Sunday, September 8, 2024
23.5 C
Lagos

ITU Ranks Nigeria High in Digital Transformation Readiness

A new report of the International Telecommunication Union (ITU), has ranked Nigeria very high at 71 per cent, in comparative legal, policy and governance frameworks towards G5 – advanced state of readiness for digital transformation known as G5 with Germany, Finland and Singapore leading the global chart.

In the report conducted by the ITU, the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) and the Nigerian Communications Commission (NCC), and unveiled by Nigeria’s Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani in Abuja on Monday, Nigeria was ranked among Africa’s top seven BEMECS 5G Readiness Index, which represents the country’s readiness to deploy and adopt mass-market 5G networks.

Titled, Collaborative Regulation: Accelerating Nigeria’s Digital Transformation, and presented at the Digital Economy Complex, Mbora, Abuja by ITU’s Kagwira Nkonge, the report, among other things, presented a case study for ‘collaborative regulation review to assess and support Nigeria’s transition towards collaborative digital governance, evidence-based policy making and agile regulation in the digital economy”.

The report, which was presented to a cross section of key industry stakeholders including service providers, government agencies, representatives of multilateral institutions, West Africa Telecommunications Regulators Assembly (WATRA), Africa Telecommunications Union (ATU), among others, was also designed to complement existing cross-country benchmarks in which features of countries policy and regulatory environment are assessed.

The features of countries policy and regulatory environment are assessed according to the pillars of the Generations of Regulation frameworks which tracks telecom regulatory maturity towards digital transformation readiness, designated at G5 Advanced State of Readiness”, and for which Nigeria currently stands at G4.

Advanced State of Readiness is benchmarked against four critical levels of accomplishments which include national collaborative governance, policy design principles, digital development toolbox, digital economic policy agenda, with Nigeria scoring 91 per cent in regulatory capacity; 82 per cent in Market Rules; 81 per cent in Collaborative Governance; 76 per cent in Legal Instruments for ICT/Telecom markets; 69 per cent in National Digital Agenda Policy, among other benchmarks.

Tijani, in his remarks at the event, commended the ITU and partner agencies and consultants that actualised the report; and expressed Federal Government’s commitment “to utilise this report as a navigational aid towards attainment of our regulatory objectives and policies outlines towards achieving a robust digital economy”.

“That is what we will continue to do as a government, ensuring that we can put ourselves in a place to have cutting-edge modern regulations in place to ensure that business is done properly in our sector and to ensure that, where possible, increase the local content of the sector as well,” he said.

Tijani noted that NCC has adapted over the years in response to how its role and mandate have changed.  He explained, “Fifteen, twenty years ago, NCC was just regulating the telecommunications sector, today, NCC regulates the foundation for which any economy would be prosperous.”

The Executive Vice Chairman of the NCC, Dr. Aminu Maida, who hosted the presentation, welcomed the indicators that promote effective regulation, attraction of greater investment, and development of innovative models for broader digital inclusion.

He emphasised that collaborative regulation would support Nigeria’s transition towards effective digital governance, evidence-based policy making and agile regulation in the nation’s digital economy.

The ITU Report can be accessed through the link: https://www.itu.int/hub/publication/d-pref-them-33-2023/

spot_img

Hot this week

‘NNPC Not the Sole Offtaker, Market Open to Lower Prices from any Domestic Refinery’

The attention of the NNPC Limited has been drawn...

NAICOM Boss Visits Aviation Minister to Discuss Issues of Industry Growth

The Commissioner for Insurance and Chief Executive of the...

$1tn Economy: Experts to Discuss Insurance, Pension Impact at NAIPE Confab

The Nigerian Association of Insurance and Pension Editors (NAIPE)...

Guinea Insurance Reports ₦477.7m Profit in FY 2023

Guinea Insurance Plc has reported a significant 49.4% increase...

Polaris Bank, NCF take Tree Planting Initiative to Kano State

Polaris Bank Limited has taken its tree planting initiative...

Topics

Global Travel Industry Sees Optimism in Post-Covid 19 Recovery

The International Air Transport Association (IATA) and Tourism Economics...

CBN Bars UBA, First Bank, FCMB from Forex Transactions

The Central Bank of Nigeria yesterday barred United...

NCC Holds Maiden Campus Conversation at Abuja Varsity

Following the re-structuring and re-branding of its existing consumer...

Online Voting Commences for Nominees of Nigerian Healthcare Excellence Award 2023

Online voting has commenced for the Nigerian Healthcare Excellence Award...

‘Oando Co-operating with SEC on Investigation’

Oando Plc says it is actively co-operating the Securities...

Retail Index: Nigeria Drops to 4th Position in Africa

The 2015 African Retail Development Index released recently revealed that Nigeria dropped from Number 2 position in Africa to Number 4, though it remains a market to consider on the continent. Indeed, the report reveals the most attractive retail markets on the continent and discusses the growth of the middle-class in Africa, increased consumerism, the spread of malls, land being taken up for development for retail purposes and Sub-Sahara’s young and connected middle class that is growing fast and still deciding on its favourite brands.

Scatec Solar Secures 100 MW Solar Project in Nigeria

Scatec Solar has signed an agreement with CDIL, a...

How African Alliance Paid N1.3bn Claims in Oct/Nov 2020

Mrs. Joyce Ojemudia Managing Director/Chief Executive Officer African Alliance Insurance Plc African...
spot_img

Related Articles

Popular Categories

spot_imgspot_img