Digital Economy Regional Conference
The Federal Ministry of Communication and Digital Economy is organizing the Digital Economy Regional Conference that aims at Positioning West Africa’s Digital Economy for the Future.
Governments and businesses around the world are paying ever increasing attention to the digital economy of their countries in particular and the world in general. This is due to the recognition of the impact of the digital economy on economic growth and its potential to facilitate economic recovery in a post Covid-19 era. The global digital economy is estimated to be about 16% of the global gross domestic product (GDP) and in the past decade, it has been growing at 250% the growth rate of the global GDP.
The digital economy, which is an aggregation of the activities that result from billions of online connections among people, businesses, devices, data, and processes, serves as a catalyst for the growth of different sectors of the economy. According to the World Bank’s Digital Economy Diagnostic Report for Nigeria, a robust digital economy requires a simultaneous focus on the following pillars- digital infrastructure, digital platforms, digital financial services, digital entrepreneurship and digital skills. The growth of the digital economy is also fueled by the rapid growth of data and the sustainability of the digital economy requires the promotion of efforts that support data protection and privacy.