Technology innovation, which remains the bedrock of digital economies, have continued to enhance the way we live, work and play, Mr Tony Ojobo, Public Affairs Director at the Nigerian Communications Commission (NCC) has told the tech community.
According to the NCC image maker, tech innovation are powered by the science of growth, hence they stand the test of time.
Ojobo, who spoke at the General Meeting of the Nigeria Computer Society (NCS) Abuja branch at the weekend, told the audience that technology sets the pace for human civilization, boosts development and creates wealth for those who adopt it.
According to him, investments in technology and innovations is the reason why the top four most capitalized companies in the world, Microsoft, Apple, Google and Facebook, have maintained their top spots while closer home in Nigeria, telephony subscription peaked at 154.5 million by December 2016, while teledensity is now 110.38%.
Within the same period, Internet subscription has become 92 million as at December 2016, while Broadband penetration is 21% as estimated by ITU/UNESCO Broadband Commission.
According to him, investments in technology and innovations is the reason why the top four most capitalized companies in the world, Microsoft, Apple, Google and Facebook, have maintained their top spots while closer home in Nigeria, telephony subscription peaked at 154.5 million by December 2016, while teledensity is now 110.38%.
According to Ojobo, broadband target by 2018 as estimated in the National Broadband Plan of Nigeria is 30%. Africa has an Internet penetration of 28.7% of 3.7 billion global Internet users. Nigeria is at about 48% penetration and about 92 million Internet users. Facebook users stand at 16 million and Facebook is now worth over $348 billion. It overtook Exxon Mobil as the fourth most capitalised company in the world.
There has been a forecast that by 2020, 20.8 billion devices will be connected and collating data, Ojobo says noting that digital technology is promoting astonishing interaction among citizens and between citizens and the State.
“More political debates are enabled thereby boosting the expression of civil liberties. Politicians increasingly deploy social media to reach their constituents. Only recently the Lagos State Government launched a portal to enhance interaction between it and the citizens”, the NCC Director says.
“More political debates are enabled thereby boosting the expression of civil liberties. Politicians increasingly deploy social media to reach their constituents. Only recently the Lagos State Government launched a portal to enhance interaction between it and the citizens”, the NCC Director says.
On the application of digital technology to expansion of democracy, the Arab Spring, particularly the events at Tahrir Square in Egypt readily comes to bear.
He says that the Nigerian Elections of 2015 gave an insight to what technology can do. The Referendum in the UK to decide the country’s fate in the EU and the recently concluded American Presidential elections were all shaped by the use of social media networks enabled by the Internet.
Ojobo explained how digital economy and opportunities for business and economic growth come about. He says that the Internet has accounted for over 10% GDP over a period of 15 years in the G8 countries (China, Brazil, India, Sweden and South Korea) according to Mckinsey global institute.
He explains further that practically all brands Coca-Cola, Toyota, Cadbury, Exxon Mobil, Adidas, Amazon, Jumia, Konga retail stores are online. Human brands too are not left out including presidents, politicians, footballers, other sport icons, among others.
Jumia, Konga and others also conduct online sales in millions. Black Friday sales turnover in 2015 conducted by online stores in Nigeria was in excess N600 million. The availability of ATMs, POS and other online communication platforms have redefined modern life, he adds
Ojobo listed how the digital economy has aided the detection of ‘ghost workers’ in the civil service which had drained public funds for years.
He says that this was made possible by ICTs adding that because of ICTs, there is hardly any banking transaction that has taken place in Nigeria in the last 15 years that cannot be tracked.
“This enabled detection of illicit funds and transparency in the public sector. These have been a check at least on some people’s tendencies for graft and other financial crimes”, Ojobo says.
According to him, the introduction of technology in banking and e-commerce has put to a very large extent control over financial crimes just as “the introduction of the Bank Verification Number (BVN) has made banking a lot easier.”
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