Digital Economy: FG’s Focus on Policy Implementation Through Effective Stakeholders EngagementÂ
By Mubarak Umar
TECHDIGEST – The Nigerian Government has continued to display its relentless effort by working tirelessly to develop a sustainable digital economy, as it recognises the critical role Information Technology (IT) sector plays in driving economic growth and development.
The National Information Technology Development Agency (NITDA) is the government body tasked with developing and regulating IT policies and programmes that support sustainable digital economy and improve taxation in Nigeria. However, to effectively develop and implement these policies, NITDA finds it pivotal to engage and interact with key stakeholders in the industry such as banks, financial and pension institutions, IT and telecommunications companies as well as taxpayers.
To achieve its mandate of implementing relevant policies, developing and regulating IT for sustainable development, NITDA recognises that it needs to work closely with stakeholders to develop effective policies and programmes. One of NITDA’s key stakeholders is the Federal Inland Revenue Service (FIRS), which is responsible for tax collection in Nigeria.
To bridge communication gaps and bring people closer to its initiatives, NITDA in collaboration with and FIRS held a Stakeholders’ Engagement Forum in Lagos on the 21st of February, 2023 where they interacted with various stakeholders, including Banks, Financial Institutions, Cyber Companies, Insurance Companies, Telecommunications Companies (Telcos), Pension Managers, Taxpayers, and other relevant organisations. The aim of the engagement was to gather feedback on ways to improve payment timelines and provide better accountability to taxpayers.
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The objective of the stakeholders’ engagement forum held by NITDA and FIRS, is to evaluate the progress made so far in the development of the digital economy sector and to appeal to stakeholders for prompt payment of relevant levies to fast-track critical development in this sector.
These levies are important sources of revenue that are needed to fund the development of the digital economy sector in Nigeria. The critical development in the digital economy sector that NITDA and FIRS are referring to includes initiatives such as the development of digital infrastructure, the promotion of digital entrepreneurship, and the creation of digital jobs. These initiatives are critical to the sustainable development of the digital economy sector in Nigeria.
The forum provided an opportunity for stakeholders to review and assess the progress made with the taxpayers’ monies that have been invested in the development of the digital economy sector in Nigeria. Stakeholders were able to evaluate the impact of the policies and programmes implemented so far, identify areas of success, and highlight areas that need improvement.
As Digital Economy continues to make massive impactful contributions to the country’s Gross Domestic Product (GDP), stakeholder engagement is crucial to the development and implementation of effective policies that meet the needs and concerns of stakeholders. This will effectively promote the growth of the digital economy while improving taxation by making it easier for taxpayers to pay their dues.
By involving stakeholders in the policy development process, NITDA aims to identify their needs, concerns and interests and incorporate them into the policy framework. This approach is to ensure that policies are not only effective but also relevant to the stakeholders.
In addition, NITDA stakeholder engagement will help in building trust and collaboration between the Agency and its stakeholders. Through this engagement, NITDA can demonstrate its commitment to transparency and accountability, and also enhance policy adoption by increasing stakeholder buy-in and support.Â
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NITDA is willing to build trust and confidence in the tax system, which can lead to greater compliance and increased revenue for the government. This can be achieved by providing regular reports on how taxpayers’ monies have been expended, demonstrating transparency and accountability in the use of public funds.
During his presentation, Kashifu Inuwa CCIE, the Director-General of NITDA, eloquently highlighted the remarkable achievements that the agency has accomplished since its inception, as well as the current state of the Nigerian IT ecosystem. With an extensive understanding of the field, he also shed light on the challenges and potentials that exist in this burgeoning industry, painting a comprehensive picture of the opportunities and obstacles that lie ahead.
Inuwa highlighted the Agency’s ambitious National Digital Skills Strategy Implementation, which aims to empower 95% Nigerians with digital literacy skills by the year 2030. He went on to discuss the exciting opportunities that this initiative will bring, including the training of one million developers who could potentially generate an impressive $20 billion in revenue annually, and hoping to unlock the immense potential of Nigeria’s human capital and drive economic growth in the digital age.
He emphasised that NITDA has several flagship initiatives and projects aimed at capturing value, one of which is the strategic development and incubation of talented individuals. According to research by Korn Ferry, it has been projected that there will be s a massive talent deficit of 85 million individuals globally by 2030, making the development of talent a crucial industry in its own. Through this focus on building and nurturing human capital, NITDA can position Nigeria at the forefront of the emerging digital economy, by equipping individuals with the necessary skills to thrive in this rapidly changing landscape.
Inuwa stressed the importance of ongoing collaboration to achieve greater productivity. As he noted, “no one can whistle a symphony; it takes a whole orchestra to play it.” The agency firmly believes in the power of teamwork, recognising that while there are certain things that can only be accomplished by the government or the private sector alone, together, there are no limits to what can be achieved.Â
He added that NITDA is committed to forging strong partnerships and working collaboratively to co-create a thriving ecosystem that benefits all stakeholders. By leveraging the strengths of all participants, the agency believes it can drive prosperity and success for the Nigerian IT industry and the wider economy.
Inuwa elaborated on the key priorities that the agency is currently focused on. These priorities include the implementation of the Nigeria Start-up Act, which is aimed at creating a more conducive environment for startups to thrive in the country.
Another priority is the completion of the National Digital Innovation and Entrepreneurship Centre, which is a hub for tech startups and entrepreneurs to connect and collaborate. The agency is also working on the implementation of the National Data Strategy, which seeks to ensure the proper management and utilization of data in the country.
The adoption of blockchain technology is another area of focus for the Agency, as it has the potential to transform many industries in Nigeria. The implementation of the National Digital Skills Strategy is also a priority, as it seeks to equip the Nigerian workforce with the necessary digital skills to compete in the global economy.
Inuwa also highlighted the significance of the roadmap for AI adoption. According to him, the roadmap is designed to effectively leverage the power of AI, and is expected to play a role in tapping into the rapidly growing $13 trillion global market by 2030. This forward-thinking approach to AI implementation is expected to bring about numerous benefits, including increased efficiency, productivity, and competitiveness in various sectors of the economy.
Inuwa is confident that by working together with stakeholders, a more prosperous Nigeria would be created. The vision is for Nigeria to lead the charge in Africa’s digital economy, and to become a nation that can compete on the global stage. With key stakeholders’ support and collaboration, he believes the vision will be a reality. Working in silos is not idealistic, it is time to work hand in hand to build a brighter future for our beloved country, one that is characterised by digital innovation, growth, and opportunity.
