Prosperity of Nigeria and other African countries will be determined by the extent they adopt and maximize intense technologies in driving economic breakthrough.
The scholars expressed this opinion at the maiden hybrid International Conference organized by the UNIZIK-ANAN Centre for Accountancy Research Studies.
The event organized in collaboration with Association of National Accountants of Nigeria, (ANAN), was themed “Towards the African Glory: The Trigonometry Connect of Intense Technologies, Green Economy and Financial Management.
The Lead paper Presenter, Prof. Abuchi Ogbuju, described Africa as a continent with immense potential for growth and development.
He however regretted that the continent also faces significant challenges, including climate change, poverty, and inadequate financial management.
Prof Ogbuju argued that intense technologies will play a critical role in Africa’s journey to economic breakthrough.
“These technologies have the potential to transform industries, economies, and societies.
“Their adoption can play a crucial role in promoting a green economy and improving financial management in Africa.
Despite the visible adoption of technology, the continent still faces challenges that slow down progress.
Technological adoption in Africa
“The adoption process is evident in African countries, where it rapidly transforms jobs, increases productivity, and improves quality of life.
“Business owners have a real opportunity for substantial growth and development. However, this is only possible with the introduction of new specialists
“Nigeria is making significant strides in technological development, driven by a growing number of tech-savvy youths, a thriving startup ecosystem, and increasing demand for tech solutions.
“The country has seen a surge in technology startups, particularly in areas like ¹: – E-commerce.
“Online platforms are changing the way Nigerians shop and do business.
“Fintech: Companies like Flutterwave are revolutionizing payment systems across Africa.
He regretted that despite these advancements, Nigeria’s tech industry faces some challenges including inadequate infrastructure.
“Poor electricity and internet connectivity hinder startup operations. Many startups struggle to secure funding, relying on foreign investors.
“Nigerian graduates often lack the necessary skills and experience for the tech industry.
“The Nigerian government and private sector are working to address these challenges and promote technological innovation,” he remarked happily.
Government hardly listens
The Chairman of the occasion and Doyen of Accountancy in Nigeria, Professor Benjamin Ossisioma, called on Africa to leverage technology to rule the world.
He however regretted that government pays little or no attention to subject matters of robust academic discourse.
“I hope that we will chart a new course and initiate a discourse that will enable us to move in the right direction.
“My only problem is that nobody listens to all our debates. We are just talking.
“We are just involved in some healthy exercise and it is a good one. So, don’t be discouraged.
Acting Vice Chancellor, Professor Carol Arinze-Umobi, represented by Professor Philomena Igbokwe, Director General Studies, lauded the theme of the conference.
“With the theme highlighting interconnected of technology and financial management, I am persuaded that this gathering of erudite scholars will do justice to the theme and come up with outcomes that can help Nigeria find direction in this regard.
Challenges slow down progress
Professor Emma Okoye is the Director, UNIZIK-ANAN Centre for Accountancy Research.
He said the centre is working hard to promote and advance the science of modern accounting with greater emphasis on technology than the traditional ‘debit and credit’.
“The Centre with the approval of the university Senate is offering Certificate and Diploma Programmes in Artificial Intelligence in Accounting, Cybercrime Investigation and Cyber Security, Data Analytics, Fraud and Financial Management, among others.
“The Centre is meant to be Centre of Excellence for the training of 21st century Accountants who will be technology driven.
“But we are not yet achieving that because of lack of fund and necessary equipment.
President ANAN and Chairman of Council, Hajia Zuwaira Talatu Kishimi represented by a council member, Dr Louis Nkwagu, pledged to look into the need of UNIZIK ANAN Centre support
“I have listened to you all, to the Director of the Center for Accountability Research.
“As a member of the Council, I would not only present your challenges to Madam President. I would also present this to the Council for possible attention.
“Instead of being reactive, ANAN assumes a more proactive role in financial management.
“We are also proactive in ensuring quality services to the public with the highest degree of accountability and transparency.
“The challenge is to keep abreast with technology and apply it in the charge of our consumption, especially in improving our service delivery.
In a remark, Commissioner for Works in Anambra State, Mr Ifeanyi Okoma said financial transparency has been the watchword of the Soludo’s administration.
“We need ANAN to help us achieve this. We don’t have another homeland but Anambra.
“Let’s work together, and Anambra will be a livable and prosperous homeland. We are working to make Anambra a arrival lounge and not departure lounge.
Highlight of the event was the presentation of awards to some individuals for their contributions to the mandate of UNIZIK ANAN Centre for Accountancy Research Studies.
