Nigeria has the potential to become a global leader in the digital economy; Vice President Yemi Osinbajo

By: Mark Jessy

Nigeria has the potential to become a global leader in the digital economy; Vice President Yemi Osinbajo

October 14, 2022 4:26 PM

Vice President Yemi Osinbajo of Nigeria has stated that his country is poised to become a global leader in the digital economy. This, however, will only occur if Nigeria takes the appropriate steps in developing its digital workforce.

 

Three Decades Later, Nigeria Is Better Prepared


Yemi Osinbajo, vice president of Nigeria, recently made the claim that Nigeria has sufficient human capital to become a global leader in the digital economy. Vice President Osinbajo cautioned, however, that the right approach and policies must be chosen by Nigeria for this to happen.

 

Abuja hosted the Nigeria Digital Economy Summit (NDES), and Osinbajo reportedly made the comments to the delegates there. In the same speech, the Nigerian leader outlined the many ways in which modern Nigeria excels over its counterpart of more than three decades ago, before the birth of the modern internet.

 

In contrast to Web 1 and 2, where we were at a disadvantage, a brand new world is opening up before our very eyes right now. We were unable to take advantage of the breadth and depth that mobile telecoms brought to digital innovation and financial inclusion in 1989 because we did not have mobile phones. We're set up to be major players in Web 3 now.

 

By having "6 unicorns [we have] and many more on the way," the vice president continued, Nigeria has "already shown" that it is capable of achieving this objective. In spite of this, Osinbajo maintains that Nigeria needs to "spend time on the development of digital skills."