Don’t over rely on oil as sole revenue source – NITDA DG

Dr Isa Ali Pantami, the Director-General, National Information Technology Development Agency (NITDA), has advised Nigerians not to over rely on the nation’s oil as the only revenue source.

Pantami gave the advice in a goodwill message at the Nigeria Export Summit Award with the theme: “Powering and Digitising the Economy”.

The NITDA director-general, at the summit organised by AFRITEX in Lagos, said that Nigerians should rather embrace Information Technology (IT) as the viable alternative.

It was also reported that AFRITEX is an organisation working with stakeholders in promoting a digital economy for Nigeria and Africa at large.

Pantami, represented by Mrs Chioma Oke-Aguguo, said relying on oil was no longer good enough, adding that IT was the new oil.

The director-general urged Nigerians to key into the digital world.

He said that technology would accelerate the economic growth of a nation more than the oil.

According to him, the global economy is not just an economy, but digital economy and that the biggest economy are those that advanced in technology.

”We need to utilise technology that will assist us in agriculture, education, banking, health, insurance, logistics to make use of efficient and flexibility that meets the demands of global economy.

“It must be noted that we have been building blocks for economic growth in ICT.

“The biggest economy in the world today are those advanced in technology, for example U.S and China.

“We also found out that internet penetration is the highest in those countries with one of the best infrastructure,” he said.

Pantami said that NITDA, as the foremost ICT agency in Nigeria, was committed to the course of digitalisation spearheading the move of efficient and effective infrastructure.

He highlighted the seven-point agenda pillar and how it had promoted digitalisation in public and government sectors and the economy at large.

Pantami also appreciated the organisers for making ICT a pillar to promote investment in export.

Earlier, Mr Oyesola Owuro, Chief Executive Officer, AFRITEX, also Convener of the summit, said that digitalisation was a key enabler for both local and international trade to find new markets and new customers.

Owuro said that to succeed in the export sector in Nigeria, it was necessary to innovate, strengthen and diversify the nation’s export base.

He urged exporters to key into ICT to grow their businesses.