19th March, 2024
By Oluwagbenga Oyebanji
According to Paul.J. Meyer,” Productivity is never an accident. It is always the result of a commitment to excellence, intelligent planning, and focused effort.” Industrialization was invented by first machine age, which inspired advancement in productivity and mass production. 200 years before 21st century witnessed explosion in human intelligence about solving problems of transportation, healthcare, housing, agriculture and finance. Never before did the human race experience prosperity in research and development. Nations began exploring possibilities of upward mobility urban movement became the standard of living actualization. Breakthroughs were upheld in steam engines, electricity, constructions and nuclear physics.
Fast forward to 21st century, second machine age brought digitization and information technology, driven by three characteristics which is exponential growth, replicating a process at zero cost, and combinatory. The first machine age allowed automation and augmentation with our physical strength to mass produce output. The second machine age brought a reality of artificial intelligence and machine learning replacing human strength by enabling mass production with the help of machines and robots. It has also created more wealth but the main challenge is more jobs have been lost and the third world economies are struggling to catch up with the advance technology economies. This age has dug up more income inequalities in Nigeria because most employees are left behind in the technological race.
The impact of electricity on manufacturing featured the rise of many firms in the first machine age and industrialization became the cornerstone of economic development and growth. The second Machine age is no difference because artificial intelligence, machine learning and 3D technology are transforming economies and has given opportunities to many entrepreneurs to tap into large opportunities making value and wealth creation the drive of business intelligence..
According to Fortunes 500 which is the benchmark for the largest corporations in the world as indicated by Fortune Magazine FY 2023. The ten largest economies led the chart with the biggest corporations in the world, China 143, US 136, Japan 41, Germany 30, France 24, South Korea 18, United Kingdom 15, Canada 14, Switzerland 11, and Netherlands 10. The second machine age has brought innumerable wealth to the developed countries, but developing nations like Nigeria needs to level up into the league of technological advance countries.
How does Nigeria become a major player in the second machine age? Unemployment rate is 33% as indicated by NBS, inflation rate rose to 31.7% in February 2024, food inflation is double digits, fuel crisis that has made cost of living intolerable, foreign exchange rate is unstable, and high insecurity has done more harm than good. The contending issue is using technology to the nation’s advantage in the second machine age and providing local made solutions to the gargantuan problems that affect the unity and upward mobility of the mammoth youths of this nation.
PBAT must as a matter of urgency create a sense of belonging into fashioning out a local content solution using technological breakthrough. All the paraphernalia of government’s architecture must be deployed to put Nigeria on the growth path using technological advancements. Big data analytics is vital to harnessing information and using it to create new opportunities. The National Identification Number (NIN) must be revitalized to address data duplication, having Voters Card, and BVN is creating bureaucratic waste. NIN through the National Identity Management Commission must be strengthened to create a functional database for all Nigerians. During a courtesy visit by the State Chairmen of APC to PBAT on 15th of March 2024 at the State House Abuja. The President declared,” Without National Identity Card registration and comprehensive data coverage. It will be impossible for government to provide social welfare for the underprivileged in the country,”
Agriculture is the bedrock of Nigeria’s economy contributing 23% to GDP and providing 75% of employment generation on subsistent level. The Agriculture sector in Nigeria is underutilized; a vivid example of a nation using smart technology to maximize potentials in Agriculture is Netherland with population of 17.5M and GDP of $1.057trillion. Agriculture contributed 1.5% to the GDP of a country with less land mass. Nigeria needs to position our farmers to smart farming using data analytics, artificial intelligence and machine learning for product yield maximization and job creation.
According to UNICEF one in three Nigerian children is out of school with the total of 10.2 million for primary school level and 8.1 million for junior secondary school. PBAT needs to quickly convene a technology education conference with emphasis on STEM education. An executive bill must be sent to the parliament on STEM, which must be making STEM education compulsory for primary and secondary school pupils at all levels both north and southern Nigeria.
The security issue is on all time low, banditry and terrorism is ravaging the land and inhibiting FDI and FPI. The security architecture must be reformed to Nigeria’s advantage. The single police force is archaic and dilapidated for 21ST century Nigeria. The Nigeria Police Force with staff strength of 301,737 and 200, 000 attached to VIPs and politicians. State policing and a technologically driven police force would reduce crime to the barest minimum. The challenges are enormous and technological solution would aid in creating conducive environment for the citizenry. The $1trillion economic projection by 2030 is possible with technology as the spine of policy formulation and implementation.
According to Elbert Einstein, “It has become appallingly obvious that technology has exceeded our humanity.”
-Oyebanji is a Public analyst, siemmag@gmail.com