Recently, the president and CEO of the foremost telco, MTN, Ralph Mupita confirmed, during the 2023 Businessday CEO Forum, that Africa currently accounts for only one percent of the global digital economy, compared to a whopping 68 percent in the United States, 22 percent in China, and 27 percent in Asia.

While this worrisome data continues to stare us in the face, it is quite glaring that it is time to continue to deepen the conversations around how Nigeria’s digital economy vis-a-vis Africa can be upgraded to cater to the need for modern economic growth in the diverse rural communities in Nigeria.

The need to provide widespread rural mobile broadband services, uphold a strategic blueprint for building a digital economy, and fastrack the growth of Nigeria’s Internet Gross Domestic Product (iGDP), currently at six percent to with the possibility of doubling before 2050 to reach a significant $145 billion, among other necessities for digital economy growth can never be under-discussed.

Meanwhile, as informed by DataReportal, the internet penetration in Nigeria stood at 50 percent in 2020, but increased to 55.4 percent at the start of 2023 with about 122.5 million internet users.

This means that at least half the population of the country has digital access but some stakeholders think perhaps, these set of people with access may not actually possess the right skill sets.

Hence, we need to start moving conversations and subsequent actions beyond just access to digital skills to empowering actual utilization of these skills towards growing the digital economy.

This and other pertinent issues were the cruces of the deep conversations at the Ogun Youth Development & Empowerment Summit (OYDES) 2.0, with the theme, “Digital Economy: Skills and Opportunities”.

The event was organized by Junior Chamber International, (JCI) Rockcity in Abeokuta recently.

JCI Rockcity is one of the leading local organizations of JCI in Nigeria based in the city of Abeokuta, Ogun State.

This leadership organization of young enterprising persons prides itself on being a collection of young leaders making positive and sustainable impacts in the Abeokuta metropolis and Ogun State for over 10 years.

The organization has showcased the wide array of programs and projects undertaken to create a positive impact in the local communities in line with the guidelines of the United Nations (UN) Sustainable Development Goals (SDGs).

OYDES, one of such initiatives, which kicked off in 2022, was borne out of the need for young leaders and entrepreneurs to understand their immense potential in the economic development of the country. This year, OYDES focuses on such potential as it relates to what the digital economy holds and how to harness its power for the betterment of societies, especially in an era that’s driven by technological advancements.

“It has become imperative for us”, the 2023 President, JCI Rockcity, JCIN Amb. Motolani Oyedeji stated succinctly on the sidelines of the event.

JCIN Amb. Oyedeji noted while addressing the audience at the program that the digital economy phenomenon has become an intrinsic part of our lives, transforming the way we live, work, and interact with each other.

“Today, we have the privilege of exploring the various skills and opportunities that arise from the digital economy. This event shed light on the skills required for individuals to thrive in this rapidly evolving landscape”, she said.

It is pertinent to note that the event showcased conversations around the endless possibilities for entrepreneurs and small businesses to expand their horizons and connect with a global customer base.

The carefully selected panelists brought various perspectives, in line with their respective experiences and knowledge of pertinent issues, to bear on the theme.

The event also provided insights into the emerging job roles and career paths that young entrepreneurs and intrapreneurs can explore as engendered by the advent of the digital economy.

“As we gather here, let us not forget the importance of digital literacy. It is the foundation upon which the skills and opportunities of the digital economy are built. We must equip ourselves with the knowledge and understanding of the tools, technologies, and platforms that drive our digital world.

“By enhancing our digital literacy, we can navigate this new terrain
with confidence and embrace the opportunities it presents” she further explained.

“The quality of discussions and insights shared were nothing short of exceptional, and we hope you’ve taken away valuable lessons that will shape your journey ahead and propel you to take positive actions”, JCIN Amb. Oyedeji said.

In his keynote speech at the event, the Founding Partner, Technological Partners, ‘Lumi Mustapha, who is a commercial attorney (qualified in both the UK and Nigeria), business analyst, and strategy advisor noted that, unlike traditional economies, the digital economy is a global market that can be immediately reached, given technology advancements that have opened up access to borderless opportunities.

“Your smartphone is your key to opening the door to this world. It is in effect like a genie in a lamp that you walk around with. It can grant you any wish you desire in terms of knowledge you want to acquire, and where/to whom you can sell the product/service of that knowledge.

Mustapha urged the participants to leverage the various efforts of both government and private organizations’ partnerships in promoting opportunities in the digital economy among youths.

“But until these government initiatives and partnerships begin to yield tangible gains, it is crucial that you, as the masters of your own destinies, begin to tap into the existing opportunities, or at least learn more about, and position yourselves to capitalize on them” he advised.

Mustapha also called on the government to develop better infrastructure; improve education to facilitate greater skills opportunities; facilitate greater local investment to create and grow more businesses; and enable conducive security cum socio-economic conditions.

With the rapid technological advances, there will definitely be countless changes and opportunities and it is only hoped that the youth will continue to leverage opportunities by building the right skills for the future of the workplace and to advance the growth of the digital economy in Nigeria.