Chairman of the House Committee on Federal Roads Maintenance Agency (FERMA), Engr. Aderemi Oseni has called for a transformative embrace of technology as a vehicle for addressing Nigeria’s socio-economic challenges.

Speaking at the weekend at the inaugural RAIN Tech Summit 1.0, themed “The RAIN of Transformation is Upon Us. CEOs Arise!”, Oseni emphasized the pivotal role of innovation and youth empowerment in shaping a prosperous future for the nation.

The event, which took place in Ibadan, brought together over 3,000 innovators, entrepreneurs, and key stakeholders from across Nigeria and beyond. It was organized by RAIN (Robotics and Artificial Intelligence Nigeria). The lawmaker lauded RAIN’s commitment to nurturing a skilled workforce and promoting technological advancements in robotics and artificial intelligence (AI).

“Innovation is not just a tool; it is a powerful change agent,” he remarked. “By developing our capabilities in AI and robotics, we can tackle pressing challenges like unemployment, health crises, and inadequate infrastructure. The work being done by RAIN is proof that we are on the brink of something extraordinary.”

Addressing the issue of youth unemployment, Oseni, who also represents, Ibarapa East/Ido Federal Constituency, highlighted the transformative potential of equipping Nigerian youth with technological skills, citing global examples, including India and China, where investments in technology education have significantly reduced unemployment and fostered economic growth.

“Imagine a Nigeria where every young somebody has access to training in AI and robotics,” he said.

“We can replicate the success of startups like Paystack and Flutterwave, which emerged from the ingenuity of young Nigerians, to build a future where our youth are creators rather than mere consumers of technology.”

Oseni further urged the government and private sector to prioritize investment in technology as a means of fostering innovation and creating job opportunities. He expressed optimism that Nigeria could become a hub for AI and robotics training in Africa, driving a rebirth of hope and creativity among its youth.

The FERMA House committee chair tasked the CEOs and key stakeholders to leverage technology as a catalyst for growth, transparent governance, and accountability. Oseni emphasized the role of AI-driven analytics in improving service delivery and resource allocation, thereby enhancing the quality of governance and business operations in Nigeria.

“To the CEOs gathered here, you are uniquely positioned to champion this cause. By embracing technology, we can transform small enterprises into formidable global brands and facilitate Nigeria’s emergence as a leader in the global tech ecosystem.”

The post Rep Oseni Pushes for a Tech-Driven Nigeria first appeared on MegaIcon Magazine.

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Themed “Navigating The Digital Transformation In The Media Industry,” the training aimed to equip online publishers with the skills to leverage new technologies in media.

The event was held in collaboration with the American Open University of Technology, Nigeria (ATECH) at its Global Campus in Bodija, Ibadan.

Dr. David Akanbi, the Campus Director, facilitated the session, offering practical insights into how emerging technologies are transforming the media landscape.

Akanbi highlighted key technologies such as Artificial Intelligence (AI), Virtual and Augmented Reality, Blockchain, and 5G networks, which he said are reshaping how news is produced, distributed, and consumed.

“These technologies are revolutionising media by creating new ways for publishers to engage with their audiences,” Akanbi noted.

He encouraged the participants to embrace these innovations to improve their businesses and positively impact society.

In a post-training discussion, Akanbi shared his motivation for the session, emphasising the importance of knowledge-sharing for societal development.

“If knowledge is not shared, it is wasted. Sharing knowledge is like planting a tree, and by spreading what we know, we contribute to a better society,” he said.

The training also featured a presentation by Mr. John Abayomi, Founder and Chief Strategist of Virals.ng, on Search Engine Optimization (SEO).

Abayomi stressed the importance of SEO in achieving visibility in an increasingly competitive digital space. He advised online media practitioners to master SEO tools and techniques to enhance their reach and effectiveness.

“Success in online journalism is not determined by when you start, but by how well you apply SEO strategies,” Abayomi explained, urging SWEGOP members to adopt various SEO applications to boost their work.

Both facilitators noted the critical role of technology in modern journalism, while also stressing the importance of maintaining integrity on digital platforms.

