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NITDA targets $40 billion revenues from software developers

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The National Information Technology Development Agency (NITDA) is working hard to ensure that Nigeria has substantial share of the $13trillion global market of Artificial Intelligence (AI) and another $20billion from software developers through its National Digital Skills Strategy Implementation (NDSSI).

Its Director-General(DG), Kashifu Inuwa, spoke in Lagos yesterday at a stakeholders’ engagement forum it organised, in collaboration with the Federal Inland Revenue Service (FIRS) to fashion out ways of improving payment timelines and give account of how taxpayers’ money have been spent.

He said the NDSSI was designed to achieve 95per cent digitally literate Nigerians by 2030, adding that the programme opens up opportunities that include training of one million developers to  generate $20 billion yearly.

Inuwa said the initiative will increase offshore cash to the country while closing the global projected 85 million talent deficit and $8.5 trillion in unrealised revenue by 2030.

On AI Policy Strategy Implementation, the DG said the roadmap for the adoption of AI will tap into the $13 trillion global market by 2030.

He said: “We have some flagship initiatives and projects which we believe can help us capture value; one of such is building and hatching talents because according to research, by 2030, there is going to be 85 million talent deficit globally, making talent a huge industry itself.

“So, we are working towards making Nigeria position itself as the world’s talent factory, exporting our brains, providing talented workforce for you to render services for your establishments, Nigeria, the continent and the world at large.”

Inuwa stressed the need for continuous collaborations for higher productivity, as, according to him, “no one can whistle a symphony; it takes a whole orchestra to play it. We believe in teamwork and we know there are things we can do as a government that you cannot do as a private sector and vice versa, but together, nothing is impossible.

That’s why we are here to forge a common front of working together, co-create the ecosystem and prosperity for all.”

The NITDA boss also shed more light on the key focus of the Agency particularly the implementation of Nigeria Start-up Act, completion of the National Digital Innovation and Entrepreneurship Centre, National Data Strategy Implementation, Adoption of Blockchain Technology, Implementation of the National Digital Skills Strategy among others.

“As we look to the future, NITDA is committed to sustaining the momentum, leveraging emerging technologies, developing policies and strategies that promote digital transformation, and creating an enabling environment for startups and entrepreneurs to thrive.

“We believe that with you all, we can build a more prosperous Nigeria, a country that is at the forefront of Africa’s digital economy, and a nation that can compete globally,” Inuwa said.

Also speaking, the Executive Chairman, FIRS, Muhammad Nami commended NITDA for the introduction of technology in the tax collection and payment processes which he noted has positively impacted on taxpayers and government’s ability to deliver social goods, critical infrastructure and other necessary services.

Represented by the Service’s Lead, General Tax Operations Group, Kabiru Abba, revealed that FIRS collected and remitted N22,574,099,600.06 in 2022, and the total sum collected  by FIRS  on behalf of the Agency from 2008 to December 2022 is N168,847,118,268.22.

He said it was important to showcase the achievements of NITDA, particularly as taxpayers can easily make a connection between the taxes paid and its socio-economic impact which will also assist to improve voluntary compliance.

“FIRS, for instance, is continuously implementing initiatives which are principally driven by the use of information technology and many of such initiatives have been successfully implemented including the recently introduced Electronic Tax Clearance Certificate (ETCC),” he added.

Nami noted that collection has also shown a significant improvement as the highest collection recorded thus far was in 2022 at N22,574,099,600.06, affirming that FIRS is a key partner of NITDA, and the Service assists in the assessment, collection and accounting for the Agency’s revenue, as stated in section 16 of the NITDA Act (2007).

He also assured NITDA of continuous support to achieve its mandate, emphasising that the support is important as IT plays a vital role in the operations of the service in ensuring increased revenue for the nation.

Awards for outstanding performance to NITDEF were also presented to Nami and others while certificates were also presented to stakeholders.

NITDA said the forum was organized to achieve its mandate of implementing relevant policies, developing and regulating the Information Technology space for sustainable development.

The forum brought together participants drawn from both beneficiaries of the levy and the taxpayers, including telecommunications companies, pension managers and pension related companies, cyber companies, insurance companies banks/other financial institutions the opportunity to share ideas and reexamine the concept/prospects of taxation.

They also evaluated what has been achieved so far with taxpayers’ monies while they appealed for prompt payment of relevant levies in order for the agency to fast track the realisation of critical development in the digital economy sector.

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