The use of new technologies to better governance at all levels, as well as other technological advances driving digital transformation, were the focus of this year's Social Media Week Forum, which concluded last week in Lagos, writes Emma Okonji.
In Nigeria, the use of technology to enhance governance processes is rising. Federal, state, and corporate chief security officers (CSOs) have spearheaded this process by developing mobile apps, SMS systems, and websites, among other things. The organisers of the recently finished annual Social Media Week Forum in Lagos seized the opportunity to engage technology professionals in several panel discussions to address the benefits of embracing emerging technologies for effective governance and sustainable business growth https://womenvitamin007.blogspot.com/ among organisations.
The power of data and data analytics for improving government services and making them more effective, as well as how women could harness the power of emerging technologies to compete with men and end gender-based violence, were all part of the exciting discussions at the one-week event, which also included exhibitions of emerging technologies.
Technology in education and healthcare
Experts in https://womenvitamin007.blogspot.com/ education and health who spoke at this year's meeting decided to be more imaginative by implementing new technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Augmented Reality (AR) to enhance the country's education and health sectors. As a result, they have urged the federal government to invest more in education, health, and exports in order to prepare for the digital future.
The experts, who appeared as panellists in one of the sessions at the recently ended Social Media Week (SMW) 2020 with the theme: Nigeria 2050: Shifting Gears, stated that the sooner the country began to prepare for the digital era, the better off the country would be in achieving its potential. Wilson Erumebor, Senior Economist of Nigerian Economic Summit Group, stated that the United Nations forecasts that Nigeria's population will double by 2050 and that only a competitive private sector economy can assist attain a growing quality of life. He stated that the Nigerian government must begin enacting policies and investing in the proper locations in order to serve an extra 250 million people by 2050. According to Erumebor, the population is predicted to be about 400 million people, with the majority being women.
"An additional 250 million people would require food, jobs, a functional health-care system, and education, among other things." To end poverty in Nigeria, the country's economic production and prospects for its population must be improved. "Investing in human capital potential and establishing jobs for women and young people, as well as boosting financial access and possibilities for those groups in rural regions," Erumebor https://techtimetas.blogspot.com/ explained.
"The government has a major role to play in the field of creating infrastructure to improve the country's Gross Domestic Product (GDP)," he says. He stated that by 2050, three possibilities should be expected: Either Nigeria maintains its current standing as an African and global powerhouse, or it deteriorates.
Dr Ola Brown, the founder of Flying Doctors Nigeria, stated that the country has a major infrastructural problem that must be addressed as soon as feasible by the government.
She stated that in order to prepare for 2050, policymakers should begin thinking about how to enhance economic productivity.
Brown said Nigeria needs to improve in the area of exports to grow the economy."Most of the time, we consume what we don't make." It is past time for us to start doing more exports than imports." In most cases, a country's population may be touted as a strength; but, in Nigeria, population expansion outpaces public infrastructure. To reverse this narrative, improvements in health care, productivity, investment, and higher government expenditure are required," Brown added. Solape Hammond, Special Adviser to the Governor on SDGs for Lagos State, stated that the state was planning ahead of time to work with the private sector to provide protection for residents through its Lagos State Security Trust Fund. To combat unemployment, the Lagos State government, according to Hammond, has offered cash for small enterprises. "The government set aside around N7.5 billion for 10,000 enterprises, demonstrating that "This demonstrates that Lagos is improving and has a lot of promise," she continued.
Financial inclusion through https://techtimetas.blogspot.com/ technology One topic of relevance to Nigerians that was discussed during the event was the role of technology in accomplishing Nigeria's financial inclusion plans, which include a 20% decrease in financially excluded adult Nigerians by 2020. Experts who spoke at one of the panel sessions sponsored by Stanbic IBTC Bank shed light on the insights and issues of Nigeria's financial inclusion journey, as well as emerging technological developments that would assist the country in realising its financial inclusion plans. One of the panellists, Mrs Nkemdilim Uwaje Begho, Chief Executive Officer of Future Software Resources, discussed the significance of FinTechs in bringing innovative technological solutions that would drive banking operations in meeting the 20% reduction objective of financially excluded adult Nigerians.
Mr Wole Adeniyi, Executive Director, Personal and Business Banking, Stanbic IBTC Bank, stated that the role of technology in the financial inclusion drive was meant to democratise access to financial services and that Stanbic IBTC Bank would continue to help in democratising that access by offering demystified banking solutions that would help customers carry out banking transactions with ease within a couple of minutes, thereby reducing the time spent in most banking transactions.
"The tremendous investments in banking solutions by FinTech and banks are really pushing financial inclusion in more rapid and easy ways," Adeniyi says. Our duty as banks is to get more Nigerians on board and provide them with the opportunity to be financially involved, and we have solutions that provide consumers with access to a greater range of financial services at reasonable prices. Our EasyCash, for example, enables users to obtain loans and other financial services more quickly, particularly microlending services." He went on to say that Stanbic IBTC also supports small agro firms through its Mobile Wallet and the Founders Factory channels, through which the bank provides quick access to financing to small agricultural enterprises.
