An Oxford Economics report estimated the digital economic system at $ 11.5 trillion in 2016, or about 16 p.c of the worth of the worldwide economic system with the digital economic system rising 2.5 occasions sooner than GDP. globalization of the final 15 years.
“In keeping with McKinsey, the digital economic system in Africa is projected to develop to greater than $ 300 billion by 2025. The World Financial Discussion board additionally predicts that greater than 60 p.c of world GDP might be digitalized by 2022 and that within the subsequent decade, digital platforms might be used to create near 70 p.c of the brand new worth.
“We’re additionally witnessing how the COVID-19 pandemic has drastically elevated the adoption of digital applied sciences. All of those present the nice worth of the digital economic system and function an incentive for nations to prioritize their growth.
For his half, the Director Normal of the Nationwide Company for Growth of Info Applied sciences (NITDA), Dr. Inuwa Abdullah narrated the digital journey of Nigeria.
In keeping with Dr. Abdullah, “The journey started only one 12 months in the past on October 23, 2019, when President Muhammadu Buhari modified his identify and prolonged the mandate of our ministry to cowl the digital economic system.
“This journey is stuffed with new alternatives, thrilling prospects and important challenges, however with the Minister of Communications and the Digital Financial system piloting and guiding this journey, we’ve got been in a position to flip challenges into pleasure, discover prospects and seize alternatives.
“That’s the reason in a 12 months, we are able to do lots when it comes to implementing the nationwide digital economic system coverage and technique for digital Nigeria.
“Achievements up to now are unprecedented. Simply ICT is a facilitator not the digital economic system, however the sector in these previous few months has grown to 17.83 p.c.
“The Minister leads the implementation of recent initiatives that assist our younger Nigerians, our younger digital natives to unlock or make the most of this new frontier. We name on the digital economic system to create worth for themselves and for the nation on the whole. “, mentioned DG NITDA.