‘Federal Government committed to smart economic projects’

The Minister of Industry, Trade and Investment, Dr. Okey Enelamah says the Federal Government is committed to supporting smart digital economic projects that will positively influence the lives of the people and make the country globally and technologically relevant.

Enelamah who spoke at the opening of the first national FinTech conference in Lagos yesterday, said digital economic projects is basically an inter-governmental project by the present administration to create the right enabling environment for technology to thrive and encourage the people in the sector with necessary support.

According to him, the start-ups and businesses, which have the capacity to improve the living standard of the people, remains the focus of government, adding that financial technology is one of the impressive dimensions of technology to leverage on.

The minister said government is working on the new initiative called “smart Nigeria digital economic project” which will promote the creativity of the people, build their potentials, improve broadband connectivity, implement policies that will support digital economy, enhance regional and national integration as well as attract more investment for the country.

According to him: “Nigeria has a lot of entrepreneurial energy and one of the dimensions of such energy is what we have seen in the development happening in the technological space. It is a way to leverage technology, deal with money transfer and all kinds of financial transactions. I am impressed that the FinTech conference is holding in Nigeria only two-weeks after the first world conference was held,” he said.

President, Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola said the conference is a good development for Nigeria as technology is defining and redefining virtually everything in the modern environment, noting that it is the only way banking system can keep pace and remain in tandem with global reality.

Ajibola observed that the conference will help Nigeria to benchmark international practices and replicate current global practices in the country hoping that the outcome will impact positively on business development especially the way and manner banking services are being conducted.

Group Chief Executive Officer, Ecobank, Ade Adeyemi said there is the need to figure out how to combine technology, banking and financial services to solve the challenge of financial inclusion, use technology to improve the ease of doing business in the country and take banking services to a lot of people at a price they can afford.

Chairman, FinTech Associate, Nigeria, Dr. Segun Aina, stated that the conference is drawing the attention of Nigeria towards leveraging on financial technology as being practiced in developed world, compare notes with experts from United Kingdom, Canada, Austria among others and see where they could help in the area of FinTech and digital development in Nigeria as well as put Nigeria on FinTech leadership map in Africa.



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