An Information and Com
munications Technology (lCT) expert, Mr Kelvin Makinde, has said accurate data gathering and collation is key to boosting foreign investments if the country must make progress in foreign business partnership.
Makinde, who made this statement in an interview with  newsmen recently in Abuja, said this has become imperative the country must make progress in foreign business partnerships.
He said most foreign investors come from advanced economies where data gathering and collection has become a common practice where any type of information can be obtained just by pressing a button.
“Most foreign investors want to be assured of returns on their investments. They come from systems where through data they can easily monitor progress on their investment or lack of it.
“Nigeria is a fertile ground for any investor, the only problem that I see that hinders our progress is the lack of infrastructure and most importantly lack of accurate data.
“An investor wants to know the demography of the place he wants to operate in, the number of people they are dealing with and other information that will affect their businesses.
“All these information are supposed to be available to anybody who is interested in them but  you find that this simple information is usually not readily available.
According to him, even most hospitals in Nigeria cannot boast of knowing the number of children that are born in them and the national population commission also cannot provide the information ..
“It is necessary for the government to look into the proper funding of the sector as it is critical in driving the development process ..
“I suppose that is the reason why African governments came to the agreement to devote one per cent of their GDP to the sector.
“I believe if this is done investors will flow in because Nigeria has all the potential to attract foreign investor who are serious to make money in this century. No nation can excel without good data backup facility,” Makinde said.
The expert said the Open Data Initiative launched by the Ministry of Communications Technology recently, was a laudable development but appealed to the ministry to make it workable.
“The initiative is very good but we all know that we are not lacking in policies in this .country but the will to implement the policies is what we find difficult.
“Of course it will help even indigenous businesses to flourish if the implementation is comprehensive, so the Minister, Mrs Omobola Johnson should try and ensure that the impact of the initiative to be felt among the citizens.
“When small businesses can also go and access information this will aid them to grow their businesses, it’s all about information gathering and dissemination, so data gathering, processing and collection is key to national development.”
The ministry of communications technology recently kicked off the Open Data Development Initiative to support the federal government’s objective of driving innovation, investment and economic growth by ensuring access to government data.