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Tag: Economy

Technology as a national strategy in Nigeria

April 13, 2021
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| Business, Thoughts
Yele-Thoughts-March2021

If Nigeria decides to base the National Strategy on the production of gas because, we know, oil is dwindling and dying, then we can create an eco-system around gas production. That ecosystem will be driven totally by technology. We can create lots of intellectual property around it from the extraction to everything; to the transportation by pipelines, monitoring it and all the likes using the software specifically designed and implemented. The caveat here is that there has to be that desire for development, as understood by economists. There is a dichotomy between growth and development. One can factually state that the economy is growing and there is no development. An economy growing without development can be liken to a tree with a lot of leaves but no fruits. When we have real growth, we expect to see development. If we...

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Posted in Business, Thoughts Tagged Economy, Nigeria, Software, Strategy, Technology Leave a comment

IT to replace the Oil Economy

February 6, 2019
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| Business
IT can replace Oil-and-Gas-Okeremi

One of the industries that the Federal Government of Nigeria (FGN) hopes to develop is the IT industry. The action word is ‘hope’. It is presumed that the IT industry is not just able to create an economy of affluence; it could generate employment for the teeming youth in the country. For the IT industry to become an alternative to the very prominent oil sector, its capacity needs to be enhanced and investments to the industry encouraged. Consequently, it is necessary to understand the factors that make IT entrepreneurs thrive and ultimately increase their numbers. This is despite the lack of structures that are taken for granted in America and Europe. This makes it pertinent to contextualize the development of successful IT entrepreneurs in an environment that does not have facilitating institutions that have helped the development of IT entrepreneurs...

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Posted in Business Tagged Economy, Entrepreneurship, IT, Nigeria, Oil Leave a comment

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