‘Digital Economy Bill To Make Nigeria More Competitive’

Minister of Communications Innovation and Digital Economy, Bosun Tijani, has said that the National Digital Economy and e- Governance Bill before the National Assembly, when passed into law will help to transform the Nigerian economy and put it on the pedestal of global competitiveness.

The minister stated this on Tuesday during a media parley to sensitise the public about the Bill in the presence of the Chairman of the Senate Committee on ICT and Cyber Security Shuaib Salisu and the Chairman of the House of Representatives Committee on ICT and cyber security, Hon. Stanley Adedeji.

Tijani explained that the Digital economy sector in Nigeria is projected to generate about $18.3 billion to the Nigerian economy, an indication of the sector’s critical role to the country, adding that the bill which is in its second reading will enhance its capacity and attract more investment.

He noted in his speech that the digital economy sector is a backbone for any economy. He said that Nigeria is one of the top two destinations for capital and FDI on the Africa continent, adding that the bill will accelerate the progress in the nation’s digital economy sector.

The content of the updated bill, which is the first of its kind, will be available by July 23, 2024 amid efforts to sensitise the public across the states on the objectives and benefits of the bill.
The minister said “We promised to support this bill and our hope is that it will be the first to travel across the entire country. It is also supported by the World Bank; therefore we have to ensure that we take this bill to every state in Nigeria.

“It is a bill that is important for all of our people and we want to give them the opportunity to review it. We believe that the bill will support the growth and transformation of the Nigerian economy through the application and the use of digital technology in all facets of life in Nigeria. This bill will create the enabling environment for fair competition, to promote innovation, growth and competitiveness for the Nigerian economy.”

He said the Nigerian digital landscape is replete with thriving indigenous companies which fall within the classification of companies that are worth a billion dollars. He added that the vibrancy of these companies in not just generating billions of dollars but in creating quality jobs is an indication of a thriving digital economy which when incentivized with a legislative framework can boost the economy further.

“The bill has the potential to unlock opportunities and raise productivity in every other sector. If the digital economy is strong, it will catalyse development and progress in for instance education. We can use technology to better educate our people to create jobs for our young people.

“Nigeria is the future of the world because of our young population, but we must strengthen the digital sector with more investment,” the minister added.

The director general of National Information Technology Development Agency (NITDA) Mallam Kashifu Inuwa, who gave a breakdown of the bill, said it will serve as an enabler to achieve the goals that have been designed for Nigerians under the President Bola Tinubu Government.

Represented by acting director for Standards Guidance and Framework of NITDA Emmanuel Edet, Inuwa said “The essence of the bill is to enhance the digital economy in Nigeria especially in government and the private sector. The ecosystem is booming and there is the need for us to harness the potential of this ecosystem in order to drive the economic desires based on the advantages we have in terms of capacity and in terms of other facilities that are available.”

Meanwhile the National Assembly said the National Digital economy and the E-governance bill currently before it, has the potential to transform the nation’s digital economy and position it for sustainable development.

The joint House of Representatives and Senate Committees on Digital Economy and Information Communication Technology as well as Cybersecurity stated this at a stakeholder’s engagement on the proposed legislation in Abuja on Tuesday.

In his remarks, chairman of the House Committee, Hon. Adedeji Stanley Olajide said the bill which has undergone first reading in the National Assembly aims at providing a legal framework for the development and regulation of Nigeria’s digital economy.

He said: “As we gather here today, I want to emphasise our commitment to an inclusive process in the development of this bill. It is going to be very inclusive. We recognise the importance of collaboration and stakeholders in ensuring legislation that reflects the needs and aspirations of Nigerians. This event marks the beginning of a series of engagements with various stakeholders and the general public.

“It is comprehensive legislation that seeks to establish a regulatory framework for the digital economy for digital literacy and skills development, enhanced cyber security and encourages innovation and entrepreneurship. It has the potential to unlock Nigeria’s digital potential and improve the lives of Nigerians.”

On his part, the chairman, Senate Committee on ICT & Cybersecurity, Senator Shuaib Afolabi Salisu said the bill was a first attempt to put an omnibus legislation to revolutionise the economy and unleash the full potentials of the ICT sector.

“All these things that we do now are not backed by any legislation. It is a first attempt to put an omnibus legislation in place to ensure that all those activities that we carry out online now we don’t have an existing legislation to back up those agreements when you go and do transactions in banks and a number of other places, we take things for granted.

“We are bringing together legislation that will revolutionise the economy and also unleash the full potential of the ICT sector. Without ICT, these other sectors cannot function. Our oil production may be impaired, stolen and may even have the capacity to produce and yet we have a ban set by OPEC, this is the only sector (ICT) that is not subject to those limitations. This is the only sector that doesn’t even require digging anything. What will be required is our head. This is one sector that even Jappa cannot affect.

This is the best time to have this legislation,” he noted.

The Bill is structured to ensure the validity of electronic or digital transactions, digital contracts, signatures and time stamps, utilisation of digital technology to support the carriage of goods and consumer protection for digital transactions.

Other areas that the Bill is structured to cover include; digital government infrastructure administration and management, the use of technology such as Artificial Intelligence and Blockchain for public services , data exchange, interoperability, and Information security in government.

Others include; innovation and procurement for digital technology in Nigeria’s public sector digital literacy to support increased use and consumption of digital services in Nigeria.