November 15. 2017

The Young Innovators of Nigeria (YIN) on Wednesday called for increased internet penetration and broadband access to create a digital economy.

The Chief Executive Officer of the group, Mr Andrew Abu, made the call in an interview with the News Agency of Nigeria (NAN) in Abuja.

Abu spoke of the need for the Federal Government to create an environment that would enable up-starts to thrive.

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“We are not where we want to be, but every day we try to edge towards making Nigeria a digitally driven economy.

“But it is only going to be a digitally driven economy if the young people play a vital role by developing solutions that will be of use to people at the grassroots.

“As at today, Nigeria has hit 21 per cent internet penetration rate; and that is low.

“To make Nigeria a digitally driven economy, we need to increase internet penetration and broadband access.

“We need to create an enabling environment by providing the necessary infrastructure because the average Nigerian innovator does not have a laboratory to develop their innovation.

“Finance has been an issue – that is seed funding for innovators; there is no innovation fund for universities which are supposed to drive innovation.

“A digital economy can only be achieved if we can synchronise stakeholders as the ecosystem is built based on collaboration.’’

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A digital economy refers to an economy that is based on digital computing technologies.

The digital economy is also sometimes called the Internet Economy, the New Economy, or Web Economy.

Abu noted that Small and Medium Scale Technology Enterprises (TSMEs) could add value to the economy if they were supported.

“Government should create an enabling environment; address the issue of double taxations from companies and pioneer start-ups for local ICT companies.’’

According to Abu, the group is working towards setting up a hardware and software laboratory in the FCT to serve as a platform upon which innovators could demonstrate their ideas.

The CEO advised young innovators to make their innovations to meet the requirements of the Sustainable Development Goals.