The Managing Director and Chief Executive Officer, Nigerian Communications Satellite (NigComSAT), Dr. Abimbola Alale has said they are leveraging NigComSAT-1R to provide complimentary solutions for an effective digital economy.
Speaking at the 2021 Nigeria DigitalSENSE Forum series on Internet Governance for Development (NDSF) held in Lagos recently at Golden Tulip Essential Hotel, she said they are leveraging the NigComSAT-1R I by linking stakeholders, especially ones in the hinterland.
Alale who was represented by the acting General Manager, Marketing at NigComSAT, Mrs Ibiye Ukoko, dwelt on “The Role of NigComSAT on Digital Cooperation for Enhanced Digital Economy” said that the advantages of using the satellite in this case, include quick and fast deployment, cheaper infrastructure in less commercially viable areas as well as broadcast services.
She cited an instance with a crisis period, saying that since the unrest situation in Nigeria, NigComSAT has had to embark of journeys of critical areas to work and ensure connectivity is provided, back up services to serve and resultant speed, ubiquitous, equitable and affordable access to ICT infrastructure.
In addition, she said, NigComSAT is leveraging this satellite to promote access to basic and advanced telecom infrastructure and services; develop an enabling environment for ICT applications in other fields cutting across commerce, health, and education to name a few.
Equally, she said they have increased collaborative efforts within the private sector, civil society and government.
NigComSAT, she informed, is a satellite operator having launched the NigComSAT -1R satellite to offer connectivity solutions across its coverage areas. Stressing, this strong digital infrastructure has the capacity to provide effective connectivity across Nigeria and their regions.
“The internet has affected every aspect of our lives and this space is heavily dominated by the private sector, this is why the private sector needs to be heavily engaged as a stakeholder,” she said.
According to the NigComSAT boss, a digital economy speaks to a range of functioning and implementation. Noting that digitization of the Nigerian economy has so far created benefits and efficiencies as digital technologies drive innovation, job opportunities and economic growth.
“The Nigerian digital economy affects all aspects of society influencing the way people interact and bring about broad changes,” she said.
Alale also pointed out that Nigeria’s digital transformation is already having a great impact in the economy as it applies to the Gross Domestic Product (GDP) growth rate in comparison to other sectors.
“The ICT sector contributed 14.07% to the total real GDP in Q1 2020 higher than its contribution in 2019 at 13.32%. In Q2 2020, the sector contributed 17.83% increasing the amount contributed to about N1.78trillion and N1.28 trillion in Q1 while the oil sector contributed 8.93% in the same quarter,” she said.
Furthermore she said that Nigeria e-commerce transactions, for instance, accounts for about $13billion USD, according to London-based Economic Intelligence Unit (EIU). Whereas exports in the Nigerian financial service sector also estimated that Nigeria’s e-commerce market value could rise to $50billion over the next 10 years.
In addition, she said that financial technologies have also given rise to new ways of delivering financial services in Nigeria, while the use of technologies advance the efficiency of the payments systems and strengthen Nigeria’s e- commerce sector.
This, she emphasized further digitized networks and intelligent information and communications technologies enable modern economic activities to be more flexible, agile and smart.
“Further digital economy is allowing regional businesses to move away from the local and into the global, in keeping abreast with the long term trends towards market liberalization and reduced trade barriers.