Thursday, 28th March 2024
To guardian.ng
Search

Govt plans innovation-driven enterprises for digital economy

By Nkechi Onyedika-Ugoeze, Abuja
25 October 2022   |   3:29 am
The Federal Government has said that it is planning to create a pool of Innovation-Driven Enterprises (IDEs) to accelerate the development of digital economy. Minister of Communications and Digital Economy, Isa Ali Pantami, disclosed this at a media briefing on the third edition of the Digital Nigeria Day, yesterday, in Abuja. Pantami said that information…

The Federal Government has said that it is planning to create a pool of Innovation-Driven Enterprises (IDEs) to accelerate the development of digital economy.
Minister of Communications and Digital Economy, Isa Ali Pantami, disclosed this at a media briefing on the third edition of the Digital Nigeria Day, yesterday, in Abuja.

Pantami said that information and communication technologies had the potential to provide new solutions to development challenges, and can foster economic growth, competitiveness, access to information and knowledge, poverty eradication and social inclusion.”

He observed that the ICT sector had provided unprecedented contributions to the Gross Domestic Product (GDP) of the country in the last three years, namely 14.07 per cent in Q1 2020, 17.92 per cent in Q2 2021 and 18.44 per cent in Q2 2022.

The minister noted that the quarterly revenues generated for the Federal Government rose from N51.3 billion to N408.7 billion through spectrum sales and taxes from the sector.

According to him, the ICT sector grew by 14.70 per cent in Q4 2020, making it the fastest growing sector of the Nigerian economy in the last quarter of 2020 and the only sector to have grown by double digits and this played a critical role in enabling Nigeria to exit recession.

Pantami said that 99 per cent digitalising of government functions and processes had been achieved.

0 Comments