E-Business
Knowledge Economy Can Improve Nigeria’s Development
Knowledge sharing economy is definitely one of the potent ways to improve our current ailing economy.
All that this entails is to start engaging those that have succeeded and established themselves in various fields of endeavor and tap from their wealth of experience. We can then apply these to also achieve success in any area of life.
Knowledge-based economy serves as catalyst for individuals, governments, private and public organizations, to engage in accessing and asking relevant and important questions most pressing to them and getting answers in real-time to assist them in making better decisions that will enhance more productivity and provide the necessary guidance to achievements and success.
Why Knowledge-Based Economy?
Of note, knowledge-based economy has taken roots in countries such as Britain and Russia in Europe; America in the American continent as well as Singapore, Japan, China, India, North, and South Korea in Asia. These powerful economies of the world are distinguished when it comes to knowledge-based economy.
All of these countries have started to reap the benefits, having successfully applied this strategy. They have been able to process convergence, aimed at integrating conventional strategies and leveraging ICT to mass produce and commodify information and their cultures for sale to local and foreign consumers at a profit. These have worked for them, and we should just start kicking off from the fundamentals here in Nigeria.
According to Ogbonnaya Onu, Minister of Science and Technology, it has become clear that nations that desire to develop, modernize her economy and remain competitive, must embrace knowledge, especially scientific and technological knowledge.
Apparently, scholars of various schools of thought agree with several political leaders in recognition of learning as an important instrument necessary to unlock the doors of underdevelopment.
He goes on to posit that the need to move from resource-based economy to knowledge-based economy is needed more than ever before, considering the recent near collapse in crude oil prices that exposed the vulnerability of the Nigerian economy. This has occasioned the important and urgent need for Nigeria to diversify her economy to help her withstand any future shocks arising from the decline in commodity prices in the international market”.
Meanwhile, If you take a critical look at the concept of globalization, the concentration and conglomeration of mass producing knowledge, you will agree with me that they have taken control of the international market, using mass media such as books, radio, television, newspapers and magazines, digital materials and the Internet to promote international trade and politics.
Knowledge-Based Economy, how do we start?
Nigeria needs to use its oil proceeds to develop other sectors of the economy while also building a knowledge-based economy.
This was the submission of the former Vice- President & Treasurer of the World Bank, Arunma Oteh in an interview with CNBC.
“The reason I am very keen for us to focus on us being a knowledge economy is that I do think that our greatest asset is our people. A knowledge economy has four key elements.
The first pillar is a kind of conducive environment; your institutions, macro-economy, regulatory framework, but the second one focuses on education and skills and it is focused on people.
The third pillar focuses on innovation which is based on investing in your people and the aspiration to introduce new industries and new ways of doing business. The fourth is leveraging technology.”
Apparently, we can only be citing instances and examples from other countries because we are yet to do what other developed countries are doing.
Studies have shown that the success in the knowledge driven economies of the UK, Singapore and the US have been due in large part to the skilled workforce and human resources.
Virtually across all the sectors of their economy, all of their workers are more highly educated than any other country. In the technology industry, for instance, where everything concerning innovation is happening, the value of a company or its intangible assets resides almost entirely in the knowledge and creativity embodied in its patent and its staff. We can start to heavily invest in our workforce.
More importantly, investing in knowledge, skills and learning for all Nigerians should be a top priority.
With the challenges in the state of our educational system in Nigeria, there is the need to come up with the right policies, so that all its people can have access to high-quality education.
Although, the government had introduced the Universal Compulsory Education (UCE), much more still needs to be done.
It is not an exaggeration to say that the Nigerian educational system had been plagued by issues ranging from perpetual strikes by university lecturers, due in part to the non-regular payment or underpayment of salaries and a lack of adequate funding.
In this regards, a complete overhaul of the higher education system and an acute injection of resources is necessary to ensure that Nigerian universities can produce high quality and well-trained graduates who will be capable of competing with their counterparts around the globe.
The Role of Experts
What should be the responsibility of academics, experts, and professionals in encouraging the knowledge-based economy which we are advocating for?
The truth is that in this information era, millions of people are always seeking the right sources of information to enable them make critical and informed decisions daily. We have seen many websites in developed countries where experts identify themselves and are always ready to render their services to the public sector, private sector, and the government.
Now beaming the searchlight to Nigeria, If, as an expert, you have developed the required proficiency in any field over the years, it is imperative that you start making yourself available on different platforms. This is a collective responsibility; the experts are essential if Nigeria must adopt the knowledge-based economy.
For instance, we have the Ask an Expert App (www.askanepxert.expert) which is a new initiative, solely focused on enhancing knowledge sharing amongst Africans with a view to driving value-driven productivity starting in Nigeria where all experts in diverse fields could register and conveniently share their insights, knowledge and expertise to discerning members of the general public, the government or private institutions.
