Information and Communications Technology (ICT) and the Nigeria’s Digital Economy, Regulations and Challenges
- Country : Nigeria
- Subject : Computer Science and Informatics
Information and Communication Technology (ICT) is becoming an essential part of the trade in managing the business flow in Nigeria. It stimulates the global market and overall shift in economic growth. This development is known as ‘digitalization’ and is now a veritable tool for trade globalization. This paper took a critical look at policies and regulatory frameworks of Information and Communications Technology and the challenges of the Nigeria’s Digital Economy. Policies and regulations in the ICT sector significantly affect the overall digital economy output. The Federal Government should review and unify conflicting ICT policies and regulations to avoid duplication, inconsistencies and conflicts arising therein. Other challenging factors that hamper the development of the Nigeria’s digital economy include, but not limited to: poverty, lack of required digital skills, social vices, inadequate infrastructure development, poor standard of living/low income and low education level. We have also identified some measures to ameliorate the identified challenges, which include: creation of jobs and digital skills acquisition and training by well-meaning individuals, government and private establishments, thus, reducing poverty and digital skills gap; enact laws and regulations that directly affect the digital economy and reduce crimes using the Internet; encourage local content and indigenous applications written in both English and local languages, while accommodating persons with low literacy level. If these solutions are religiously implemented, we make bold to conclude that the digital economy offers Nigeria’s most hopeful path to shared prosperity.