Shittu says ICT can sustain Nigeria’s economy

Adebayo Shittu, Minister of Communications, says Information and Communication Technology (ICT) could grow and sustain the Nigerian economy. He spoke in Ibadan at the Eminent Person Business Lecture organised by University of Ibadan School of Business (UISB).

Shittu delivered a lecture entitled: “Maximising the Potentials of the Telecommunications Industry for Reversing Recession and the Economic Growth of Nigeria.’’ The minister said that the diversification of the Nigerian economy would not be enough to take the country out of recession except the process was done by leveraging on ICT in an effective and efficient manner

“The country is presently in a recession, but it is not because we are in it that we are concerned. “We are concerned because each time there is a sharp drop in prices, we enter into a recession and we want to make sure that this cycle does not continue.

“And the only way we can do so is to diversify the economy by leveraging on ICT and moving the economy from being resource-based which it has been since independence,” he said.

Shittu stated that the role of ICT and telecommunications was very significant and critical in any society, particularly in Nigeria, which was striving to be a new nation by leveraging on ICT.

He said that the telecom sector alone contributed over 60 million dollars to the nation’s economy in the last 17 years of its existence. “Given its immense contribution to economic growth, we are working assiduously with the National Assembly to declare all telecom infrastructure across Nigeria ‘s critical National Assets,’’ he said.

The minister said that there was compelling need for policy intervention in the form of a digital service strategy. Shittu also said that the high cost of governance in comparison with digital service delivery, low level transparency, accountability and considerable resource leakages must not continue.

“The policy concept rests on a vision which envisaged the development of a sound digital infrastructure.