By Miriam Humbe, Abuja
Federal Government says technology, especially digital was deployed globally for economic diversification.
The Minister of Communication and Digital Economy, Prof. Isah Pantami said this at the 1st Economic Confidential Public Lecture and Book presentation on Tuesday in Abuja.
Themed: “Economic Diversification in an Evolving Cashless Society”, he said that countries that excelled in technology were leading globally in economic growth.
Pantami said such countries had diversified their economies through knowledge based economy.
”The economy of the world today does not depend on natural resources; countries are leveraging on their natural resources to build their knowledge based economy.
Pantani said: “Digital technology and digital economy are both knowledge based, particularly the trajectory of the first, third and fourth industrial revolutions”.
Chairman of the occassion, Mr Muhammadu Shehu said that diversification was eminent in economic growth.
He advised that Nigeria should “diversify or sink”.
Shehu, who is also the Chairman Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) said that the Gross Domestic Product (GDP) of the country did not come from natural resources but through taxes from the FIRS, amongst others.
He said that diversification was key in achieving economic growth.
He called for diversification in all levels of government for sustainable economic development.
Deputy Director, ICT in the Central Bank of Nigeria, (CBN) Muhammed Musa spoke on eNiara.
He described the eNiara as a legal tender meant to help deal with the challenges of cash transactions.
Musa said cash could facilitate illicit activities such as kidnapping and robbery amongst others.
He said that it was in respect to this that the CBN came out with the eNaira initiative.
He said: “The eNiara, which is digital, was not meant to replace the Niara but to help in day to day activities and to also achieve financial inclusion”.
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