Business
NITDA stresses data as “lifeblood” of Nigeria’s digital economy
The National Information Technology Development Agency (NITDA) has emphasized the pivotal role of data in accelerating Nigeria’s digital economy and announced plans to establish Innovation Nests in nine states by 2025 to support indigenous tech startups.
Speaking at the 2024 Digital Nigeria Innovation Challenge in Abuja, NITDA’s Director-General, Mallam Kashifu Inuwa, described data as “the new oil and lifeblood of the digital economy,” highlighting its transformative potential across key sectors such as healthcare, security, education, and agriculture.
Inuwa, represented by Mr. Oladejo Olawumi, Director of IT Infrastructure Solutions, underscored the reusability and inexhaustibility of data, stressing its ability to drive societal change when effectively leveraged.
“Data is the new oil and lifeblood of the digital economy. It is reusable and inexhaustible, and you can have access to it if given the licence. Leveraging data for societal change will drive us across many sectors like healthcare, security, education, and agriculture,” he stated.
Inuwa also stressed the importance of data sovereignty—ensuring data security and privacy to build a thriving digital ecosystem. He emphasized that protecting local data assets is vital for creating opportunities for individuals and businesses, enabling Nigeria to achieve global competitiveness in the digital economy.
“The issue of having something home-grown is very important because when it comes to data, you would realise that data is the currency of the digital economy. It is what is driving us now, and everything is all about data,” he added.
As part of its efforts to foster indigenous digital innovation, NITDA revealed plans to establish Innovation Nests in nine states by 2025. These hubs will provide startups with workspaces, networking opportunities, and collaboration platforms to engage with investors and industry experts.
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The initiative aligns with the agency’s Strategic Roadmap and Action Plan (SRAP) 2.0, which focuses on empowering local innovators and positioning Nigeria as a global leader in the digital economy.
Inuwa encouraged participants to leverage the Nigeria Startup Act (NSA), which offers funding, mentorship, and connections to angel investors to help startups commercialize their innovations.
Ms. Victoria Fabunmi, National Coordinator of the Office for Nigerian Digital Innovation (ONDI), reiterated NITDA’s commitment to advancing digital innovation through strategic initiatives.
She highlighted that the Digital Nigeria Innovation Challenge aligns with SRAP and supports the Ministry of Communications and Digital Economy’s blueprint pillars of Knowledge, Innovation, and Policy.
Meanwhile, Prof. Kingsley Nwozor, Dean of the Faculty of Physical Sciences at Chukwuemeka Odumegwu Ojukwu University, praised the federal government’s efforts to use data in addressing national challenges.
Citing the COVID-19 pandemic as an example, he noted that Nigeria effectively leveraged data through the NCDC’s microsite to disseminate updates on cases, testing locations, and vaccination progress.
“During the pandemic, for instance, Nigeria used the National Centre for Disease Control’s COVID-19 microsite to share cases, updates, testing locations, and vaccination progress,” Nwozor remarked.
With its strategic focus on data, innovation hubs, and policy frameworks like the Startup Act, NITDA aims to drive Nigeria’s transition into a leading digital economy.
The agency’s initiatives reflect a long-term vision to unlock the potential of local talent, address societal challenges, and attract global investments into Nigeria’s tech ecosystem.