The National Information Technology Development Agency (NITDA), has revealed that the COVID-19 pandemic has boosted the digital economy in Nigeria.

This, it added, also helped to accelerate the digital transformation journey faster, more dramatic, and disruptive, giving opportunities for a more convenient online presence with less disturbance.

The director-general, NITDA, Mallam Kashifu Abdullahi, who admitted this while making his presentation at the 8th Annual Instalment of the International Data Corporation (IDC), West Africa CIO Summit 2021, noted that the 2020 Economy Africa reports showed that by 2025, the value of internet economy in Africa will reach $180 billion, accounting for about 5.2 percent of the continent’s Gross Domestic Product (GDP).

He added that, by 2050, its projection is estimated to be $712 billion, about 8.5 percent of the continent’s GDP.

Themed: “Innovation Strategies Evolving on the Demand of New Realities s Exciting,” Abdullahi said: “innovation drives growth in the internet economy, the process of taking ideas from inception to impact inspired three digital capabilities; firstly, ubiquitous data which is used to make a decision and have information at your disposal anytime. “Secondly, unlimited connectivity particularly Internet of Things (IoT) which ease connectivity and learning things easily and lastly, massive computing processing power which has no limit to what can be processed.”

In Nigeria, the DG said, President Muhammadu Buhari, has laid the foundation for a digital Nigeria by expanding the mandate of the ministry of communications to cover the digital economy.

He said, in 2019, the ministry formulated a National Digital Economy Policy and Strategy (NDEPS) for a digital Nigeria, which serves as a laid down foundation to create and capture value from innovation in the digital economy.

“The Implementation of the strategies within two years has significantly impacted the economy with the digital sector being the fastest growing sector which helped the country out of COVID-19 induced session.

“Nigerian NDEPS primary implementer crafted the strategic roadmap and action plan SERAP  2021-2024 to articulate new strategies for the Nigerian ecosystem following the current aspirations of the government the new realities of today and the future demands,” he pointed out.