Business
Nigerian Economy’ll Be 21% Digital By 2021, FG Boasts
The Minister of Communication and Digital Economy, Dr Isa Ali Pantami, has forecasted that the Nigerian economy would be 21 per cent digital by 2021.
The minister, while speaking at the Chartered Institute of Bankers of Nigeria (CIBN) 2020 Graduates’ Induction and Prize Award’s Day, yesterday, said the Covid-19 pandemic has shown the importance of the digitalisation in the growth of any country’s economy.
Pantami noted that there has never been a more urgent time to fast track digital transformation in Nigeria, saying that the digital economy drive was aimed at rapidly enhancing digital identification, broadband penetration, how bank accounts are run, etc.
While stressing the need for professionals to develop more innovative digital tools and competencies, the minister said activities in the banking, customs, and ports sectors, including revenue collections are being digitalised.
He further noted that broadband penetration at the end of July rose to over 43 per cent an almost 10 per cent increase in less than a year.
The minister said compared to the usual two per cent penetration witnessed in the years before, this is a remarkable step in the digital direction.
Pantami went on to disclose that the ministry was working to ensure that indigenous digital solution providers and entrepreneurs get preference, saying that the current administration was committed to consuming what it produces.
“The latest Quarter Two (Q2) 2020 report recently released by the National Bureau of Statistics (NBS), showed that the Information and Communications Technology (ICT) sector contributed about to 17.83 per cent to the Gross Domestic Product (GDP), from 13.85 per cent in the same period of 2019.
“Yet, the digital economy was not included in the disclosed figure. If the digital economy was added, it would have risen well above 45 per cent to GDP,” Pantami added.
Also speaking, the President and Chairman of Council, CIBN, Bayo Olugbemi, in his speech, charged professionals to take advantage of the digital economy to shape the future of the banking industry.
He said it was in recognition of the important role the banking and finance industry plays in the growth and development of the economy that the Institute decided to x-ray the topic, “Digital Economy: The Role of Professional Bankers.”
According to him, Covid-19 accelerated the pace of the digital revolution, making it imperative for Nigeria to rethink its approach to the digital economy, which has become the new normal.
He maintained that technology has caused significant disruption in the financial sector, noting that the implication of the revolution to the institution was that professional bankers need to acquire new skills, to be able to combine digital awareness with great people skills.
His words: “I believe that highly qualified, knowledgeable, skilled, dedicated, customer-focused banking professionals will shape the future of banking, as much as the new technologies that are transforming the financial-services industry will.”
Also, Olugbemi disclosed that about 1,864 candidates were admitted into the various categories of membership of the Institute, with 899 admitted into the ACIB, 41 into Chartered Banker MBA, 22 into MSc/ACIB, and 902 into Microfinance Certification programmes, cutting across countries like Nigeria, The Gambia, Ghana, Rwanda, and Sierra-Leone.
Nkpemenyie Mcdominic
Reports say that the training is designed to equip youths with practical technical skills for employment in the oil and gas and construction sectors, with emphasis on employability, safety, competence and self reliance.
In attendance at the flag-off ceremony this week, at the Petroleum Training Institute (PTI) Conference Hall, Effurun, were stakeholders, dignitaries, and political representatives, among others.
Dafinone, represented by his Chief of Staff, Adelabu Bodjor, said the initiative reflects a deliberate political investment in human capital development across Delta Central.
He explained that the training focuses on rigging and scaffolding, noting that “both are essential technical competencies required in industrial operations, construction projects, and oil and gas installations”.
Bodjor added, “The programme is intended to reduce dependency among youths by providing job-ready skills capable of supporting long-term economic opportunities and self-sufficiency. The initiative aligns with Senator Dafinone’s broader development agenda, which prioritises practical skill acquisition as a pathway to sustainable empowerment.”
Also addressing the participants, the NCDMB, Felix Omatsola Ogbe, represented by Mr. Teddy Bai, commended Dafinone for sponsoring the programme, describing it as “a timely response to critical manpower gaps in the industry”.
Bai explained that rigging and scaffolding remain safety-sensitive skills required across fabrication yards, offshore platforms, and construction sites, stressing that the programme bridges the gap between certification and practical competence.
He also charged the training consultant, OROH Contractors Limited, to maintain strict standards of professionalism, safety, and discipline, while urging participants to remain committed, focused, and disciplined throughout the exercise.
The Senate Liaison Officer for Sapele Local Government Area, Chief Patrick Akamuvba, , described the programme as a major step in strengthening human capital development in Delta Central.
Akamuvba said scaffolding and rigging skills are in high demand across residential, commercial, and industrial construction projects, noting that the training offers real employment opportunities for beneficiaries
He urged participants to prioritise knowledge and certification over short-term material expectations, stressing that discipline and seriousness would determine their long-term success.
He also cautioned youths against social vices and distractions, advising them to remain focused to maximise the opportunities provided by the programme.