Thursday, March 5, 2009

Global crisis and ICT

As the world and indeed Africa battles the global economic recess, it is therefore imperative that African youths begin to embrace ICT (information and communications Technology) as it is the fastest growing means of employment globally.
The continent is worst hit because most of the small scale industries have closed down and there is large scale Downsizing of labour in the industrial sector. Those that are still employed have been threatened with a cut down on salaries and allowances. Taking Nigeria as a case study, you can understand that a country that depends on oil exports for over 80% of it's annual GDP (Gross Domestic Product), this global economic recess and the fall in oil prices from an all time high of $140/barrel to about $35/barrel, you can only imagine the situation of things in the country. The government has recently threatened to focus more on internally generated revenue and possibly increase tax. This is a bad news for small scale industries that are trying to survive amidst poor public infrastructure..............to be continued

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