As a result of dynamic nature of business environment across globe, digital transformation has become an imperative for sustainable business and economic growth.
This assertion was emphasised through papers presented by speakers during the unveiling of Mega Trade Fair 2023 Prospectus and Mini Exhibition, held at the University of Ibadan Hotels Conference Centre, Ibadan, Oyo State on Thursday,
The experts, aside agreeing on the imperativeness of digitalisation in business, before it can grow and transform to another level, also emphasised that as long as technology takes a back seat in any nation’s economy, the business development will remain static.
According to various speakers at the occasion, businesses need to digitalise in order to reposition themselves on the market and especially make their businesses as more efficient, attracting and profitable as possible.
At the event, attended by scholars, non governmental organisations, traditional rulers, businessmen, experts are also of the opinions that technology will help organisation to accomplish and provide world-class products (services, goods) allowing both extensive research, rationalisation of processes and excellent flow of information.
In his keynote address, the head, West Africa of CNBC and Forbes, Dr Adeleye Fabusoro urged the government to make the economy a digitalised one, to reduce emmigration of youths.
Fabusuro, speaking on the theme, “Digitalised Economy: A Smarter Market Place,” maintained that
digitalised economy would reduce waste, allow people to put their talents into good use and get commensurate reward for their ability.
According to him, if Nigeria wants to keep her youths and make them useful, they should be encouraged to embrace technology, digital knowledge and skills.
The economic digital expert said, “Instead of students’ loan alone, the government should also find a way to inject grants into technology so that people who are yearning for it can learn it. It is going to bring a lot of foreign exchange into the country, make people more sustainable and relaxed.”
In his presentation, Prof Gbenga Okunlola, who is the Head of Geology Department, University of Ibadan, and Chairman, Mining Roadmap Implementation Strategy Team of the Federal Government, spoke on the availability of mineral resources that could be harnessed for the next digital economy and low carbon revolution.
He however appealed to government to create an enabling environment for the exploration of the mineral deposits.
The geologist also called for the strengthning of institutions within the mining system.
According to him, “the work of the government in mining is to regulate and organise, not to go into the investment. They should open it up for people who want to invest so that if people get licences and they are genuine, they can attract investment.
“The oil industry is well regulated, you don’t find this scavenger mining in the oil industry. Once you have real guys coming in and they see that there are studies that are done,they will bring their money. It is the same thing we should do in the mining industry.
“For businessmen, mining itself is knowledge-based. If we do things properly, we can attract funds into the mining industry.”
In his own submission, the Chairman, Manufacturers Association of Nigeria (MAN) for Oyo, Ondo, Ogun and Ekiti States, Lanre Popoola, said that since the world has moved forward to economy digitalisation, the country has to be prepared.
Remarking that technology has stepped up, with everything changed, Popoola said “in Africa, it is still very slow, but we are getting there.
“Our youths are doing excellently well and can compete anywhere in the world. The only thing lacking is the encouragement we are not giving them, and that’s why we have this issue of emmigration.
“What we really need is encouragement and level playing field.”
He said that government alone could not drive digital economy, adding: “what we need is to encourage private sector participation to drive it and we are doing it.”
Speaking with newsmen, the Executive Director, Mega Trade Fair Nigeria, Delight Owoyemi, said the main focus of the Fair is to helping brands to get their products to everyone in the country.
“We found out there was a whole lot of gap between production and sales. That is where Mega Trade Fair comes in, so that with those efforts you are making to produce, we can give you a soft landing to selling your products,” he said.
Mr Awoyemi disclosed that 2023 Trade Fair, would come up between December 1 and 10, 2023 in Ibadan.
According to him, “This is the first time we are having 30 exhibitions in one. It has never happened in the country before and we are having people from different sectors of the economy to exhibit their products.
“The fair is targeted at ensuring that more production is taking place in the country and we can begin to explore from here rather than being the one importing all the time,” he added.
Owoyemi also canvassed for the inclusion of smart economy, which according to him makes digitalisation imperative for the growth of business.
He explained that Mega Trade Fair is ensuring that businesses are also taking the digital highway to sell their products.
The Mega Trade Fair 2023 prospectus was unveiled by the Baale of Ekotedo, Chief Taiye Ayorinde; Executive Assistant to Governor Seyi Makinde, Rev Idowu Ogedengbe and Fabusoro.
