NITDA calls for adaptive, inclusive regulations to boost digital economy

Kashifu Inuwa Abdullahi, Director-General, National Information Technology Development Agency (NITDA), has emphasised the need for adaptive, inclusive, and forward-thinking regulations to foster innovation, build sustainable tech ecosystems, and position Nigeria and Africa as a global player in the digital economy.

Abdullahi, who was represented by the Agency’s Director of Stakeholders’ Management and Partnership, Aristotle Onumo, spoke on the ‘The Role of Regulatory Frameworks in Accelerating Digital Innovation Across Africa” at a two-day ISF Summit 2024 held in Ibadan, the Oyo State Capital.

He however underscored the importance of aligning regulatory frameworks with emerging technologies to unlock opportunities for startups, investors, and tech enthusiasts across the continent.

BusinessDay reports that the summit that was convened by the Chief Executive Officer, Zeeh Africa, David Adeleke, brought together investors, entrepreneurs, ecosystem builders, business operators, and policymakers from different Countries in Africa. They shared insights, appraise successes, and initiated collaborations on transformative projects that could drive economic and technological advancement in Nigeria, and other African countries.

Read also: How NITDA is using technology to accelerate economic growth

The convener of the summit, David Adeleke, hoeever identified lack of collaboration as one of the factors against business start-ups in Nigeria and Africa, saying: “If we join together, we could make a lot of progress. Our track record so far is we’ve been able to attract investors all over the world, includingJapan, and United States of America.”

He added that the partnership had brought about US$250,000 grant for business startups and each of the lucky beneficiaries would have access to US$10,000 grant.

Felicia Tamuno, the Head Commercial Banking (South), Lotus Bank said: “We found out that technology is seriously disrupting the business environment, making processes efficient and customers taste in businesses is also changing. So, as a business owner, without innovative information and ideas, you cannot thrive.

“As a business person, you have to ensure that you keep growing, reviewing models because things are changing everyday. In business, you change models, come up with something better.”