Nigeria must continue the transition towards Digital Economy

The Digital Economy Start Up Act is a far superior piece of legislation to the Petroleum Industry Act since it deals with the Digital Revolution that has now gripped the World.

Economist and Financial Analyst Johnson Chukwu disclose this on the TVC News Nigerian flagship Business Programme, Business Nigeria on Friday Afternoon.

Mr Chukwu described the Digital Space as the 4th Industrial Revolution where all the World major Economies are now headed.

He added that the Legislation is a pointer to the fact that Nigeria is transiting from the present analogue and Petroleum industry based Economy to the Digital Economy which is not only the present but the future.

The Petroleum Industry according to him is a dying industry and that Nigeria must quickly act to continue the transition to the Digital Economy Space.

Technology according to him is the next phase of human development which will aid interaction and help development across the world.

He also disclosed that the leading companies in the world with the highest valuation and market capitalisation are all Digital based a trend he said Nigeria needs to key into.

On whether Nigeria possesses the right infrastructure for the development of the Digital Economy Space, he said their is no Silver Bullet for the curing of all ills within the Nigerian Economy.

He however said the Digital Start Up Act has provided the regulatory, Legal and Environmental framework and an incentive system all in place.

Going further he said the act also provides the framework for the identification of a Digital startup but adds that Other needs that must be addressed going forward are the Judicial Challenges and Other issues that are not under the direct control of the Ministry of Communications and Digital Economy.

He however said the implementation of the act as it currently is will only take off from the inauguration of the next government with the President, Vice President and the Minister of Communications and Digital Economy all part of the board to implement it having less than 3 months in office.

Lagos has laid foundation for food security, production – Expert

The Lagos State Government has been commended for its long term planning in the provision of infrastructure for the Agric Sector like the Imota Rice Mill in Ikorodu.

Agric Expert, African Farmer Mogaji, disclosed this while speaking to TVC Mews Breakfast on Food Security in Lagos State on Friday Morning.

Mr Mogaji said the first four year tenure of the Babajide Sanwo-Olu led Lagos State Government has been used more or less to put structures in place to ensure food Security in Lagos is assured.

Speaking further on the Imota Rice Mill and Other such projects including the recently opened Food Hub around Epe, he said the design and working relationship established by the Lagos State Government on the Mill and Other such initiatives will ensure the sustainability and long term viability.

He said the Lagos State Government’s plans based on his experience as an Agric and Food Security expert will make the State food sufficient and considerably reduce Food Price Inflation.

He urged all residents of Lagos and Nigerians to start taking advantage of the platform created by the Sanwo-Olu led administration in Lagos.

He touched on the concept of what he described as hidden hunger which is the presence of the right quality of food within the food classes we have in the country.

He added that the level of post harvest losses by farmers in Lagos and by extension Nigeria has gotten better with about 60 percent reduction in losses over the last four years with the introduction of more varieties of food in the State.

He listed some of the initiatives championed by him and some other experts to include the Sweet Corn variety of Corn commonly consumed in the Western World whose cultivation was initially rejected by many when the move for its cultivation started four years ago but is now on the shelves of most supermarkets across the country.

He disclosed that the favourable policies by government has ensured that this has happened and will continue to happen with more of such initiatives.

On the Imota Rice Mill, African farmer Mogaji, said the Mill if it is operating for 16 hours a day will comfortably breach the 1 million bags of rice, he added that this shows that the State is now on the road to comfortably beat hunger, deprivation and want.

He said what the Lagos State Government, the Agric Sector, the farming and food production community should be working towards now is enhanced food production to ensure Mills such as the Imota Rice Mill and Other initiatives put in place like the Cold storage for perishable products in markets across the State.

According to him, several other products can be derived from Rice and Other Agric Commodities.

Going further, he said the Lagos State Government has put structures in place to ensure food sufficiency in Lagos and by extension Nigeria.

He also lauded the State Agric Ministry and the mix of Private and public sector experience possessed by its leadership.

On the Poultry sector, he said the challenges faced by the sector is enormous but Lagos has a comparative advantage in its production which he said will help in reducing the price inflation caused by Covid and Other associated issues like change of Policy at the Federal level.

He urged the Lagos State Government to ramp up efforts aimed at revamping the Poultry Sector in addition with what is currently being done which he described as top notch.

He said the Lagos State Government is now focusing on its comparative advantage in Vegetable production by seeking to become a world renowned Centre for production.

He added that Lagos and Netherlands has the same set of conditions with Lagos even having better in terms of availability of usable water and will make it easier for people to have easy access to vegetable and even fish production.