows ICT Is Nigeria’s Fastest Growing Sector

Published

on

Dr. Isa Ali Pantami, Nigeria's Minister of Communications & Digital Economy

The Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, has expressed his delight with the latest report that the Information and Communications Technology (ICT) sector recorded the highest growth rate of all the sectors of the Nigerian economy in both the fourth quarter of 2020 (Q4 2020) and the entire year 2020. 

This cheering news was based on the Q4 2020 Report on Nigeria’s Gross Domestic Product (GDP) released yesterday, the 18th of February 2021, by the National Bureau of Statistics (NBS).

“Nigeria’s Gross Domestic Product (GDP) grew by 0.11% (year-on-year) in real terms in the fourth quarter of 2020, representing the first positive quarterly growth in the last three quarters,” the NBS said in the report.

But in a press release signed by Dr Femi Adeluyi, Technical Assistant (Information Technology) to the Minister of Communications and Digital Economy, the Minister was quoted as saying that “this indicates that we have strongly exited recession. In real terms, the non-oil sector contributed 94.13% to the nation’s GDP in Q4 2020 as opposed to the 5.87% contributed to total real GDP by the oil sector.”

Adeluyi said in the statement that it is noteworthy that the ICT sector grew by 14.70% in Q4 2020, making it the fastest-growing sector of the Nigerian economy in the last quarter and the only sector to have grown by double digits.

“The ICT sector grew at a rate more than 4 times the Agriculture sector, which was the next fastest-growing sector of Q4 2020, with a growth rate of 3.42%.

“The ICT sector also maintained its rapid growth rate in the overall year 2020 assessment, growing at 12.90%, or over 3 times the Water Supply, Sewerage, Waste Management and Remediation sector, which was next fastest-growing sector of 2020 with a growth rate of 3.81%.

“Again, the ICT sector was the only sector with a double-digit growth rate.

“Furthermore, the telecommunications sector recorded a growth rate of 15.90% and this was its highest growth rate in the last 10 years. This performance is unprecedented,” Adeluyi said in the statement.

Meanwhile, Pantami noted that the giant strides recorded in the ICT sector are a direct result of the focused and committed effort of the administration of President Muhammadu Buhari, stating that the strategic policy directions of the Federal Government include the National Digital Economy Policy for a Digital Nigeria and the Nigerian National Broadband Plan, amongst others.

“The GDP Report has shown that the ICT sector is a catalyst for the diversification and growth of our economy,” the minister said.

He called on all sectors to take advantage of the Federal Government’s new focus on the digital economy to enable and improve their processes through the use of ICTs.

The minister also congratulated all stakeholders of the ICT sector and called on them to continue supporting the policies of the Federal Government as this would enhance the output of all the sectors of the economy and boost Nigeria’s GDP.

Share Post

Fintech

Facebook And Google Eye Indian Digital Payment Network

Published

on

Facebook and Google are teaming up with Indian firms, Infibeam and Reliance Industries on an application to set up a national digital payment network in the South Asian country, according to the Economic Times.

The Reserve Bank of India has invited companies to create new umbrella entities (NUEs) that build payments networks that offer an alternative to the bank-owned not-for-profit National Payments Council of India.

Citing sources, the Economic Times says that Google, Facebook, conglomerate Reliance and fintech firm Infibeam are at an advanced stage in submitting their plan to the central bank.

Google and Facebook (through WhatsApp) are already significant players in the fast-growing Indian digital payments market.

Another American giant, Amazon, is rumoured to have teamed up with ICICI Bank to explore its own NUE play. The Reserve Bank is expected to award two licences.

 

Share Post
Continue Reading

TechExtra

Technology Boost: Presidency Directs FIRS To Remit NASENI Statutory Cash

Published

on

The Presidency has directed the Federal Inland Revenue Service, FIRS, to remit the statutory deductions accruable to the National Agency for Science and Engineering Infrastructure, NASENI.

The directive is part of the steps to boost Science and Technology development in the country.

The agency may soon get one to two per cent of the Federation Account as contained in its establishment law.

The directive followed the upholding of the decision of the Governing Board of NASENI, which is headed by President Muhammadu Buhari.

DigitalTimesNG understands that the directive has also been communicated to the Minister of Finance, Budget and National Planning, Mrs.

In the NASENI Establishment Act 2004, FIRS is statutorily expected to deduct and remit to it a quarter per cent of the levy on turnover of firms earning over N100million and above.

Although NASENI was established in 1992, the law guiding its funding has not been complied with by successive governments.

But in January, President Muhammadu Buhari decided to ensure total compliance with NASENI Act.

Buhari has also approved the placement of NASENI directly under the supervision of the Presidency instead of the Ministry of Science and Technology.

But in a letter signed by the Chief of Staff to President Buhari, Prof. Ibrahim Gambari, the FIRS has been directed to remit the deducted levy on turnover as approved by the President.

“I write to inform you that on 24th January 2021, Mr. President approved the prayers of the Executive Vice Chairman (EVC) of the National Agency for Science and Engineering Infrastructure (NASENI) on the funding of NASENI activities.