Another panellist, and Head of Information at EFInA, Dayo Odulate Ademola, stated that while the number of adult Nigerians who are financially included is increasing, the growth rate is not proportional to the country's population growth, as approximately 36.6 per cent of adult Nigerians are still financially excluded. She stated that the quickest method to match financial inclusion development with population expansion was to use digital solutions, which she claims have assisted Nigeria in leapfrogging its infrastructural difficulties as a nation. "In recent times, technology has enabled us to have access to financial services, utilising technology as a base," According to Ademola, between 2016 and 2018, around 9.4 million Nigerians depended primarily on informal financial services, however technology has helped to close this gap. When it comes to government regulation of financial services, Ademola believes that there is a need for legislation to safeguard customers, but that such restriction should not inhibit technological progress. She advocated for the harmonisation of various data silos at various departments of government in order for Nigeria to strengthen its financial inclusion programme with the correct identification of adult Nigerians.
Collaboration between technology and media
.jpg)
This year's https://techtimetas.blogspot.com/ Social Media Week also addressed the importance of collaboration between conventional and digital media. Participants agreed that in order for the media to stay productive and reach a broader audience, conventional and digital channels must work together. Panellists urged more strong, coordinated, and centralised operations between conventional and digital platforms during one of the sessions titled "Will Traditional Media Survive in the Digital Age." Akintunde Marinho, the founder of Arcadia Mobile TV, believes that content producers should partner with conventional media to achieve synergies. According to Marinho, most government-owned media in the broadcasting industry have significant capabilities that other broadcast media should use to attract a bigger audience. Uzoma Onwuchekwe, Chief Operating Officer of Envivo, emphasised the need for partnership between commercial and government-owned media in order to develop better and wider distribution via the use of suitable technologies. Yinka Adebayo, Executive Director of Media Investment, has urged for mergers and acquisitions among media companies, similar to what happened in the banking sector a few years ago. SDGs and technology The event encouraged the federal and state governments to invest in appropriate technologies that would assist the country achieve the UN SDGs, citing technology as a vital driver in achieving the UN SDGs. Countries are expected to achieve the SDGs by 2030.
Poverty elimination, zero hunger, excellent health and well-being, quality education, gender equality, clean water and sanitation, and inexpensive and clean energy are among the 17 SDGs. Others include, among others, decent employment and economic growth, industry, innovation, and infrastructure, less inequality, sustainable cities and communities, responsible consumption and production, and climate action.
According to a survey done by the Impact Investors Foundation (IIF) and the Ford Foundation, the impact investing industry rose from $1.9 billion in 2015 to $4.7 billion in 2019. According to the research, impact investing is defined as investments made in companies, organisations, or funds with the purpose of generating social and environmental effects in addition to a financial return. "The business sector expects to see fast returns on investments," she says, "but social enterprise takes time." Before bringing in the private sector, we need to create the economic value chain of these firms." Prof. Olayinka David-West, Academic Director of Lagos Business School, stated that widening the scope of impact investment and de-emphasizing the notion of a mere charity will go a long way toward attaining the goals.
Agriculture Technology
Participants at the SMW event also emphasised the significance of adopting innovative agricultural technology.
Participants at the Agritech Youth Empowerment workshop remarked that through using new technology, the country's agricultural industry might be appropriately changed.
Angel Adelaja-Kuye, the Agriculture Consultant to the Governor of Ogun State, stated that in many nations, youngsters are already embracing agriculture via the integration of modern technology.
"I am an Agritech advocate who wants to see more young people leading agriculture via technology," she stated.
Adelaja-Kuye went on to say that the agricultural industry is one that young people should be interested in, saying that the agricultural sector will produce Africa's future billionaires. When it came to investment funding, she said agritech was still the fastest expanding area. "The industry is a gold mine." Agriculture, according to Segun Oworu, remains the frontier for human existence in the face of limited resources and expanding population. According to Oworu, industrialised countries such as Brazil, the United States, Germany, and portions of Europe are leading the race for digital agriculture and data-driven agribusiness. "Digital agriculture refers to instruments that gather, store, analyse, and disseminate economic data or information before and after farm production along the agricultural value chain." "In the fight for digital agriculture, Nigerians and Africans must understand and establish our competitive advantage before focusing on competing with wealthy countries." This is due to the fact that we have unique requirements and issues that have strained our system and economies," Oworu explained. Wole Oshin, Head of AgriBusiness at Stanbic IBTC Bank Plc, stated that Nigeria has promise.
"The government has begun to use technology to aid agricultural productivity." We are starting to employ developing technologies like satellite monitoring devices, which allow farmers to examine the growth of their crops without having to go to the farm."Other types of technology are also being created to monitor and count the number of birds and eggs at poultry," he said.
She believes that the emphasis should be on the impact that the investment will have.
"We need https://techtimetas.blogspot.com/ initiatives to attain the SDGs." Interventions are costly. "And these initiatives must be durable even once financing is no longer available," David-West added.
.jpg)
.jpg)
.jpg)
0 Comments