Prof. Yemi Osinbajo, vice president of Nigeria, claimed that Nigeria has one of the highest rates of telecoms penetration of any developing nation.
Nearly 120 million Nigerians currently utilize one or more communication services, according to the vice president.
He said this on Monday during a bilateral meeting in Vietnam where he asked for the Vietnamese government’s assistance in the field of the digital economy.
Osinbajo praised the market potential of both nations in the digital economy, telecommunications, agriculture (particularly cashew nut processing), and trade at the meeting with his Vietnamese counterpart, V Th Xuân, at the Presidential Palace in Hanoi.
Partnership possibilities: According to a statement released by the vice president’s spokesperson, Laolu Akande, Prof. Osinbajo spoke extensively about the numerous collaboration opportunities that exist and the requirement for both countries to do so.
We anticipate the signing of some of the agreements we have mentioned, such as the trade and investment agreements, trade projection agreements, and double taxation agreements because there are many opportunities for cooperation and collaboration, particularly in the areas of digital economy and telecoms.
We believe that there are prospects for cooperation between Vietnam and Nigeria, particularly in the field of the “Digital Economy. Additionally, the telecoms industry is expanding in our country and may have one of the highest penetration rates in the developing world. A little under 120 million of our citizens use telecom equipment or devices. Additionally, broadband access has been greatly enhanced. We anticipate that by 2025, all 200 of our locations will have broadband connectivity.
Osinbajo added that Nigeria has been successful in creating valuable fintech and e-commerce enterprises over the past few years, despite the COVID-19 interruptions and other events that have negatively impacted the economy.
Collaboration in agriculture: Prof. Osinbajo urged partnerships between Vietnam and Nigeria to improve food security.
“I like to emphasize that the way forward is for our countries to collaborate given the food crisis that the globe is currently experiencing and is likely to continue experiencing even in the coming years. Developing cashew processing facilities, for instance, in Nigeria Raw cashew exports were done in the past, but at this moment, value addition is our main priority. We would prefer to see value being added.
He urged the development of cashew processing in Nigeria, stating that doing so would allow the nation to add value to raw cashew and take advantage of Vietnam’s enormous advantages and experience in the field.
The Vietnamese Vice President responded by praising Nigeria’s leadership in the ECOWAS area and in Africa in general, particularly with regard to the peaceful settlement of issues based on international law and the management of the COVID-19 pandemic.
She solicited Nigeria’s support for Vietnam’s efforts to forge ties with ECOWAS and expressed confidence in its abilities to address issues facing the continent and subregion.
She also discussed the progress of Vietnam’s digital transformation and reaffirmed the nation’s commitment to the world’s energy transition, saying that Vietnam would continue to collaborate with Africa to help the continent achieve its aspirations in agriculture, clean energy, and digital penetration.