In his remarks, Mr. Olayinka Agboola, Chairman of SWEGOP, described the training as part of a series of initiatives aimed at improving the skills and expertise of its members in the digital media space.

He commended the management of ATECH for their support, applauding Dr. Akanbi for his contributions to the success of the training.

The post S’West Online Publishers Train Members on Emerging Tech in Media Industry first appeared on MegaIcon Magazine.

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Considered one of the world’s most significant and accessible investment opportunities, the opportunity in the country has long whet the appetites of the world’s capital movers; however, for many, the opportunity has been missed or misjudged to a lack of relevant, actionable and useful data.

A ROBUST RETAIL SECTOR

One of the emerging thought leaders in the field is Ali Djire, the country head of Fraym, who believes that embracing a data-driven approach to retail will prevent further Nakumatt styled retail implosions. In a market under pressure with retailers struggling with underperforming new locations due to steep competition and a lack of critical consumer mix, access to data is increasingly transforming the fortunes of companies in the sector.

Says Djire, “The need for a data-driven approach is becoming an imperative for retailers to not only inform what products to carry on the shelf, but also to get unprecedented insights into where to locate their stores, how to price based on ability to pay, and how to respond to competition.”

RETAIL’S GROWING VALUE TO THE NIGERIAN GDP

According to Djire, retail currently accounts for 16% of the Nigerian GDP and is viewed by many as a new frontier of growth for local and international investors.

A view which is shared by Jan Van Zyl, head of property development for leading pan-Africa real estate development fund, Novare Equity Partners.

“Nigeria is the largest economy in Africa. Therefore, you cannot brand yourself as a Sub-Saharan Fund and not have a presence in Nigeria.” Adding that the fund is also looking at options in Ghana and Cote D’Ivoire.

While the scale of the opportunity in Nigeria has attracted many entrants over the past decade, experienced investors and developers understand that the formal retail market is limited and dynamic that can grow exponentially.

$300 MILLION INVESTED

As Van Zyl explains, “We believe that we are at the right place, at the right time, and we have invested in four shopping centres in Nigeria since 2010 with a book value in excess of $300 million.”

As one of Africa’s bullish international funds in real estate on the continent, the pan-Africa fund is in the country for the long-term. However, while the recovery over the last 12 months has been slow, Van Zyl argues that this is not a Nigerian, but an emerging market phenomenon.

RECOVERY AND ELECTIONS

“Combined with elections in February 2019, we find that many potential new entrants are waiting on the sidelines until the uncertainty surrounding an election period has settled.  It is important to note that, such a cycle is not Nigeria specific, but is experienced in most emerging markets throughout Africa and other continents.” However, he does note that there has been a trend of decreasing the size of future shopping centre developments in the current market, which is one way in which the market has recalibrated to cope with market relating to the recession.

For Kfir Rusin, the Managing Director of the WAPI Summit, the advent of data and new technologies are critical to quickening the somewhat slow pace of recovery in the retail sector post-recession.

THE FUTURE

“As a pioneer in their field, Fraym’s use of Geospatial data, AI and Machine Learning technologies can provide actionable intelligence on communities down to 1 square kilometre across the country. This unique and relevant data has the potential to be transformative catalyst of growth for the retail sector.”

With such useful smart data increasingly, many large market layers are actively recalibrating their approach. As Djire reveals, “We are actively working with global investment players, development organisations, as well as local companies, to get actionable market insights. Through our data, we are seeing early signs of companies leveraging Fraym’s geospatial data platform to streamline their operations and retail strategy. We see a growing need for actionable data for companies to be able to make effective decisions.”

As Rusin says, “This year’s West Africa Property Investments (WAPI) Summit will provide a platform for the traditional retail sector to network and realise the real-world benefits of how relevant data and tech is essential to growing the formal retail sector.”

For Djire, WAPI is a platform for engagement. As he says, “WAPI is the platform where the message of a data approach in retail could gain grounds. There is a unique opportunity to engage directly with decision-makers, demystify the concept of [geospatial] data, walk them through the idea of a data approach and how it could affect their business and bottom line. More importantly, it’s an opportunity to hear from them about the ways they think about the market, their business, and their consumers, to ensure that we’re all on the same wavelength.”

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