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IT: Group Urges Synergy Between Academia, Industry
A Non-Governmental Organisation (NGO), Young Innovators of Nigeria (YIN) has called for synergy between the academia and Information Technology (IT) industry to bridge the gap in IT skills ecosystem.
President of the group, Mr Andrew Abu, made the call at the presentation of its Connect to Change IT Skill Gap Research at the ongoing conference of Academia in Information Technology Profession (AITP) in Abuja, Wednesday.
The theme of the conference was: `Information Technology for Promotion of Quality Education, Research and Local Content Development.’
According to Abu, tertiary institutions form the basis for the development of skills in IT, but the fundamental knowledge required for the IT graduates to thrive in the industry is lacking.
“IT is an enabler to solve problems in all areas and the university is the basis to develop skills.
“There is need for the reform of IT education which has the potential to grow the country’s economy and create jobs for the young population,” he said.
He called for the teaching module in tertiary institutions needed to involve more practicals to meet up with skill needed in the industry.
He said that lack of sufficient practical in IT courses had resulted in the poor turnout of graduates in the area.
Abu stressed that poor graduates in IT had contributed to unemployment and underemployment of individuals who desire jobs in IT.
On his part, Prof Afolayan Olaniyi, President, Academia in Information Technology Profession (AITP) said that the poor quality of graduates in IT area of study had made them unemployable.
Olaniyi observed that poor funding had contributed to the quality of education in IT graduates.
However, the AITP chief said it was important that the academia and the industry utilise what is available in the country to develop local IT products.
According to him, the best way to solve challenges in the country is the application of IT.
He, however, said it was necessary for experts in the IT industry to mentor students in tertiary institutions for better skilled individuals.
The chairman of the conference, Prof. Ishaya Tanko, Director ICT, University of Jos, said that IT curriculum in tertiary institutions were obsolete.
Tanko added that the curriculum required upgrade to measure up to the demands of the industry and as well be in line with global curriculum.
He also said that the industry and the academia need synergy to function better, adding that no organisation could exist in isolation.
Mr Samson Osagie, Executive Director Marketing and Business Development Nigeria Communication Satellite (NIGCOMSAT) Ltd, said with the collaboration of partners like YIN the organisation could use locally made applications to consolidate national security.
Osagie added that the organisation was working assiduously to launch the country’s satellite to ensure the furtherance of IT development in the country.
Prof Isa Pantami, Director General National Information Technology development Agency (NITDA) said the agency was putting measures in place to intervene in IT skill gaps.
Represented by Dr Christopher Okeke, Director Cyber Security, the D-G said that they were encouraging local application development to reduce importation of apps that could be locally made.
He, however, said NITDA would only encourage importation of applications where it could not be locally produced.
According to him, encouraging local content will reduce capital flight of IT products and services.
Pantami said that gaps in IT skills were not to be blamed on either the academia or the industry, adding that Nigerians were skillful and the enabling environment would make the sector thrive.
Mr Anthony Oni, Principal Partner YIN, during the presentation of the research said that IT practitioners in the industry were consulted on the needs in the industry.
Oni stated that all the practitioners made reference to the fact that IT graduates could not marry the experience in school with the industry requirements.
The Tide soruce reports that 169 Nigerian IT companies with a workforce of 10 employees were used as a case study for the research.
Goodwill messages also came from Nigerian Communication Commission, Baze University, Computer Professionals Registration Council of Nigeria and Nigeria Computer Society.
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter