Stakeholders seek collaboration to advance Nigeria’s digital economy  

During the recently concluded Nigerian Economic Summit (NES30), participants stressed the importance of close cooperation between the public and private sectors while investing in technology and digital skills development to bridge the growing talent gap.

Specifically, the West Africa Director for Google, Olumide Balogun, highlighted the transformative potential of technology, noting its power to reshape economies and improve lives.

Balogun emphasized the immense opportunities that could be unlocked by collaborative efforts across government, business, and communities, positioning Nigeria as a digital leader in Africa.

While noting that Nigeria currently stands on the brink of significant economic change, he said the country faces both complex challenges and immense potential.

“Technology holds the power to transform lives and economies. We believe that by working together—across government, business, and communities—we can unlock the immense potential that Nigeria’s digital economy holds for the future,” Balogun said.

Also speaking, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, expressed optimism about the forum, highlighting the importance of private-sector collaboration in driving digital transformation.

What you should know

Despite the opportunities presented by the digital economy, stakeholders highlighted key challenges hindering its adoption.

Financial constraints, insufficient infrastructure, and limited access to foreign currency were identified as critical barriers.

However, the government said it is hoping to address some of these challenges through its National Digital Economy and E-governance Bill, which is currently before the National Assembly.