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Business leaders task Nigeria on industrial revolution


President, LCCI, Babatunde Ruwase

Business leaders are worried about the slow pace movement of Nigeria towards the fourth industrial revolution, otherwise known as Industry 4.0.

The leaders from the Lagos Chamber of Commerce and Industry (LCCI) noted that the fourth industrial revolution is here, “but can we say we are prepared,” they queried.

The President of LCCI, Babatunde Ruwase, noted that fourth industrial revolution is a topical issue Nigerians and Africans as a whole are not taking seriously, which may have far-reaching implications in the country and Africa in general.


Ruwase said Nigeria cannot afford to miss out in the opportunities the revolution comes with, having missed those of the first, second and third industrial revolution.

Therefore, to awaken the Nigerian spirit, Ruwase said LCCI’s yearly ICTEL EXPO and conference would focus on the issue.

According to him, “this year’s edition of the ICTEL EXPO will provide another great opportunity to influence national discourse on the culture of enterprise in Nigeria from an ICT positive perspective.

“We must celebrate our achievers! This EXPO will therefore provide the required inspiration which many small and medium enterprises (SMEs) need in their quest for improved performance.

“More importantly, the 2019 ICTEL EXPO is providing aspiring entrepreneurs, Tech start-ups and thousands of unemployed and under-employed Nigerians another unique opportunity for an enriching learning experience, capacity building, mentoring, connecting with investors and employers of labour and listening to life-changing accounts from different stakeholders.”

The expo holds between July 16 and 17 in Lagos, with the theme as ‘Fourth Industrial Revolution: Implications for the Nigerian Economy.’

The LCCI President urged governments at all levels to rise up to the challenges of increasing technological revolution if our dream for a truly great nation can be realized.


He added that the country could achieve the realities and implications of the fourth industrial revolution, if our government would articulate the results of the conference into a policy document.

Earlier, the Vice President and Chairman, Trade Promotion Board, LCCI, Gabriel Idahosa, decried the slow pace of technological advancement in Nigeria and Africa, noting that we are at the risk of being left behind by the fourth industrial revolution if these challenges are not addressed.

He stated that Nigeria with its teeming youth population should brace up and take its position as the most populous country in Africa, if we want to be part of the fourth industrial revolution.

“It is no news that the developed countries are investing heavily in the fourth industrial revolution.

“Africa, indeed, Nigeria is far behind. Industrial experts have submitted that of all the regions worldwide, Africa is at a great risk of being left far behind by the fourth industrial revolution.

“Nigeria, with its position in Africa and the population of its youths, needs to brace up.

“Technology is reshaping our world in an unimaginable manner. We have seen massive use of Robots, Bio-technology, Artificial intelligence and related technologies.


“Their impact on people, business, workplace and government is felt in all aspects of daily life.

“As business people, and in fact, a leading chamber of commerce in Sub Sahara Africa, our goal is to prepare stakeholders in the Nigerian economy for the emerging realities of the impact of the fourth industrial revolution.

“This is to enable us to follow the trend and really benefit from it. We must avoid being caught unawares when the consequences of not following the trend are already here with us”, Idahosa added.

Chairman, Specialized Exhibition Committee, Trade Promotion Board, LCCI, Lere Kupoluyi, said that fourth industrial revolution will change the way we do things and Nigeria should not pretend as if nothing is happening.

He noted that it’s high time we start playing significant role generally as a country and as business men and women in heralding this reality.

In her contribution, the Marketing/Conference Partner, and CEO, Compass Global Services Lt., Mrs. Tokunbo Chiedu, reiterated that previous industrial revolutions liberated humankind from animal power, made mass production possible and brought digital capabilities to billions of people.

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