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Home»Business/Economy/Banking & Finance»ITU ranks Nigeria high in digital transformation readiness [READ REPORT]
Business/Economy/Banking & Finance

ITU ranks Nigeria high in digital transformation readiness [READ REPORT]

ITU ranks Nigeria high in digital transformation readiness [READ REPORT]
EditorBy EditorJuly 26, 2024Updated:July 26, 2024No Comments2 Mins Read
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The International Telecommunication Union (ITU) has ranked Nigeria highly, scoring 71% in comparative legal, policy, and governance frameworks for digital transformation readiness, known as G5. This advanced state of readiness sees Germany, Finland, and Singapore leading the global chart.

The report, conducted by the ITU, the United Kingdom’s Foreign, Commonwealth and Development Office (FCDO), and the Nigerian Communications Commission (NCC), was unveiled by Nigeria’s Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, in Abuja on Monday.

Nigeria was ranked among Africa’s top seven in the BEMECS 5G Readiness Index, which represents the country’s readiness to deploy and adopt mass-market 5G networks.

The report presented a case study for “collaborative regulation review to assess and support Nigeria’s transition towards collaborative digital governance, evidence-based policymaking, and agile regulation in the digital economy.”

It was presented to key industry stakeholders, including service providers, government agencies, representatives of multilateral institutions, the West Africa Telecommunications Regulators Assembly (WATRA), and the Africa Telecommunications Union (ATU).

The report is designed to complement existing cross-country benchmarks by assessing countries’ policy and regulatory environments according to the pillars of the generations of regulatory frameworks, tracking telecom regulatory maturity towards digital transformation readiness, designated at G5 Advanced State of Readiness. Nigeria currently stands at G4.

Nigeria’s achievements in the report include:

  • 91% in regulatory capacity
  • 82% in market rules
  • 81% in collaborative governance
  • 76% in legal instruments for ICT/telecom markets
  • 69% in national digital agenda policy

In his remarks, Tijani commended the ITU, partner agencies, and consultants for the report and expressed the Federal Government’s commitment to utilizing it as a navigational aid towards attaining regulatory objectives and policy outlines for a robust digital economy. He emphasized the government’s dedication to ensuring modern regulations are in place to facilitate proper business conduct and increase local content in the sector.

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

Aminu Maida, Executive Vice-Chairman of the NCC, who hosted the presentation, welcomed the indicators promoting effective regulation, attracting greater investment, and developing innovative models for broader digital inclusion.

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

Access the ITU report HERE.

QED

Digital transformation ITU Nigeria
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