{"id":65840,"date":"2022-10-24T16:39:50","date_gmt":"2022-10-24T15:39:50","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=65840"},"modified":"2022-10-24T16:40:45","modified_gmt":"2022-10-24T15:40:45","slug":"telecom-industry-contributes-70b-to-nations-economy-creates-500000-jobs-says-danbatta","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/telecom-industry-contributes-70b-to-nations-economy-creates-500000-jobs-says-danbatta\/","title":{"rendered":"Telecom Industry Contributes $70b To Nation\u2019s Economy, Creates 500,000 Jobs \u2013 Says Danbatta"},"content":{"rendered":"

Executive Vice Chairman(EVC) of Nigerian Communications Commission(NCC), Prof. Umar Danbatta said technology-driven telecommunications industry has contributed $70 billion to Nigeria\u2019s economy.<\/p>\n

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\"\"Danbatta said that the industry had provided over 500,000 jobs in the public and private sectors and improved the lives of millions of Nigerians.<\/p>\n<\/div>\n

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He made this disclosure in his keynote speech at a Cyberchain event in Abuja while speaking on the topic: \u201cUsing Technology to grow Nigeria\u2019s GDP\u201d.<\/p>\n<\/div>\n

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Danbatta said that the impact of technology to the nation in any society had been tremendous.<\/p>\n<\/div>\n

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Danbatta, who was represented by the Principal Manager, Digital Economy, Mrs Ella Eli highlighted that Nigeria\u2019s adoption of 5G, e-commerce, Fintech and Big data had boosted the country\u2019s revenue generation capacity.<\/p>\n<\/div>\n

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According to him, \u201cNigeria\u2019s adoption of digital technologies has enabled it to diversify its revenue and economy, created jobs, improved services and efficiency, reduced wastages, and optimised resources available\u201d.<\/p>\n<\/div>\n

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\u201cTelecommunications has contributed over $70 billion to the Nigerian economy, provided over 500,000 jobs in the formal and informal sectors, and improved the lives of millions of Nigerians.<\/p>\n<\/div>\n

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\u201cMost Nigerians today cannot comprehend life without mobile phones.<\/p>\n<\/div>\n

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\u201cPresently, the liberalised telecommunications sector has brought with it, instant messaging, instant information, financial inclusion, telemedicine, smart farming, e-Commerce and virtual learning, however, the best is yet to come.<\/p>\n<\/div>\n

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\u201cThe benefits of technology are endless and with technology becoming affordable, accessible, and available, these benefits will increase tremendously\u201d.<\/p>\n<\/div>\n

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Earlier in his opening remarks, the Convener, CyberChain, Abuja, Jude Ozinegbe, said Nigeria was currently moving in the right direction towards embracing the gains of the tech ecosystem.<\/p>\n<\/div>\n

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He said: \u201cWe are moving from Analogue to digital, some people seem to have been left behind, that is why we have decided to gather leaders in the space to educate us.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n<\/div>\n
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\u201cWe have leaders in this space that have seen the possibility and opportunity in this ecosystem.<\/p>\n<\/div>\n

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\u201cThis is my contribution to expanding the digital economy in Nigeria. As much as you can, contribute something positive about the space to amplify the good tidings within the ecosystem.\u201d<\/p>\n<\/div>\n

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Ozinegbe said with proper knowledge of Blockchain, Nigerian youth can earn by using their cell phones and data.<\/p>\n<\/div>\n

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On his part, a Crystocurrency Investigator, A and D Forensic, Adedeji Owonibi urged Nigerian youth to embrace the gains of Blockchain technology.<\/p>\n<\/div>\n

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Speaking on the topic, \u201cBlockchain Forensics and criminal elements:, Owonibi said a better dimension had been added to Blockchain and Digital technologies in Nigeria with the participation of the government.<\/p>\n<\/div>\n

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He said: \u201cIf you are a criminal within the blockchain space, you could do anything in Nigeria, however with our coming and government involvement, we all have a part to play in bringing sanity in the sector.\u201d<\/p>\n<\/div>\n

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Owonibi said that decentralisation was a blessing for the \u2018good guys\u2019 in the blockchain sector, while a bad thing for those using it criminally.<\/p>\n<\/div>\n

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He called for responsibility on the part of Nigerians in a bid to harness Blockchain opportunities.<\/p>\n<\/div>\n

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\u201cIf you have any business in blockchain make sure you are compliant with rules and be crypto security conscious\u201d, he said.<\/p>\n<\/div>\n

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The News Agency of Nigeria (NAN) reports that blockchain technology is a decentralised, distributed ledger that stores the record of ownership of digital assets. (NAN)<\/p>\n<\/div>\n

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