ITU Highlights Rapid Growth of the Digital Economy
Doreen Bogdan-Martin, Secretary-General of the International Telecommunications Union (ITU), has projected that the global digital economy will soar to $16.5 trillion by 2028. She made this announcement during the opening of the ITU International Submarine Cable Resilience Summit in Abuja, Nigeria.
Urgent Call for Collaboration on Submarine Cable Protection
While emphasizing digital expansion, Bogdan-Martin also urged global stakeholders to work together in safeguarding undersea cables. She warned that frequent disruptions could slow digital progress and affect economies worldwide.
Currently, the digital economy contributes significantly to global GDP. However, sustaining its rapid growth depends heavily on stable submarine cable connectivity, which supports 95% of global digital communications.
Explosive Growth in Internet Usage
Over the past two decades, internet usage has surged dramatically. In 2005, only one billion people were online. By the end of 2023, that number had reached 5.5 billion. The ITU chief noted that digital expansion is now outpacing global GDP growth, reinforcing its critical role in economic development.
According to some estimates, over two-thirds of new economic value in the coming decade will come from digitally-enabled businesses. This trend highlights the need for reliable digital infrastructure to sustain growth.
Nigeria Hosts Global Leaders for Digital Development Talks
The summit brought together more than 300 delegates from 194 ITU-member countries. Key Nigerian officials, including Minister of Communications, Innovations, and Digital Economy Dr. Bosun Tijani, attended the event. Also present were top executives from agencies like the Nigerian Communications Commission (NCC), National Information Technology Development Agency (NITDA), and Nigerian Communications Satellite (NigComSat).
The Critical Role of Undersea Cables
Bogdan-Martin underscored the importance of submarine cables in sustaining global connectivity. As digital economies expand, reliance on these undersea networks increases. However, she noted that despite their resilience, around 200 disruptions occur yearly. Fixing these damages remains challenging, often leading to significant economic losses.
She stressed that these cables are not just technological assets but also vital economic and policy considerations. That’s why, she explained, this summit gathered a diverse group of stakeholders to address these challenges.
Nigeria’s Commitment to Strengthening Digital Infrastructure
Bogdan-Martin commended Nigeria for hosting the summit. She urged ITU’s advisory bodies, academic experts, and industry leaders to collaborate on solutions for preventing future disruptions.
Speaking at the event, ITU Advisory Board Co-chair Prof. Sandra Maximiano highlighted recent developments in the submarine cable industry. She pointed out that in March 2023, multiple cable cuts affected several West African nations, including Nigeria, Côte d’Ivoire, and Senegal. These incidents disrupted services for an estimated 70 million users.
Strengthening Digital Resilience in Africa
Maximiano emphasized the importance of expanding submarine cable networks across Africa. She noted that while Nigeria benefits from multiple cable systems, some West African countries rely on just one, making them highly vulnerable to disruptions.
Nigeria’s Push for Digital Transformation
Minister of Communications, Innovations, and Digital Economy, Bosun Tijani, welcomed ITU delegates and emphasized Nigeria’s commitment to digital advancement. He highlighted the government’s efforts to recognize and protect digital infrastructure as a national priority.
“This is not just a technical challenge,” Tijani stated. “It affects financial markets, trade, education, healthcare, and governance on a global scale.”
Under President Bola Tinubu’s leadership, Nigeria is implementing policies to enhance connectivity, foster innovation, and drive economic growth. The minister stressed that digital infrastructure is key to Nigeria’s economic transformation and long-term development.
Shaping Global Policy for a Resilient Future
The outcomes of this summit, Tijani noted, will influence future policies and investment decisions. By improving global collaboration, the event aims to strengthen digital resilience worldwide and ensure that connectivity continues to drive innovation and economic progress.