“In accordance with the NASENI Establishment Act, one of the prayers of the EVC relates to the funding of the agency via a levy on income or turnover of commercial companies and firms with a turnover of N4million (later increased to N100million) by the NASENI Governing Board) at the rate of a quarter per cent( 1/4 %) of turnover.

“Accordingly, you are kindly requested to act on the implementation of this provision of the NASENI Act as soon as possible,” the letter read.

The presidential directive was said to be informed by seven key projects (inventions) being under-taking by NASENI with funding as a major hindrance. One of the key projects is a Made-In-Nigeria helicopter which Buhari has mandated NASENI to produce.

Others are the establishment of First Made-In- Nigeria Transformer Plant and High Voltage Testing Laboratory to be located in Okene, Kogi State; first Made-In-Nigeria Plant for the manufacturing of Silica which is the major materials needed for local manufacturing of solar panels to resolve alternative/Renewable Energy supply for the nation; and funding of the plant for First Made-In-Nigeria Smart Prepaid Energy Meter, SPEM, which is already patented, before transferring them to private sector entrepreneurs as stipulated by its mandate.

Also included are the establishment of Zonal (Six geo-political Zones) Agricultural Machinery & Equipment Development Institutes which had already been approved by President Muhammadu Buhari; completion of work on First Made-in-Nigeria E-Voting solutions designed and produced by Nigerian Engineers in NASENI; and completion of work on Reverse Engineering process of 5 Kilowatt small Hydro Kinetic Turbine.

 

Share Post
Continue Reading

TechExtra

NCC Partners eBusinessLife On Girls In ICT Campaign 2021

Published

on

A cross section of school girls participating in one of the past editions of the Girls in ICT Day celebration organised by eBusinessLife

The Nigerian Communications Commission (NCC) has thrown its weight behind eBusiness Life Communication Limited in the campaign to sensitize young girls on the imperatives of pursuing ICT-related careers.

In this vein, the NCC will partner with the media organisation in its upcoming event, eBusinesslife International Girls in ICT Day Celebration, scheduled for April 22, 2021, at the Oriental Hotel in Lagos.

The organisers said in a statement that the NCC noted its willingness to partner with eBusinesslife to ensure that the gender disparity in ICT-related careers is addressed to motivate young girls to contribute their quota in the industry.

DigitalTimesNG understands that the International Girls’ in ICT Day Celebration is an initiative launched through the International Telecommunications Commission (ITU) Resolution 70 with the idea of creating a global environment that will empower and encourage girls and young women to consider careers in the field of information and communication technologies (ICTs).

In the past nine years, eBusiness Life had organised the event annually in Nigeria, gathering young girls from different schools, to educate and sensitize them on the opportunities inherent in professions in ICT, and providing a platform for organisations to synergise on complementary ways to further the cause.

Also, the girls had been made to go through hands-on training on various aspects of ICT and gone on facility visits to ICT companies to get the first-hand experience of the intricacies of these ICT firms. However, the 2020 edition was botched by the COVID-19 pandemic.

Chief Executive Officer of eBusiness Life Communication and convener of the event, Mrs Ufuoma Emuophedaro, while speaking on the partnership, said the need to sensitise young girls is premised on the fact that the society has unconsciously relegated the female gender and delegated careers in technical fields, especially in ICT, to their male counterparts, and that the support from NCC will further lend credence to the campaign.

She called on corporate bodies and the society at large to recommit to supporting every girl to develop her skills, enter the workforce on equal terms and reach her full potential.

“We need to equip the girls with transferable and lifelong skills such as critical thinking, creativity and digital awareness. Having role models will also be critical, especially in the sciences and other fields where the presence of women is sparse.”

She further noted that efforts should be made to introduce young girls to career opportunities in technical fields in both the public and private sectors to help them have a wide range of options and contribute their quota in the industry.

Emuophedaro stated that pursuant to the International Girls in ICT Day celebration and the subsequent campaign will further open up opportunities for girls in the ICT sector.

Speaking further, she noted that supporting the global Girls in ICT movement empowers girls and young women, giving them the confidence to pursue ICT studies and careers. “Girls and young women have the potential not only to become ICT users but also to become ICT creators. “

As part of this year’s edition of the event, students from select secondary schools will receive practical training on an aspect of ICT and compete on the same on the D-Day. Also a roundtable discussion, interactive and motivational talk from renowned women ICT professionals, will be part of the events lined up for the day.

The campaign, which continues after the D-Day, will see young girls take part in facility tours to ICT facilities; participate in seminars that promote ICT development and undergo training in ICT.

At the end of the event, it is expected that young girls and students should be able to introspect and pursue any desired career path in ICT without bias, or gender consciousness.

Awards will also be given to deserving female ICT practitioners and institutions as part of the celebration while severe COVID-19 safety protocols will be observed at the venue.

e-Business Life Magazine is a monthly Information and Communications Technology (ICT) Magazine incorporated to bring better information that would link users and service providers as well as enable Nigeria to take its pride of place among the comity of nations in the new global economy.

