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FG’s diversification most successful in digital economy sector – Buhari 

President Muhammadu Buhari has said the digital economy sector has been most successful in the diversification of the nation’s economy, saving the federal government over N45.7 billion in IT projects clearance.

The President said this Thursday at the State House, Abuja, when he unveiled and launched two new policies developed by the Ministry of Communications and Digital Economy.

Linking the two policies to the diversification and prosperity of the economy, the President said the National Policy on the Nigerian Government Second-Level Domains and the National Data Policy, are central to accelerating the development of the nation’s digital economy sector, adding that this administration would continue to develop policies and programmes in furtherance of the diversification of the economy:

“In the last three and a half years, we have intensified the development of policies, design of programmes and implementation of projects in the digital economy sector and the impact has been very impressive.

“For example, we have succeeded in diversifying our economy to a large extent and this is obvious when we consider the contribution of the ICT sector to our Gross Domestic Product (GDP) in the second quarter of 2022 which stood at 18.44%, compared to the contribution of the oil sector to the GDP which was 6. 33% in the same period,” he said. 

The President said Nigeria’s strides towards a thriving digital economy started on October 17, 2019 with the redesignation of the Ministry of Communications and Digital Economy and the restructuring of its mandate, stressing that the changes have been phenomenal.  

“We are proud of the great strides of our digital economy sector and the impact it has had on the different sectors of our economy and I commend the Honourable Minister for being committed to the implementation of the digital economy mandate.

“As part of our commitment towards ensuring the sustainability of our gains in the digital economy sector, we have taken steps to institutionalise the process by developing relevant policies and strategies,” he said.

Earlier, the Minister of Communications and Digital Economy, Professor Isa Ali Pantami said the two policies being launched were outcomes of compliance with the President’s directive to come up with a National Policy that was earlier approved by the Federal Executive Council, noting that the policies were targeted at consolidating on the gains achieved so far in the digital ecosystem.

Enumerating the benefits to be derived from implementing the policies, the minister said the ministry relied on relevant provisions of the Constitution of Nigeria 1999 as amended, and the NITDA Act 2007, with the belief that they would go a long way in consolidating the achievements in the digital economy sector.



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