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Inadequate Data, Policy Summersault Limiting Nigeria’s Economic Growth – Tinubu

  • Customs advised to leverage technology for data analysis

President Bola Tinubu has described the absence of comprehensive data and inconsistent policies as the major challenges limiting Nigeria’s economic growth and Africa at large.

Tinubu said this at the ongoing Comptroller -General of Customs (CGC) 2023 conference in Lagos on Thursday, where he was represented by the Vice President, Senator Kashim Shettima.

Inadequate Data, Policy Summersault Limiting Nigeria's Economic Growth - Tinubu
The Vice President of Nigeria, Senator Kashim Shettima (left) in a handshake with the Comptroller-General of Nigeria Customs Service (NCS), Adewale Adeniyi MFR (right); while the Lagos State Governor, Babajide Sanwo-Olu (middle) looks on; during the opening ceremony of the Customs CG’s conference in Lagos on Thursday.

At the conference themed: “Leveraging Data Analytics for Secure and Efficient Trade Facilitation in Customs Operations,” he noted that the inadequacy of data had impeded the ability of Nigeria to make informed decisions, thereby missing huge opportunities and delivering sub-optimal outcomes.

“Every part of the world is at the mercy of data and everyday we are reminded of the expanding volume of data upon which our divisions must be rooted. Data is the life guiding the ever-evolving landscape of our modern world. It is this realisation that sounds the invaluable goal of this century that prompted Tinubu’s strategic placement of tech savvy in Nigerians critical positions in the government.”

“These appointments ensures not only strategic planning but also the cultivation of Nigeria as a hub of refined minds in the global knowledge economy. We must not only commit to deploying data to make decisions within the government, but to address the historical inadequacies of Nigerian policy making often impeded by lack of comprehensive data,” he said.

President Tinubu stressed that the integration of complex data to interpret the volumes of transactions and interactions is essential in international trade because the dividends transcend to determination of revenues.

“Data provides the sharpest links for us to connect the dots. Even in establishing the security of our borders, we can easily determine the traffic of people and goods around a specific border and share indisputable information with other nations with just a punch on our computers,” he said.

Meanwhile, the Lagos State Governor, Babajide Sanwo-Olu, argued that the NCS must play a critical role by leveraging technology in data analysis as the country works towards achieving the N1trillion Gross Domestic Product (GDP) target of President Tinubu between now and 2030.

Inadequate Data, Policy Summersault Limiting Nigeria's Economic Growth - Tinubu
A section of participants during the opening ceremony of Customs CG’s conference in Lagos on Thursday.

Sanwo-Olu, however, observed that the NCS had recognised its role in ensuring modern day technology as a strong driver and an enabler for it to innovate and develop capacity that would take the service to an enviable position.

He further stressed that the NCS would compete favourably with other services of similar Customs operatives anywhere in the world with enhanced technology.

The Ooni of Ife, Oba Adeyeye Ogunwusi, noted that without data, one could not plan, urging the NCS to utilise data in their operations.

Meanwhile, Ogunwusi urged the Comptroller-General to give back to Lagos, where the Service gets over 70 percent of its total revenue.

Earlier, the CGC of Customs, Adewale Adeniyi MFR, noted that the choice of the conference theme was a strategic alignment with the pressing demands of contemporaries and governance..

“This theme places a spotlight on the indispensable role of technology in trade facilitation, ensuring that our discussions transcend mere theory, rooting themselves firmly in actionable insights.”

“So, we therefore, welcome you to a conversation where innovation meets implementation, and worlds evolve into driving force of positive change,” he said.

Adeniyi pointed out that the service was commited to using meticulous data management to improve security and trade.

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