This type of platform has been able to successfully combine current successful global technology trends like on-demand and private messaging services as well as micro-blogging and expert network directory to give more value to people via real-time mobile or web live chat sessions.
Just like in other developed countries, it has made it very easy for Nigerians to connect, using technology to start knowledge sharing among communities of novices to experts, experts to experts, people to institutions and breaking geographical boundaries of accessibility nationally to help people solve everyday issues.
Conclusion
Knowledge remains the tool to unlock the impediments associated with underdevelopment. All government agencies and private citizens must seek and promote knowledge. In the same vein, experts in different fields of endeavor must make themselves readily available to support others to also succeed.
CFA is the Founder, www.CFAtech.ng & Co-producer/Presenter,Tech Trends on Channels Television
Africa’s leading technology distributor Powerhouse, TD Africa, has reaffirmed its commitment to advancing cybersecurity awareness and digital resilience by sponsoring the 3rd Annual Secure 360 Summit Nigeria 2026, hosted by global cybersecurity leader Check Point Software Technologies, as Gold Sponsor.
Chioma Chimere, Coordinating Managing Director, TD Africa
This year’s summit was held in Abuja and Lagos, bringing together key stakeholders from across Nigeria’s technology ecosystem.
Now in its third edition, the Secure 360 Summit has evolved into one of Nigeria’s premier cybersecurity forums, bringing together Chief Information Security Officers (CISOs), Chief Information Officers (CIOs), IT Directors, and senior technology leaders from the financial services, telecommunications, enterprise, energy, and public sectors to address today’s rapidly evolving cyber threat landscape.
Speaking on the significance of the summit, Kingsley Oseghale, Country Manager, Check Point Nigeria, emphasized the need for stronger collaboration in tackling emerging cyber risks. “Cybersecurity has become a business priority rather than just an IT concern.
“Through the Secure 360 Summit, we continue to provide a platform for industry leaders to exchange insights, strengthen partnerships, and explore innovative approaches to securing today’s digital economy.
“We are pleased to have TD Africa as a valued partner in driving cybersecurity awareness across Nigeria.”
In her remarks, Chioma Chimere, Coordinating Managing Director, TD Africa, applauded Check Point for creating a platform that addresses one of the most critical challenges facing businesses and individuals. “Cybersecurity is everyone’s business. We owe it to ourselves, our organisations, and our communities to remain security-conscious in an increasingly connected world.
“At TD Africa, innovation drives everything we do, and innovation can only thrive in a secure environment.
“This is why we are proud to support initiatives like the Secure 360 Summit that promote knowledge sharing and strengthen our collective cyber resilience.”
The summit featured expert-led sessions on emerging cyber threats, artificial intelligence, cloud security, ransomware, and strategies for building resilient digital infrastructures, equipping participants with practical insights to navigate today’s cybersecurity landscape.
Through its continued partnership with global technology leaders like Check Point, TD Africa remains committed to empowering businesses across Africa with world-class cybersecurity solutions, fostering industry collaboration, and driving the continent’s secure digital transformation.
President Bola Tinubu has directed the National Identity Management Commission (NIMC) to ensure that every Nigerian is enrolled in the national identity database before the end of 2026, according to Abisoye Coker-Odusote, director general and chief executive officer of the agency.
Abisoye Coker-Odusote, director general and chief executive officer, NIMC
Coker-Odusote, who appeared on Channels Television, said the directive forms part of the federal government’s efforts to establish a comprehensive national identity system capable of supporting effective governance, planning, and service delivery.
“The President has given us till the end of this year to make sure that we capture every single Nigerian,” she said.
According to her, NIMC is working with partners under the World Bank-supported Identification for Development (ID4D) project to accelerate nationwide enrolment.
“What we have done is we have partnered through the World Bank ID4D project with front-end partners. They are part of the digital identity ecosystem. These are private citizens that we’ve enabled and given jobs to enrol citizens on our behalf,” she explained.
She stressed that the National Identification Number (NIN) remains a unique identifier, ensuring that every individual is registered only once.
“That’s why it’s called a unique identifier, so that you’re only enrolled once,” the NIMC DG added.
Coker-Odusote said Nigeria’s actual population remains uncertain, with estimates ranging from 200 million to 250 million, making a comprehensive identity database essential for national planning.
“It is estimated that we’re 200 million. When we’re done enrolling, we will then know the actual numbers that we have. Some estimates say 230 million, while a few people say 250 million.
“Your identity is basically the foundation for effective governance and service delivery. How can you plan if you don’t know the total number of persons that you have? We have been mandated by Mr President to go down to the community levels to enrol every single Nigerian”, she said.
Responding to concerns about whether an individual could obtain multiple identities by registering in different locations or under different names, the NIMC boss said the commission’s biometric verification system prevents such occurrences.
