Nigeria: ‘Technology Pivotal to Economic Growth’

Experts have stressed the need to embrace technology advancement, saying it is essential for economic and personal growth.

Also, Alliance Law firm has released an ‘Ease of business in Nigeria manual,’ to guide businesses both local and international on how best to conduct businesses in the country.

This was disclosed at an annual lecture series which was organised by Alliance Law Firm, where experts gathered to discuss on how to leverage technology to develop and rebrand Nigeria, at an event that took place in Lagos, recently.

Speaking at the event, the Chairman, Zinox Technologies Limited, Mr. Leo Stan Ekeh, said lack of data could affect planning.

According to him, the country was still grappling with challenges that needed to be addressed such as poor electricity supply, poor access to good water, bad roads, among others.

He said: "If you do not have data, how can you plan? This is the major problem of this country and it needs to be addressed."

Speaking on what prompted the firm to organise the event, the Managing Partner, Alliance Law Firm, Uche Val Obi, said technology was causing disruption in the financial sector.

He added: "The theme of the lecture is relevant considering the disruptive and pivotal place of technology in Nigeria’s quest for economic advancement, nation building and positive image profiling."

Commenting further on the ease of doing business manual, he said: "We have produced the doing business in Nigeria manual, we had the first one done 10 years ago and we have updated this version making it more user friendly.

"It would help explain and understand things for start-ups, established businesses both local and international. The firm did this whilst leveraging in our vast experience."

On his part, the Managing Director Ecobank Nigeria, Patrick Akinwuntan, said leveraging technology for the growth of Nigeria was not only applicable to banks, but also for all stakeholders in the country.He said, "The banking industry would do so much in leveraging technology to rebrand Nigeria, but for us as a nation, it is important that we leverage the opportunity that technology brings to the table. "For us in banking, we have the BVN and there 40 million customers with BVN today so the issue of who is a valid customer is getting eliminated and was achieved through technology."

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