Bola Tinubu and his plans for Nigeria’s tech ecosystem
The article discusses the plans of Bola Tinubu, Nigeria's President-elect, for the country's technology sector. Tinubu released an 80-page manifesto in October 2022, which includes a section on the tech ecosystem titled "The Digital Economy: Taking Advantage of The Fourth Industrial Revolution." The manifesto focuses on seven areas such as service provision and outsourcing, manufacturing, e-commerce, and blockchain.
Tinubu's manifesto promises to create one million new jobs in the ICT sector within the first 24 months of his administration by deploying new technologies that can fast-track business growth and diversification. However, the article questions how this will be achieved, given that the question of infrastructure and who provides access to training is left unanswered.
The manifesto talks about implementing policies that will train and build capacity among Nigeria's large and youthful population, enabling them to offer outsourcing services just as India has done. But it does not address how it plans to partner with states to ensure that its policies are not just federal, but statewide.
The manifesto promises to develop the e-commerce sector by upgrading the transportation infrastructure in the country, which would benefit the industry. However, it does not include how it plans to tackle external factors that challenge the extensive adoption of e-commerce in Nigeria.
Tinubu's manifesto also promises to champion tech manufacturing, adding that the importation of smartphones, which costs the country millions of dollars, would be substituted with local assembly presented by the tech manufacturing sector. However, the implementation of its broadband availability plan, a promise brought forward from one of the outgoing administration's policies, could determine this.
The Tinubu manifesto promises to encourage the use of blockchain technology in finance and banking, identity management, revenue collection, and the use of crypto assets. As part of the reforms, Tinubu plans to establish an advisory committee to review the existing regulatory environment governing blockchain technology and virtual asset services and, where necessary, suggest changes to create a more efficient and business-friendly regulatory framework.
Overall, while Tinubu's plans for the tech ecosystem seem promising, the article notes that there is a lapse in understanding the space and how it can help improve the country's economy. The manifesto is light on the details of how it plans to fully embrace an inclusive digital economy, and the implementation, time, and scale of these plans could affect the eventual outcome.
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