Impact of Digital Economy on the Nigerian National Development – The Way Forward For ICT Inclined MDAs

Impact of Digital Economy on the Nigerian National Development – The Way Forward For ICT Inclined MDAs

Being a Lecture Delivered at the Strategic Training in Digital Economy-ICT, Cyber Security & Artificial Intelligence in MDAs Organised by the Centre for Economic Reform Initiative (CERI) from 19th – 21th, 2022.

1. Impact of Digital Economy on the Nigerian National Development – The Way Forward For ICT Inclined MDAs Being a Lecture Delivered at the Strategic Training in Digital Economy-ICT, Cyber Security & Artificial Intelligence in MDAs Organised by the Centre for Economic Reform Initiative (CERI) from 19th – 21th, 2022.

2. ND (Fin), HND (Acct.), BSc. (Acct. Ed), BSc (Acct. & Fin.), BSc. (Bus. Admin), MBA (Acct. & Fin.), MSc. (Acct.), MSc. (Bus & Econs ), MSc (Tax), MTP (SA), PhD (Acct), PhD (Fin), PhD (FA), FCA, FCTI, ACIB, ACS, ACIS, MNIM, FCNA, FCFIP, FCE, FERP, CICA, CFA, CFE, CIPFA, CPFA, ACAMS, ABR, CertIFR , IPA, IFA, FFAR, FPD-CR, FSEAN

3. Impact of Digital Economy on the Nigerian National Development – The Way Forward For ICT Inclined MDAs

4. Content

5. Introduction

6. Importance of the Digital Economy

7. Nigeria’s Digital Economy Journey

8. Key Ingredients for Successful Implementation of ICT

9. The Fundamental Roles of ICT

10. Ministries, Departments and Agencies (MDAs)

11. Factors Challenging the Growth of ICT in Nigeria

12. Sectorial Impacts of Digital Economy in Nigeria

13. Governance Sector

14. Education Sector

15. Legal Sector

16. Business Management Sector

17. Way Forward for ICT Inclined MDAs

18. The NDEPS 8 Pillars Developmental Regulation : It provides support for the effective regulation of the digital technology sector in a way that fosters development, rather than stifles it Digital Literacy and Skills : It recognizes the fact that human capital/citizens are the greatest assets in any economy, including the digital economy. It will support the development of a large pool of digitally literate and digitally skilled citizens Solid Infrastructure : It addresses the need to provide broadband access and data centers required to enable citizens to access the digital solutions that characterize the digital economy Service Infrastructure : It will address the provision of robust digital platforms to drive the digital economy. These platforms enable transactions and interactions online. They also have the added advantage of enabling a supply of data from which both government and the private sector can gain useful insights with which to develop the digital economy

19. The NDEPS 8 Pillars Digital Services Development and Promotion : It aims to drive the growth in the number of digital jobs and digital entrepreneurs in the country Soft Infrastructure : To ensure privacy and the safety of online transitions. While partnering with the Office of the National Security Adviser and other institutions to ensure that our cyberspace is more secure Digital Society and Emerging Technologies : It will ensure that the gains of the digital economy are mapped to indices of well-being in the lives of ordinary citizens. Some of these technologies include Internet of Things ( IoT ), Virtual Reality (VR), Artificial Intelligence (AI), Big Data Analytics etc. Indigenous Content development and Adoption: It gives support for Local Content Procurements by Ministries, Department and Agencies of the Federal Government of Nigeria” and the “Planning and Execution of Projects, Promotion of Nigerian Content in Contracts and Science, Engineering and Technology” to “grow what we eat and consume what we produce”. respectively.

20. Conclusion

21. Recommendations