He told industry leaders and Information and Communication Technology (ICT) innovators, who gathered at the 2023 edition of the Information, Communication, Technology and Telecommunications (ICTELExpo2023) organised by the Lagos Chamber of Commerce and Industry (LCCI) in Lagos, that advancements made in the global ICT industry have become business and enhancing.

Danbatta, who was represented by Mr. Alkasim Umar, the Director of Consumer Affairs Bureau at the Commission, said technology has always played a significant role in shaping the world people live in.

He, however, said that in recent years, advancements have accelerated at an unprecedented rate.

The NCC helmsman said as the world grapples with the 4th Industrial Revolution driven by the Internet, advancements in many facets of ICTs, are fundamentally changing all aspects of people’s lives and reshaping economic, social and cultural paradigms across the world.

He listed such disruptive technologies to include Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Blockchain Technology, Virtual Reality (VR), Augmented Reality (AR), Fifth Generation (5G) and other emerging technologies which have demonstrated the potential of transforming industries and business models.

“Today, we find ourselves amid a digital revolution, where the boundaries between physical and virtual worlds are blurring.  So, as we navigate the era of tech disruptions, it is crucial for businesses to embrace innovation and adapt to the changing landscape. Companies that are agile and willing to experiment with these emerging technologies will gain a competitive advantage in their respective industries,” Danbatta said.

The NCC CEO further assured that the NCC’s strategic management plan represents the Commission’s commitment to leveraging technology and innovation to transform industries and drive positive change. “By embracing tech disruption, we are empowering individuals, businesses, and communities to thrive in the digital age. Together, let us build a Nigeria where technology is a catalyst for inclusive growth, innovation flourishes, and the benefits of connectivity reach every Nigerian,” the EVC said.

Dr. Michael Olawale-Cole, President of LCCI, who appreciated the Commission’s efforts in providing a predictable telecom regulatory environment, noted that the theme of this year’s edition of the ICTEL Expo had been carefully chosen considering the far-reaching impact disruptive technologies are having on businesses around the world.

Engr. Yomi Arowosafe, NCC’s Zonal Controller, Lagos, who was part of the team to the well-attended ICTExpo2023, received an LCCI Appreciation Award presented to Prof. Danbatta, by the Vice President of LCCI, Leye Kupoluyi, in recognition of Danbatta’s contribution towards the success of the ICTELExpo2023 held on July 25 – 26, 2023 at Landmark Event Centre, Victoria Island, Lagos. 

Kashifu Inuwa CCIE, Director General, National Information Technology Development Agency (NITDA), handed down this advice today in Lagos where he delivered a keynote speech at the 19th edition of ICTEL Expo organised by the Lagos Chamber of Commerce and Industry with the theme “Tech Disruption: Transforming Industries with Innovation”.

He said, the combination of ubiquitous data, unlimited connectivity and the massive processing power could give tech innovators the leverage to disrupt anything they can think of.

While making the distinction between innovation and invention, the NITDA’s boss explained that innovation is a process from ideation to impact but invention is all about research that which may not necessarily being commercialised.

He said, “You spend money for research. You spend money to come up with new things while innovation makes money. So innovation is invention and commercialisation.”

“As startups, you need to be able to pitch your product for a new company; for people to use it to solve problems. That’s why we have you, the startups; we have you with ideas. You need to come and disrupt. You need to use technology as a source of inspiration to disrupt businesses,” he reiterated.

While citing the success story of the Flutterwave, a FinTech company that now has a bigger capital base than some commercial banks; Inuwa maintained that the company saw a big gap and decided to fill with using technological solutions that connect business-to-business transactions.

“So, you too can see the power of technology; is not happening only in the developed western countries. Even in Nigeria, you can start your business, use technology to grow it.”

He stated that, “so looking at all these and how you can transform it, what we normally encourage startup to do is focus about the solution. It is not about the money. If you have solutions, the money will come. So don’t focus about the money. Don’t follow the money. Follow the solutions. The money will follow you. So, look at what kind of problem you want to solve.”

While encouraging them to think big as they think about the solution they want to provide, the Director General affirmed that with the mindset they have to solve local problem, it can be expanded to solve a global issues.

“That is the difference between just normal Small and Medium Enterprises and you. We call you startups because you use the power of technology to build your business and become Innovation-Driven Enterprises, (IDEs). This implies that you start small; how can you solve a local problem but with the mindset of taking it to the global stage. Technology can help you to do that. You don’t need to have a physical space to do that.

Inuwa disclosed that the startups could leverage on the several initiatives of the government to attain greater height in their exploits.

“We have so many initiatives that can help you to achieve that. When the government formulated the National Digital Economy Policy and Strategy, (NDEPS) at NITDA, we crafted our Strategic Roadmap Action Plan, (SRAP) with seven strategic pillars that could spur technological innovation development in Nigeria.

