Taiwo Oyedele Urges Nigeria to Invest in Digital Sovereignty

Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, cautioned that Nigeria risks repeating the costly mistakes of its oil economy by relying heavily on foreign infrastructure for data storage and processing. Speaking on November 6 in Uyo, Akwa Ibom State, during a convocation lecture titled “Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation” at the University of Uyo, he highlighted that over 90 percent of Nigeria's data is hosted abroad, leading to significant economic costs.

Oyedele stressed the importance of digital sovereignty, which allows Nigeria to manage its data under its own laws while still engaging in the global digital economy. He called for investments in domestic digital infrastructure and local expertise to convert data into valuable products and services.

Additionally, he urged graduates to embrace artificial intelligence and emerging technologies while maintaining critical thinking and integrity in their digital conduct.