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Digital Tech Will Foster Economic Growth, says Obaseki.

Nigerians have been advised to use the digital arena to boost economic growth and the country’s Gross Domestic Product (GDP) (GDP).

The appeal came at a virtual technology roundtable aimed at helping Nigerians realize their full potential and take advantage of the opportunities given by digital technology.

Edo State Governor Godwin Obaseki, speaking at the seventh Mike Omotosho Annual Lecture, stated that given the country’s disadvantages, the digital economy must be a vital leveller to promote the country’s economic progress.

Obaseki said: “Since 2020, the world has centrally changed; this new economy has become a lot more remarkable and significant. The majority of Nigerians deliberately participate in the digital economy through the use of the telephone. With the smartphone penetration and other electronic devices, the digital economy and its activities create millions of dollars for countries and the economy globally and this is what we now refer to as the new economy.

“The very medium of our interaction today is digital and it is based on technology that has been accelerated as a result of the restrictions we found ourselves during the COVID-19 pandemic. This has affected businesses globally and locally and created jobs. In fact, one of the few areas of significant growth witnessed since 2020 is the area of technology.”

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To lift people out of poverty, Obaseki underlined the need of creating wealth, reducing unemployment, and increasing the country’s GDP, as well as focusing on technology.

“It might not just be one magic wand, but clearly technology has a role to play in helping us rethink our economy and foster growth. First and foremost, we have to think about data and think about new technology. Interestingly, digital technology is applicable to almost every aspect of our life. We must think very carefully as we lay out a digital strategy for our country.”

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