Senate Spokesperson Says Nigeria Ripe to Operate Digitalised Economy

Kuni Tyessi in Abuja

The Spokesperson of the 9th Senate, Senator Surajudeen Basiru, has said the Nigerian economy is ripe enough to be digitalised.
Speaking at the signing of partnership between NeGSt-TAS Technologies Ltd, Nigeria’s eGovernment and digital technology service provider with Visa Incorporated, Basiru, said digitalising an economy would invariably lead to a worldwide network of economic activities, commercial transactions and professional interactions that are enabled by Information and Communication Technology, otherwise to be referred to as digital economy.

“Digitalising the economy involves the deployment of Information Communication Technology to commercial transactions taking place in a virtual world rather than the physical market place.

“It is a positive disruption from the traditional model of buying and selling of goods as well as provision of services. It is the mass adoption of connected digital services by consumers, enterprises and governments in such a way that accelerates growth and facilitates job creation.
“It will generate new job opportunities in Nigeria which will in turn improve the standard of living of the youths and reduce youth’s involvement in criminal activities,” he noted.

The purpose of the partnership was to adapt digital tools in the process of moving from analogue to digital technology with a view to reducing human intervention, while at the same time mainstreaming access opportunities, generating increased income, ensuring search ability, interaction, integration, preservation, transparency, accountability and sustainability of the national economy for the benefit of all.
The Executive Vice Chairman of NeGSt-TAS, Felix Babatunde Obada, in his remarks at the signing of the agreement, revealed that Visa has digitised some countries, and doing same in Nigeria was possible.

“VISA digitised the economy of America, they have successfully digitised economy of Europe, they are presently digitising the economy of Ukraine, they are also digitising the economy of the UAE. If you see things moving so smoothly in the UAE, it is VISA.

“Digitalisation is to create a digital tread that is stringed together all of these economies and make them talk to each other. It has been done elsewhere and it can be done here in Nigeria and the step towards making it possible is what we are here today”, he said.

This partnership is coming on the heels of the recent US-Africa Business Forum in Wahington DC at which Alfred F. Kelly, Chairman and Chief Executive of Visa.

Incorporated pledged to invest the sum of $1 billion over the next five years to digitalise African economies with a view to advancing resilient, innovative and inclusive economies across the continent that will enable greater access to digital literacy and payments as entry points for expanding formal financial services to individuals and merchants.