The Fourth Industrial Revolution can unleash massive revenue and wealth for Nigeria – Danbatta

Prof. Umar Garba Danbatta, the Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC) has stated that the fourth industrial revolution (4IR) or digital age promises greater revenue-earning potential and wealth creation for Nigeria in the post-oil era.

This statement was made by Danbatta during the presentation of a paper titled: “Ethical Leadership as an Instrument for National Sustainability in the Post-Oil Nigerian Economy: A Public Sector Perspective” at a two-day hybrid (online and onsite) Annual Directors Conference (ADC) organised by the Institute of Directors (IoD).

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Danbatta stated that countries and societies have evolved by finding new ways of doing things to ensure economic sustainability, which has led to the first, second and third industrial revolutions.

In this regard, he pointed out that major constraints facing Nigeria in terms of the fourth industrial revolution include the inadequacy of digital skills, infrastructure deficit and enabling environment.

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The EVC of NCC emphasised that the 4IR is the information and digital economy age, which, if properly enhanced and exploited, can unleash a new phase of massive revenue generation and wealth creation for Nigeria in the post-oil era.

What they are saying

While speaking at the annual Directors Conference (ADC) organised by the Institute of Directors (IoD), Prof Danbatta said, “Currently, countries are exploiting the 4IR in order to diversify their economies. The fourth industrial revolution, which has also been referred to as 4IR or Industry 4.0, describes the age of intelligence and encompasses technologies like high-speed mobile Internet, Artificial Intelligence (AI), automation, the use of big data analytics and cloud computing.”

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However, he disclosed that for the country to tap fully into the gains from the fourth industrial revolution, there is a need for ethical leadership.

“This is because while natural resources such as oil, gas, and so on, are finite, data and information are infinite. Furthermore, the possibilities provided by the 4IR are limitless and can generate employment for Nigeria’s teeming youth population Therefore, in order to achieve economic growth using the 4IR there is the need for ethical leadership,” Danbatta added.