Digital economy ‘ll increase GDP from 14.19% to 21% by 2030 – Minister

The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, says Nigeria’s Gross Domestic Product (GDP) will increse from 14.19 per cent to 21 per cent by 2030.

Tijani said this at the National Digital Economy and E-Governance Bill stakeholders’ engagement on Thursday in Abuja.

Tijani was represented by the Permanent Secretary of the ministry, Mr Adeladan Rafiu.

He said that in Q1, Nigeria’s digital economy contributed seven trillion naira to real GDP, representing 14.19 per cent of the 49.34 trillion naira total GDP.

According to him, presently, the sector contributes 16 pwr cent to 18 per cent of GDP, with well-defined strategies to increase this to 21 per cent by 2030.

“These figures demonstrate both the current impact and the vast potential of a unified, digitally empowered economy driven by robust legislation,” he said

Speaking on the importance of the bill, the minister said that it sought to establish a robust legal and regulatory framework that would guide the implementation of digital governance in Nigeria.

“We can ensure that this bill provides the solid legal foundation required to drive digital identity, aid governance and overall decision-making for Nigeria,” Tijani said.

The Director-General, National Information Technology Development Agency (NITDA), Kachifu Abdullahi, said that the bill would accelerate digitisation of the Nigerian economy.

“Everybody is contributing to see how we can build a legal and institutional framework for our national digital economy.

“Government is doing a lot in digital literacy to educate our citizens to develop their digital fluency, so that everyone will be part of it and deepen the financial inclusion as well,” he said.

The National Commissioner of Nigerian Data Protection Commission (NDPC), Dr Vincent Olatunji, in his goodwill message, said that the digital economy sector was the most consistent in growth.

“I am not sure of any other sector where there is consistent progress in a particular sector and contributing highly to the growth of our economy,” he said.

Earlier, the Director-General of Galaxy BackBone (GBB), Prof. Ibrahim Adeyanju, said that digital economy could not be mentioned without a digital infrastructure and that is where GBB comes in.

“The government has invested a lot in terms of infrastructure, which are there to support the digital economy,” he said.