Pantami made the announcement at the Lagos Stakeholder's Consultative Forum on Emerging Technologies organised by the Nigeria Communication Commission (NCC) and the Federal Ministry of Communications and Digital Economy.
According to the minister, Nigeria's performance on the global cyber security index, which placed the nation 75th out of 175 in 2018, wasn't too bad.
"In 2020, we were 54 out of 194 countries, up about 19, and if you look at it, the country was rising in the world rankings," he remarked.
He claims that the nation has taken numerous steps to preserve our online privacy.
In his opening remarks, the minister also mentioned the necessity for regulations, noting that by 2025, data would have expanded to 79.4% zettabytes, and that regulators should be proactive as a result.
According to Pantami, the National Digital Economy policy and strategy for a digital Nigeria based only on developmental regulation has been at the centre of Nigeria's ICT regulatory approach since 2019.
According to him, the regulatory approach had been adaptable and had not in any way hampered the sector's growth.
The NCC's Executive Vice-Chairman, Prof. Garba Danbatta, added that the stakeholders' input was crucial for staying current with the telecommunications industry's evolution.
Danbatta asked all stakeholders to come and constructively discuss thoughts on the Spectrum and the regulatory requirements of the Internet of Things because he said that the telecommunications business was dynamic (IoT).
He defines the Internet of Things (IoT) as a network of interconnected computing devices, mechanical and digital machinery, items, animals, or people who are given unique identifiers and the capacity to transport data over a network without the need for human involvement (human-to-human or human-to-computer interaction).
“This is increasingly becoming important in the scheme of activities across most sectors of the economy which includes Education, Security, Military Reconnaissance Commerce, Governance, Inventory Management, Health etc.
“The applications of IoT are far-reaching. In the home, IoT can be used for home automation and control, lighting, temperature measurement, entertainment amongst others,” he said
According to him, the Internet of Things (IoT) unites resources, advanced analytics, and people by utilising interconnected industrial devices to monitor, gather, share, and analyse data to facilitate quicker and better decision-making in an industrial context.
"Industrial Internet of Things (IIoT) may be utilised to maintain inventory, enhance product quality monitoring, and automate facilities to function more effectively.
According to Danbatta, the introduction of 5G technologies would provide the Internet of Things (IoT) Ecosystem a new dimension by enabling Massive Machine Type Communication (mMTC).
He stated that GSMA Intelligence projects that by 2025, there will be about 25 billion IoT connections worldwide.
With this rate of development, according to Danbatta, it is crucial to get ready for the regulation of this significant technology.
The panellists agreed that there should be standards and regulations on "to regulate or not to regulate" topics, adding that innovations should not be impeded while doing so.
They also demanded group regulation of potential developments.
The minister of communications and the digital economy's books were also presented in public, according to the News Agency of Nigeria.
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