Experts seek investment in technology for inclusive growth

Experts from various fields have emphasised the urgent need to prioritise investments in technology across all sectors to achieve inclusive economic growth

Speaking at the Curating CHAOS 1.0 event, tagged ‘Unpacking the Next Decade’, the experts discussed the critical roles of technology, artificial intelligence, mental stability and energy security in shaping the country’s future.

The event focused on key themes including technology, geopolitics, human behaviour, entertainment and climate change.

The convener of Curating CHAOS, Daniel Oladoja, highlighted the necessity of integrating technology into all sectors, including manufacturing, trade, transportation and housing, to drive industrialisation and reduce Nigeria’s dependence on imports.

“We need to infuse technology into all these areas to have a holistic conversation about industrialization as a country, shift from overdependence on imports, and begin to rely on what we produce locally to achieve a balanced economy in the next 10 years. Technology is key to making that happen,” Oladoja explained.

Oladoja also identified Nigeria’s weak educational system as a significant barrier to technological advancement, stressing the need for reform to support a knowledge-based economy.

He called for a concerted effort from stakeholders to address these challenges, urging the government and private sector to invest in education and technology-driven initiatives.

Such efforts, he argued, are critical for Nigeria to unlock its potential and compete effectively on the global stage in the coming decade.

The Lead Consultant at QuantumCORE Consulting, Ezeogu Kayode, raised concerns over Nigeria’s position in the global technology hierarchy, describing the nation as being “at the lowest end of the ladder” regarding technology creation.

Kayode emphasised that while Nigeria shows progress in technology adoption within the African context, significant gaps persist in the nation’s ability to innovate and produce technology independently.

He highlighted the country’s over-reliance on technological consumption rather than innovation.

Kayode stressed the need for a paradigm shift to cultivate a critical mass of individuals who understand and embrace the transformative power of technology.

According to him, without this shift, Nigeria risks falling further behind on the global stage.

Meanwhile, Co-founder of Veriv Africa, Basil Abia, addressed the looming energy security crisis and the challenges posed by artisanal mining.