Recession: ICT Would’ve Saved The Economy- Communication Minister
The Minister of Communications, Mr Adebayo Shittu, has claimed that Information and Communication Technology (ICT) could have taken the dwindling Nigeria economy out of recession.
The minister disclosed this while delivering a lecture at Eminent Person Business organised by University of Ibadan School of Business (UISB).
He said, “the diversification of the Nigerian economy would not be enough to take the country out of recession except the process was done by leveraging on ICT in an effective and efficient manner.
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“The country is presently in a recession, but it is not because we are in it that we are concerned.
“We are concerned because each time there is a sharp drop in prices, we enter into a recession and we want to make sure that this cycle does not continue.
“And the only way we can do so is to diversify the economy by leveraging on ICT and moving the economy from being resource-based which it has been since independence,” he said.
He also added that it’s time Nigeria fully embrace ICT to enhance transparency and good governance in order to fulfill the ‘change’ mandate Nigerians voted President Muhammadu Buhari to bring about.
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“It is arguably one of the fastest growing sectors of the Nigerian economy and is the second largest ICT market in Africa.
“Industry analysts have extrapolated that ICT tools and devices, software solution, IT outsourcing and e-commerce sectors alone could employ over 40 million Nigerians and contribute billions of dollars to our economy,’’ he added.
