Osun State’s economy is mostly focused on agriculture, particularly the production of cocoa, cassava, millet, maize, potatoes, and yams. To make the state a tech powerhouse for the southwest, Osun unveiled digital economy policies for the state at the beginning of the year.
Meanwhile, the digital economy is the worldwide network of economic activities, commercial transactions and professional interactions that are enabled by information and communications technologies (ICT). It can be succinctly summed up as the economy based on digital technologies. The digital economy offers potential for companies and consumers to connect more quickly, more efficiently, and more meaningfully to the products, services, and experiences they love. In the context of the present circumstances of the world, the Digital economy can be divided into three key components that are: e-business, e-business infrastructure, e-commerce.
Innovation Support Network (ISN) Hubs is a Non-For-Profit Business Membership Organisation comprising of entrepreneurship, impact, innovation and technology hubs across Nigeria. Recently, representatives from numerous industries, including the government, academics, innovation hubs, and important stakeholders attended the ISN meetup in Osun State, which was organized by Opolo Global Innovation Hub. Several important subjects were discussed throughout the session.
According to ISN, participants indicated that, “the efforts by the state government to foster innovation and entrepreneurship took centre stage, prompting considerations about the possibility of reevaluating the nomenclature of the Ministry of Science, Information, Communication, and Technology.” In addition, “the discourse extended to the significance of international investments in the state, the hurdles within funding allocations, enhancing the capabilities of startups through effective capacity-building initiatives, collaboration as a pivotal catalyst for propelling growth and productivity within the state’s ecosystem, and many more.” By investing in digital infrastructure, promoting digital literacy, and fostering a culture of innovation, they can help build a digital economy that is robust, inclusive, and sustainable.