Digital economy, way to go in driving innovation, competition, says LCCI
By Eberechi Obinagwam
Lagos Chamber of Commerce and Industry (LCCI) has urged the government at various levels to formulate policies that create a vibrant innovation ecosystem that support the deployment of more technology and the creation of more jobs in the technology sectors.
The president, Lagos Chamber of Commerce and Industry (LCCI), Michael Olawale-Cole, stated this at the ninth edition of the chamber’s Information Communication Technology and Telecommunication (ICTEL) Expo on Tuesday held in Lagos with the theme: “Tech disrupt: Transforming Industries with Innovation”
According to him, with sound regulations, policies, and governance, the digital economy can create new possibilities and economic opportunities for businesses and investors, “Governments and organizations must leverage technology for innovation, competitiveness, and resilience in the face of risks and uncertainties,” he said.
He also noted that with technology having more relevance in the business world, the sector is fast becoming the fastest-growing sector in the non-oil sector of the Nigerian economy.
Olawale-Cole disclosed that the group is ready to lend necessary support to the actualization of the goals set out by the government to build and sustain a robust and supportive digital economy.
He explained that the digital economy or the internet economy enables and supports various business, social, and government activities through electronic commerce, lifestyle apps, and e-government platforms, respectively.
According to him, the digital economy is considered the single most important driver of innovation, competitiveness, and growth.
