President Tinubu urges African leaders to take advantage of industry 4.0 and disruptive technology to capitalize on existing business opportunities.
African leaders have been urged by President Bola Ahmed Tinubu to use industry 4.0 and disruptive technology to develop creative solutions that will help the continent take advantage of current business opportunities, overcome its current challenges, and move toward a more prosperous and promising economic prosperity.
On Monday in Abuja, Tinubu gave advice while declaring the start of the maiden Africa Space Economic Conference and Exhibition, which was organized on by the Abuja Chamber of Commerce and Industry in association with the National Space Research and Development Agency (NASRDA).
He exhorted participants to approach the conference and exhibition with an uncompromising dedication to utilizing African abilities, expertise, and innovation for the benefit of Nigeria and the continent.
Tinubu urged the continent to explore potentials hidden in the space industry in order for it to catch up with the rest of the globe.
He was represented by the Minister of Innovation, Science, and Technology, Uche Nnaji.
He described space technology as the bedrock of contemporary economic development, with 60 percent of the top ten wealthiest people in the world actively involved in and reaping the benefits of space research, technology, and discoveries.
Tinubu urged African leaders to focus their efforts on finding solutions that are appropriate for the continent’s specific needs and problems, noting that this year’s conference will open up opportunities for increased African involvement and partnership in opportunities in the global service economy and social development.
he said:
“The only vehicle for Africa to catch up with the rest of the world is to explore the immense potentials hidden in the space sector. To unleash creativity and sustainable development. Space economy as an emerging sub-sector of global space ecosystems denotes the economic benefits of a dynamic sector and the role it can play in human society and socio-economic development.
“Africa is in a strategic position to serve the continent and the world with our original space assets to create jobs, reduce capital flight, and improve technological innovations for the usual and ever growing population”.
The conference, according to the president, will also give scientists and businesspeople in the field a platform to explore the economy’s great potentials through real-world solutions to Africa’s problems as a means of achieving economic benefits.
The president also stated that the event will provide information on investment and business opportunities both inside and outside of the continent.
Participants and exhibitors will both have the opportunity to display space technology spin-offs, talk about innovative ideas, and form partnerships at the exhibition, which will promote technology and move Africa closer to being a more prosperous and economically viable continent.
Elder Osi Imomoh, president of the Abuja Chamber of Commerce and Industry, welcomed guests to the conference and said that the space economy has had tremendous growth recently.
He continued by stating that the global space industry had a worth of $524 billion last year and was expected to grow by up to 41% in the next five years.
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