He advised the participants to get ready for future of work as there is going to be talent deficits because of the aging population the western world is witnessing which Nigeria can fill because of the abundant talent and youthful population the country is blessed with, adding that “we have abundant talent; it’s just for us to harness that talent.“

According to Inuwa, the Federal Government through NITDA is embarking on several initiatives to bridge the skill gap in the country noting that the government has conducted a skill gap analysis to determine the kind of competencies required to build the country. It is also working on the Digital Literacy Framework which would soon be signed, and Talent Hunt Strategy.    

The ICTELExpo2023 was attended by the Permanent Secretary, Federal Ministry of Communications and Digital Economy, Dr Williams Allo, The Managing Director, Galaxy Backbone, Prof. Muhammed Abubakar, some members of the National Communications Commission management board and the executive of the Lagos Chamber of Commerce and Industry, (LCCI),    

Asiwaju (Dr) Michael Olawale-Cole, President of the Lagos Chamber of Commerce and Industry (LCCI), made the remark today while declaring open this year’s ICTEL Conference and Exhibition (ICTELEXPO2023) organized by the trade promotion board of the Chamber in Lagos.

Dr Olawale-Cole said that governments and organizations must leverage technology for innovation, competitiveness, and resilience in the face of risks and uncertainties.

The 2023 ICTEL conference & expo with the theme “Tech Disrupt: Transforming Industries with Innovation” creates a platform for key players and stakeholders in the Nigerian information, communication & telecommunications industry to share perspectives on emerging issues and trends in the digital economy.

The theme, the LCCI’s President said, suggests that this year, the ICTELExpo2023 will not end at the close of the event, but will activate a learning journey of the technologies disrupting business, academia, and even lifestyles.

“We are determined this year to follow the theme through and ensure follow-up initiatives that would make the resolutions and learning from our robust interaction at this event a working manual for relevant stakeholders.

“With technology having more relevance in the business world, the sector is fast becoming the fastest-growing sector in the non-oil sector of the Nigerian economy. Information and communication technology (ICT) has continued to disrupt the practice of agriculture, healthcare, learning, and manufacturing.

The Impact of ICT on Nigeria’s economy

Continuing, Dr Olawale-Cole, said:

“We are presently experiencing innovative solutions driven by artificial intelligence (ai), automation, robotics, and wearable technologies. Recent data from the national bureau of statistics (NBS) revealed that the tech sector in the first quarter of 2023 recorded a growth rate of 10.32% in real terms, year-on-year, and contributed 17.47% to the real gross domestic product (GDP) in the first quarter of 2023, higher than in the same quarter of the previous year in which it represented 16.20% and higher than the preceding quarter in which it represented 16.22%”.

He added that the digital economy is evolving and impacting more areas of life and business because of its multifaceted and dynamic nature and due to the transformational power of digital technologies.

“The digital economy or the internet economy enables and supports various business, social, and government activities through electronic commerce, lifestyle apps, and e-government platforms, respectively. By this, the digital economy is considered the single most important driver of innovation, competitiveness, and growth.

“The digital economy has continued to play a very critical role in building resilience against disruptions from risks, pandemics, and natural disasters.

“The ICT sector, for instance, remains one of the most resilient sectors that thrive even in economic recessions and disruptions.

He said that, by means of innovation, the ICT sector or the digital economy powers many sectors today, driving competitiveness, cost-efficiency, and resilience in supply chains.

“Innovative disruptions are emerging in AgricTech, HealthTech, EduTech, eGovernment, etc. The digital economy has become more relevant in many spheres of our lives. With sound regulations, policies, and governance, the digital economy can create new possibilities and economic opportunities for businesses and investors. Governments and organizations must leverage technology for innovation, competitiveness, and resilience in the face of risks and uncertainties.

“As an advocacy pressure group and a lead promoter of small and medium enterprises (smes), we appreciate the significance of this sector to business growth and sustainability and we are ready to lend necessary support to the actualization of the goals set out by the government to build and sustain a robust and supportive digital economy.

“We have assembled eminent speakers whom we are confident will do justice to various issues as they reflect on the theme of this great event and the expectations of all of us.

“By strategic design, this year, we are working with the most relevant regulators, operators, and critical stakeholders in nigeria’s digital economy space. We are pleased to announce our collaboration with credible institutions like the federal ministry of communications and digital economy, Nigerian Communications Commission (NCC), the National Information Technology Development Agency (NITDA), Galaxy Backbone, Nigeria Internet Registration Agency (NiRA), Lagos State Employment Trust Fund (LSETF), Open Access Data Center, Rack Center, etc.

“We are proud to have worked with these institutions in planning and hosting the 2023 ICTEL conference & expo. Let me use this opportunity to urge the government at various levels to formulate policies that create a vibrant innovation ecosystem that support the deployment of more technology and the creation of more jobs in the technology sectors”.

Techecconomy is a media partner to LCCI on ICTELEXPO2023