Tinubu reaffirms commitment to digital economy, youth empowerment

By Kunle Sanni

President Bola Tinubu has reiterated his administration’s commitment to leveraging Nigeria’s digital economy for youth empowerment, job creation, and national growth.

Speaking at the State House on Monday while receiving a report from participants of the Senior Executive Course 46 of the National Institute for Policy and Strategic Studies (NIPSS), Tinubu emphasized the role of innovation and digital skills in transforming the economy.

“At the core of our administration is youth empowerment. We will continue to engage the Institute as a resource center and think tank for national prosperity,” Tinubu stated.

The report, titled Digital Economy, Youth Empowerment, and Sustainable Job Creation in Nigeria: Issues, Challenges, and Opportunities, outlined key recommendations, including the speedy enactment of the Digital Economy and e-Governance Bill 2024 and the removal of Right of Way fees by states to accelerate telecom infrastructure deployment.

Tinubu directed the Minister of Communications and Digital Economy to collaborate with NIPSS participants and submit an implementation strategy to the Secretary to the Government of the Federation and the Head of Civil Service.

He also endorsed adopting advanced technologies like the Quintuple-Helix Model, expanding funding for the 3 Million Technical Talent (3MTT) scheme, transitioning from IPv4 to IPv6, and establishing Digital Health Innovation Hubs nationwide.

Minister of Communications and Digital Economy, Bosun Tijani, announced that the Digital Economy Bill will undergo nationwide public hearings before its expected passage in the second quarter of 2025. He also confirmed that 11 states have waived Right of Way fees to support broadband expansion.

Tijani highlighted a $2 billion broadband infrastructure investment to lay 90,000 kilometers of fiber optic cables, making Nigeria’s fiber network the third-longest in Africa after South Africa and Egypt. The World Bank is supporting the initiative with a $500 million commitment.

Coordinating Minister of the Economy and Minister of Finance, Wale Edun, noted that the ICT sector contributed 16% to Nigeria’s GDP in 2024 and reaffirmed the government’s commitment to strengthening it as a pillar for economic stability and job creation.

He also referenced President Tinubu’s recent engagement with Flutterwave’s CEO, where the fintech company pledged to support Nigerian youth and SMEs through tech-driven solutions and is considering listing on the Nigerian Stock Exchange.

Tinubu concluded by reaffirming his administration’s focus on building a robust digital economy to unlock opportunities for Nigerian youth.

“You are an asset to our country,” he told the NIPSS participants. “We will continue to collaborate with you for national prosperity.”