The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta has posited that there is the need for ethical leadership in order to realise the dream of economic growth using the fourth industrial revolution, also known as 4IR.
The NCC Boss posited this while delivering a speech at the 2020 Hybrid (ONLINE/ONSITE) Annual Directors Conference (ADC) organised By The Institute Of Directors (IoD) two days ago.
Describing the 4IR as the age of intelligence and encompasses technologies like high-speed mobile Internet, Artificial Intelligence, automation, the use of big data analytics and cloud computing, Danbatta noted that 4IR is the evolved new ways of doing things to ensure economic sustainability.
“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,” he emphasised.
He explained that the 4IR is the information and digital economy age which if properly enhanced and exploited can serve as a major revenue earner for the Country in the post-oil era. This is because, according to him while natural resources such as oil, gas, etc are finite, data and information are infinite.
He however highlighted the major constraint in Nigeria facing the 4IR to include the inadequacy of digital skills, infrastructure deficit, enabling environment and inadequate infrastructure.
Speaking on what government is doing to address these challenges, the former University lecturer disclosed that the Federal Government in its bid to ensure economic growth and sustainability has collaborated with the Nigerian Economic Summit Group (NESG) to discuss issues and challenges facing the development of Nigeria with a view to developing and harmonizing ideas towards diversification and sustaining the economy.
In addition, the National Sustainability Committee chaired by Vice President Yemi Osinbajo, developed a National Economic Sustainability Plan (NESP). The plan is aimed at overcoming the challenges posed by the COVID-19 pandemic, enhancing oil and non-oil revenues, creation of a financial stimulus package for the Nigerian economy, support for MSMEs and the creation of jobs.