“The mission at e-Business Life Magazine is to inform and educate ICT users on trends and developments both locally and internationally; to provide a platform on which to build ICTs in Nigeria and also to be a voice for ICT consumers in the country.

“In addition, we are poised to create a world where Nigerian youths have a better understanding of modern technologies and can easily deploy these technologies in developing their communities,” the organisers said in the statement.

Share Post
Continue Reading
Telecoms4 hours ago

BREAKING: FG Approves Establishment Of SIM Swap Centres By MNOs, Extends Enrolment Licence Tenure

Fintech4 hours ago

Facebook And Google Eye Indian Digital Payment Network

BROADCASTING4 hours ago

MultiChoice Talent Factory Kicks Off The Year With Acting For Camera Virtual Masterclass

Business5 hours ago

Nnamdi Azikiwe Int’l Airport Abuja Named Best Airport In Africa By ACI

Business5 hours ago

BREAKING: Crowdyvest Exits EMFATO Holdings, Raises New Investment

Business2 days ago

Nigeria DigitalSENSE Forum 2021 Gets June Date

TechExtra2 days ago

Technology Boost: Presidency Directs FIRS To Remit NASENI Statutory Cash

BROADCASTING2 days ago

Nigeria’s Digital Switchover: Fresh Missteps Loom

Telecoms5 days ago

Minister, Stakeholders At Senate Public Hearing, Affirm Health Safety Of 5G

BROADCASTING5 days ago

Manchester United Partners StarTimes To Offer MUTV In Africa

Business5 days ago

Panelists Seek Digital Scale-Up In Africa To Unlock Untapped Creative Economies

TechExtra5 days ago

NCC Partners eBusinessLife On Girls In ICT Campaign 2021

Telecoms5 days ago

ATCON Hails Publication Of Book On Nigerian Telecoms Law & Regulation

Telecoms5 days ago

Danbatta, Other Eminent Nigerians Endorse Book On Telecoms Law, Regulations

BANKING6 days ago

Titan Trust Bank, IFC Partner To Train Over 200 Entrepreneurs On Digital Marketing

Telecoms6 days ago

9mobile Affirms Support For Lagos’ Smart City Initiative @Ehingbeti 2021

Business6 days ago

Court Vindicates Zinox, TD Africa In Alleged N170m FIRS Contract Fraud

Telecoms6 days ago

Group Urges Pantami To Review Suspension Of SIM Card Activation

BROADCASTING1 week ago

Spotify, World’s Most Popular Audio Streaming Subscription Service Launches In Nigeria

Business1 week ago

Sophos Provides Qualcomm Snapdragon Compute Platforms With Intercept X-Powered 5G PC Cybersecurity

BROADCASTING10 months ago

ENTERTAINMENT: ‘Turn Up Friday With Pepsi’ Premieres On Africa Magic Channels

Telecoms8 months ago

(APPLY): NCC Invites Proposals For Telecoms-Based Research Innovation 2020

BIG STORY7 months ago

One Year As NITDA’s DG: How Kashifu Abdullahi Is Transforming Nigeria’s IT Landscape (Part 1)

Business8 months ago

Samsung May Not Include Chargers With Some Phones Starting 2021

BROADCASTING7 months ago

MultiChoice Now Offers Auto-Renewal On Subscriptions To DStv & GOtv Customers

BROADCASTING8 months ago

StarTimes Announces Subscription Price Increase, Addition Of New Channels

Innovation10 months ago

NITDA Pledges Full Support To Nigeria’s Tech Community For Innovation Against COVID-19

Business8 months ago

BREAKING: Crowdyvest Holdings Changes Name To EMFATO Holdings

BROADCASTING10 months ago

Group Rejects MultiChoice Proposed Tariff Hike In DStv, GOtv Services

BROADBAND8 months ago

Maska, NCC’s Executive Commissioner Chairs Ministerial Broadband Implementation Steering Committee

Opinion7 months ago

One Year At NITDA: Kashifu As A Vindication Of Youth Excellence In Governance

BROADCASTING7 months ago

MultiChoice Adds ESPN To Dstv And Gotv Sports Offering

BROADCASTING9 months ago

MultiChoice Begins Broadcast Of uLesson Educational Content On DStv, GOtv

Business10 months ago

After Okada Ban, Opay Confirms Shift To Delivery, Puts Motorcycles Up For Sale

BROADCASTING7 months ago

Watch The English FA Cup Final Live On GOtv Max As Arsenal And Chelsea Trade Tackles

Business10 months ago

Konga Inks Partnership With Unilever, Offers Household Products With Free Delivery Nationwide

BROADCASTING9 months ago

MultiChoice To Add Netflix And Amazon Prime Video To Its Stable

Business8 months ago

Valentine Chime Appointed Vodacom Business Nigeria MD

BIG STORY7 months ago

One Year As NITDA’s DG: How Kashifu Abdullahi Is Transforming Nigeria’s IT Landscape (Part 2)

Innovation6 months ago

Ericsson, UNICEF Launch Global Partnership To Map School Internet Connectivity

Advertisement

Trending