" ITREALMS: Economies build on innovative technologies thrive better says ATCON president - ITREALMS

Thursday, October 25, 2018

Economies build on innovative technologies thrive better says ATCON president - ITREALMS

The National President, Association of Telecommunications Companies of Nigeria (ATCON) Mr. Olusola Teniola, has said that economies build on innovative technologies thrive better than the old concept of mere agriculture, reports ITREALMS.

Contributing to the discussion at the 2018 WorldStage Economic Summit on the theme “New Sources of Economic Strength to Make the future Happen,” at the Event Centre of the Nigerian Stock Exchange (NSE) Mr. Teniola maintained that the development of the economy through the old concept of agriculture will not take the country far.

As said by him, for a culture of technology as demonstrated in the Information and Communication Technology (ICT) sector, it has become obvious for the promotion of science, technology, engineering and mathematics education in the schools.

This, he stressed will aid Nigeria to compete favourably in any area, “it must be up to date in innovation and technology.”

Equally speaking at the event, Mr Soji Adeleye, Chief Executive of Alfe City Institution, underlined the absence of leadership in the country which had resulted to the lack of progress.

For meaningful progress to be achieved, he said the leadership has to be aware of their responsibility to the society, not to just occupy space.

Mrs Oluyinka Omojolaibi, Senior Research Economist, Manufacturers Association of Nigeria (MAN) was also underlined the importance of government to formulate and implement policies that can move the economy forward.

She said government needed to do more in the area of the provision of infrastructure, machineries, cheap loans for the economy to be productive and competitive.

She said that would be crucial so that made in Nigeria products can be competitive in the local and international market.

Mr Segun Adeleye, President/CEO, World Stage Limited, the organisers of the summit observed that there was a convergence in the opinions of the experts at the forum in the area of application of technology to chat a new economic direction for the country.

“Going forward, the WorldStage Economic Summit 2018 theme was inspired to bring to the consciousness of stakeholders on the need to be on the driver’s seat of the economy and transit to a future of knowledge, competitiveness and prosperity,” he said.

“Our thinking is that the policy makers and the private sector should be looking at how to match the potential in the economy with new development around the world that focuses on the shape of things to come.

“At today’s summit, we want to explore how Nigeria will not be left behind in the fourth industrial revolution with focus on economic strength through the sub themes, Digital ecosystems to drive future growth; Developing the Agribusiness; The Blue Economy Option; The place of Artificial Intelligence in future growth; Blockchain Technology and the future; Science, Technology, Engineering and Mathematics (STEM) Education in Nigeria.

“In a global economy where tech companies like Microsoft, Google, Facebook are richer than all African countries put together, managers of the economy cannot continue to fake ignorance of the needful, that mineral resource will no longer be a major factor in future relevance and prosperity.”

He assured that the report of the summit would be made available to the government with the hope that it will become part of the valuable ideas needed to move the Nigeria’s economy forward.

Uj. N. Dominic/GEE

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