Tinubu To Bill Gate: Technology Is Enemy Of Corruption; Woos Samsung

Posted by Rotimi Fadeyi Business News, Featured, Latest Headlines, Uncategorized Monday, April 29th, 2024

(AFRICAN EXAMINER) – President Bola Tinubu has said his administration is investing in technology tailored towards ensuring transparency and accountability in government and accelerating public-sector performance and service delivery to the Nigerian people.

Speaking during a meeting with Microsoft Founder and Philanthropist, Mr. Bill Gates, on the sidelines of the World Economic Forum Special Meeting in Riyadh, Saudi Arabia, on Sunday, Tinubu said technology is a potent weapon against corruption and financial impropriety in public service.

His words: “Technology is the enemy of fraud, corruption, and irregularity. We have been working hard on improving technology.

“There is always the initial resistance. Corruption, self-interest, and fraudulent activity will always be an enemy, but when you bend that curve, you will receive the benefit. The nation will receive the benefit,” the President said.

“When I was governor of Lagos State, I faced challenges. I started with N600 million and ended up with over N8 billion. And right now, they are targeting a trillion naira with the use of technology in the state. There is no other shortcut. We must invest in technology. We must focus, be diligent, and work hard,” the President said.

In his remarks, Bill Gates informed the President of a one-identity technological platform that can integrate variegated data, while explaining the centrality of data harmonization to planning, security, and tax efficiency.

“We are working with Mr. Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, on digitization. Before you came into office, there were a few things attempted in identity management. But they have been very scattered. There have been multiple identification systems.

“Now, there is a plan to take that technology called MOSIP and use it for this identification platform so that people can get digital benefits. We are providing support for that, and we can provide more support.

“With MOSIP ID, there is potential application in all government payment programmes. It helps with payment efficiency and bank accounts, and eventually, when everyone is using that, it makes tax collection easier. That benefit will take a few years. However, there will be more bank accounts, more financial inclusion, and effective government payment programmes,” the former Chief Executive Officer of Microsoft said.

Tinubu Woos Samsung

Also, President Bola Tinubu said Nigeria’s investment environment operates on the principle of ‘a willing-buyer and willing-seller’, which ensures seamless access to capital for investors both within and outside the country.

The President gave the assurance in Riyadh, Saudi Arabia, during a meeting with the President and Chief Executive Officer of Samsung, Hong Namkoong, and the Chairman of Samsung Investment Global, Jungwook Kim.

”Nigeria is a very huge country with a huge and able population. We have vibrant youths ready to learn and progress. In fact, our young do not wait for us. They go ahead of us in their determination to succeed. We must keep up and provide opportunities for them to excel with.

“We have an infrastructure deficit and you can take advantage of that and invest early and deeply in an environment that is absorptive and ready for it. It is modeled after a willing-buyer and willing-seller arrangement. Easy capital in and easy capital out” Tinubu said.

In his remarks, Kim expressed Samsung’s interest in expanding its presence in Nigeria, citing the successes of sister companies already operating in the country while laying out potential new opportunities in Nigeria.

”We have built many power stations around the world. We are top of the class in gas-fired power plant construction. We have an ever-increasing portfolio in the production of renewable energy solutions around the world. We can make a lot of progress in Nigeria’s energy sector as well as bringing our technology to other key productive sectors.

”Transmission lines and smart grids are areas where we see increasing demand globally. You need infrastructure anywhere you go. We are good at metropolitan rail lines; we are good at bridge construction and any of these types of infrastructure projects, in addition to oil and gas engineering projects. We are looking forward to knowing Nigeria better under your leadership and to see how we can penetrate the Nigerian market deeper. This is a great opportunity for us,” Mr. Kim concluded.