She explained that while the previous system could accept duplicate enrolments before detecting them later, the current process automatically identifies and invalidates multiple registrations.
“The legacy system had no way of verifying at the front end whether you had already been captured. Once the record comes into the system, it flags it as a duplicate or that the person already exists in the database.
“You would only have one identity generated for you. The other record goes into a deduplication bucket where it is invalidated,” she said.
The NIMC DG added that biometric verification, including fingerprints and facial recognition, makes it virtually impossible for one person to maintain multiple identities.
“Absolutely. One of the things that this Act has done is to cement our role in capturing biometrics. Private and public sector organisations will no longer capture biometrics independently. They will validate identities through API integration with NIMC.
“The telcos are already doing that with us. If you need a SIM card, they capture your facial biometrics, which are matched against our database in real time to confirm that you are who you claim to be. We’re using biometric validation to tighten security around identity confirmation,” she said.
The remarks come weeks after Tinubu signed the National Identity Management Commission (NIMC) Act 2026 into law on June 26, repealing the 2007 legislation.
The new law reinforces the “One Person, One Identity” policy by making the NIN the country’s foundational identity credential for accessing government and essential private services, including banking, passport applications, tax administration, pensions, land transactions, and consumer credit.
It also introduces stiffer penalties for identity theft, multiple registrations and unauthorised access to personal identity data, while strengthening data privacy protections and granting NIMC wider powers to investigate identity-related offences.
Cybersecurity and privacy experts are raising concerns around the growing trend of sports fans using generative AI to create World Cup-related images, mock-ups, predictions and social media content.
Whilst offering new ways for supporters to engage with major sporting events, these tools also introduce risks that many users may underestimate. In light of this, Kaspersky has shared the key risks fans should keep in mind when using generative AI tools, so they can continue enjoying the championship with peace of mind.
When fan AI goes rogue. A growing number of AI tools are being used to create World Cup-themed visuals, avatars, memes and other fan content. While these services may seem creative and harmless, not all of them come from trusted providers.
Many are launched quickly to capitalise on interest around major events, increasing the likelihood that users will interact with platforms that offer limited transparency around data handling, lack adequate privacy and security measures, or might even be designed with malicious intent.
Personal data at stake. To create customised World Cup content, users are often asked to upload selfies, sign up with an email address, connect social media accounts or share other personal information. In doing so, they may reveal more information than necessary without fully understanding how that data will be stored, used, or potentially exposed.
“AI-driven fan content may seem harmless, but one of the key privacy risks is that users are often encouraged to share far more personal information than necessary. A simple request to generate a themed avatar can involve the collection of photos, contact details, account data and behavioural insights – information that may later be insufficiently protected.
“Because major global events often create an ideal environment for opportunistic actors, fans should take a closer look at how these tools manage personal data before engaging with them,” says Anna Larkina, web content analysis and privacy expert at Kaspersky.
When fan content becomes a scam. AI-generated World Cup content in some cases can also be used to support fraud. Cybercriminals may use convincing mock-ups, fake giveaways, or official-looking fan pages to attract attention and build trust. Once users engage, they may be redirected to phishing sites, fake stores, fraudulent offers, or betting-related scams. Generative AI makes these campaigns easier to produce, more persuasive and far easier to scale.
The myth of AI predictions. Another area that deserves caution is AI-powered match prediction. However advanced or data-driven these tools may appear, AI cannot reliably predict inherently uncertain sporting outcomes. When used to promote betting, paid subscriptions or “insider communities”, such services can create a false sense of confidence and encourage risky decisions.
Next Currency Crisis May Turn $300Bn in Stablecoins into National Currencies
NIHSA Warns States of Possible Flood within Seven Days
FG to Raise N1.2 Trillion via Fresh Bond Offer – DMO
Gigbanc Nigerian Fintech Startup Closes Shop after 3 Years
Mbunabo, Nigerian Filmmaker Accuses Ghana TV Stations of Pirating Nollywood Films
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
Nigeria Launches FreeTV Nationwide
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
News2 days agoXora Finance, Fintech Firm Refuses to Hire Nigerians over Alleged Dishonesty
Telecom2 days agoNCC Advances Dig Once Policy, Engages Stakeholders on Cost-Based Framework for Duct Sharing
Telecom2 days agoNCC to Keynote Telecom Sector Sustainability Forum 7.0
General News2 days agoFG Secures Fresh $208.3m World Bank Loan for Cash Transfer
News2 days agoHow Ponzi Scheme Victims can Seek Legal Remedies — Lawyers
News2 days agoPalmPay Nigeria Appoints Samuel Oluyemi as Chief Operating Officer
General News2 days agoSERAP Sues INEC over Alleged N800Bn 2027 Tinubu Campaign Fund
Telecom1 day agoMTN Nigeria Slashes Cost of Broadband Internet Router, Unwraps New Data Bundles for Low-Budget Users