An economist, Mr Antai Onoh, warned on Monday that Nigeria\u2019s
\neconomy would be pushed to the periphery of global growth if the country failed
\nto become Information and Communication Technology (ICT) compliant<\/p>\n
Onoh, a risk Analyst with Diamond Bank, spoke with The Tide
\non Monday in Lagos.<\/p>\n
According to him, recent studies in economic development
\nsuggest that a country\u2019s Gross Domestic Product (GDP) is closely related with
\nthe level of development of its infrastructure.<\/p>\n
He stressed that the infrastructure must be right to achieve
\neconomic growth.<\/p>\n
\u201cInternational research suggests that a 10 per cent increase
\nin ICT infrastructure can lead to 0.59 per cent increase in GDP in a typical
\ndeveloping economy,\u201d he said.<\/p>\n
Onoh said that the government and the private sector must
\ntherefore invest in, and encourage the intense use of technology to promote
\ndevelopment and economic growth.<\/p>\n
\u201cBoth government and business will benefit from the
\ntechnology boom which has transformed other economies as well as improve the
\nlives of the citizens in the West and in Asia.<\/p>\n
\u201cWith proper encouragement and enlightenment, we can catch
\nup with technological advancement in ICT and surpass leading African nations
\nlike South Africa,\u201d he said.<\/p>\n
Onoh noted that nobody talked ICT these days without the broadband
\nto boost inter-connectivity.<\/p>\n
\u201cSo, it means that our telecom operators have to become
\nefficient,\u201d he said.<\/p>\n
Onoh pointed out that e-payment had become a vehicle for
\neconomic development worldwide, adding: \u201cThis shows how the world has become
\ntechnology intensive.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
An economist, Mr Antai Onoh, warned on Monday that Nigeria\u2019s economy would be pushed to the periphery of global growth if the country failed to become Information and Communication Technology (ICT) compliant Onoh, a risk Analyst with Diamond Bank, spoke with The Tide on Monday in Lagos. According to him, recent studies in economic development […]<\/p>\n","protected":false},"author":43,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-52291","post","type-post","status-publish","format-standard","hentry","category-icttelecom"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/52291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52291"}],"version-history":[{"count":0,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/52291\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}