The Minister of Communication, Innovation and Digital Economy and the Lagos State Governor are confident that technology and innovation holds the key for employment in the creative industry of Nigeria.
The Minister, Dr Bosun Tijani, and the Governor Babajide Sanwo-Olu both spoke at the Art of Technology (AOT) Lagos 5.0 Conference with the themed ‘The Creative Economy and a Digital Lagos’.
Harping on the impact of technology and innovation on Lagos, Sanwo-Olu said: “The smart city initiatives implemented in Lagos have not only improved the efficiency of public services but have also significantly elevated the overall quality of life for residents. The discussions at the conference are expected to pave the way for a threefold increase in the value of the creative ecosystem, further cementing Lagos’s position as a leading technological hub.”
According to him, Lagos is already enjoying the impact of technology and innovation, saying that the impact of technology on the city’s development has been profound, resulting in a remarkable 500% increase in productivity across sectors such as agriculture and manufacturing over the past decade.
Speaking on the Lagos Innovation Bill, he said the Bill would become law in 2024 saying that it would strengthen and catalyse innovation in Lagos states.
And the Minister shared insights on the collaboration between the federal and Lagos state governments to boost the creative sector using technology.
The Lagos State Commissioner for Innovation, Science and Technology, Mr Tubosun Alake in his welcome address shed more light on the Data Protection Act, saying, “There is actually a law and a policy to enable data protection techniques, strategies for different organizations, and we’re not stopping there. There are cybersecurity SOCs (Security Operational Centers). right now SOCs protect company assets, IT assets, protect data, cloud, and infrastructure. These are being built by CBN, NCC, and even Lagos state.”
“Nigerian Data Protection Act mandates that citizens data be stored in the country. So it’s not stored in other countries that way there’s data sovereignty and rights, and we own our data. There are penalties for data breaches. Or data hacks. So, there are already certain things to enable the ecosystem to implement data protection procedures. So in terms of when you are sharing your data, for instance, banks have your data, they implement quite stringent data protection and cybersecurity protocols so that your data does not get into the wrong hands. So there is some architecture already. it needs to be strengthened.”
He noted that the Lagos Innovation Bill is a continuation of the work that the federal government did in the Startup Acts.
Alake said: “Now, the thing is that each state has to localise it if it is going to be effective. Our localisation efforts are called the Lagos Innovation Bill. We are renaming it because our focus is on innovation. Why is our focus on innovation, we think that is what will create economic value and economic growth. So the innovation bill seeks to incentivize innovation at the startup level, or the corporate level, or the medium-sized level and at all levels.”