President Muhammadu Buhari has called on world leaders to come up with
proposals to create a digital world that is accessible, inclusive and safe
to all.
In his keynote speech at the 2019 Annual Investment Meeting (AIM) in Dubai
on Monday, President Buhari said a certain level of regulation was needed
to preserve the integrity of the digital economy.
The theme of the summit is: ‘Mapping the Future of Foreign Direct
Investment: Enriching World Economies through Digital Globalization.’’
Acknowledging that digital globalisation is transforming the world almost
every day with innovations and transformative ideas, the Nigerian leader
cautioned that the cyber world would remain a constant threat if left
unregulated.
The President decried the use of the cyberspace to manipulate elections,
subvert the democratic rights of citizens as well as propagate violence.
He also lamented the steady rise in fake news and cybercrimes,
particularly when platforms are hijacked and manipulated by criminals.
President Buhari, therefore, called for collective efforts led by both
public and private sector leaders to address the emerging threats of
digital globalisation.
‘‘Today, we have a cyber-world that is intangible but real. This
borderless world is powerful, and it impacts the lives of billions of
people, no matter how remote their physical locations are.
‘‘People work in it. People socialise in it. And people invest in it. This
presents enormous opportunities. But it also remains a constant threat if
left unregulated.
‘‘On the one hand, it has made the human race more productive and more
efficient. Today, we have digital banking, virtual currencies and many
social platforms that connect people and cultures.
‘‘On the other hand, we have seen platforms hijacked and manipulated as
evidenced by the steady rise in fake news and cybercrimes.
‘‘More recently, we are also witnessing the use of the cyberspace to
manipulate elections, subvert the democratic rights of citizens as well as
propagate violence.
‘‘In effect, the digital world has become the new frontier for both good
and evil. Therefore, the challenge for world leaders must be to ensure
that this space is inclusive, accessible and safe,’’ the President told
the ninth edition of AIM, attended by world leaders in both the public and
private sectors.
The President used the occasion to reflect on the digital revolution in
Nigeria, buoyed by impressive statistics on mobile phone penetration,
technology hubs and the advent of young entrepreneurs attracting
investments of over 100 million dollars to the country.
His words: ‘‘In Nigeria, our mobile phone penetration exceeds eighty per
cent. This means the majority of Nigeria’s one hundred and ninety million
citizens are fully connected to this new digital world; especially our
youth.
‘‘Sixty-five per cent or one hundred and seventeen million Nigerians are
under the age of 25 years. These bright minds are the drivers of this
emerging digital sector.
‘‘Today, Nigeria has close to ninety technology hubs and every day, new
ones are coming up and they are all developing solutions for Nigerian, and
indeed global problems.
‘‘Already, these young entrepreneurs have attracted investments of over
one hundred million dollars. A sizeable amount from overseas including
Silicon Valley.
‘‘As many of you from this region are aware, Nigerian start-ups always
have a very impressive outing at the Gulf Information Technology
Exhibition (GITEX). Many have won prizes.’’
President Buhari told the investment summit that as leaders in the public
and private sector it was their responsibility to create the enabling
environment for young people to flourish and reach their full potential.
He shared the Nigerian experience:
‘‘When we came in 2015, we immediately agreed that any future economic
growth must be inclusive. As the Nigerian youth population is fully
digitalised, it is clear that the idea of having an inclusive economy
cannot be achieved without digital inclusion.’’
The President announced that Nigeria was working on creating the largest
digital database in Africa, with over thirty million Nigerians and legal
residents already captured in the country’s digital identity system.
Also, the President highlighted that Nigeria’s public sector reform
programmes, from procurement to payroll to revenue collections, focus on
digitising key operations.
He said the recourse to technology and digitisation reinforces the
administration’s objectives of improving efficiency, accountability and
transparency in governance.
On cybersecurity, President Buhari said Nigeria has taken the lead in
cyber policing in West Africa, working with regional and global partners.