Bank loan

Why we got a $ 72 million loan from the World Bank for 36 states – FG

The Minister of Science and Technology, Ogbonnaya Onu, explained why the federal government obtained 72 million dollars from the World Bank for the 36 states to develop their land information system.

Speaking at the annual Geoinformation Society of Nigeria conference held in Lagos, the minister said the gesture is to strengthen the collection of internally generated income (IGR) at the state level, adding that the effort will generate no less than 50,000 jobs for the abundant young people.

He said: “The World Bank, through the Federal Ministry of Finance, Budget and National Planning, has secured $ 2,000,000.00 for each of the states, totaling $ 72,000,000.00 for the 36 States in order to develop the State land information system.

“It should be noted that the DLI5 program on the land information system (LIS) on the land information system (LIS) supported by the World Bank aims to strengthen the collection of internally generated income (IGR) at the level of the state. This unique effort will generate no less than 50,000 jobs for our teeming youth.

In his welcome speech on the occasion, the President of the Geoinformation Society of Nigeria, Dr Matthew Adepoju, said that it is relevant that repositioning the nation requires knowledge in economics to catch up with the rest of the world.

Listing security, environment, and socio-economic factors as the issues facing the nation, Adepoju said, “The current reality is that the world has entered the fourth industrial development revolution where things are done differently.

He argued that the coming of COVID-19 is a blessing in disguise. He said: “The arrival of COVID-19 appears to be a blessing in disguise, just as World War II (2) accelerated technological progress for humanity. New companies, new billionaires and above all new, innovative and smart ways of doing things is our reality today. I’ve had over 50 global meetings through Zoom, Webex, Teams, etc. This has dramatically reduced my carbon footprint, saving the planet a much needed reduction in CO2.

Noting that the world has entered the robotic era, Adepoju said, “We have effectively entered the robotic era powered by artificial intelligence, built on robust spatial data sets for the precision result. Other continents have started to fully apply the results of yesterday’s research and are collecting abundantly.

“The top 10 richest in the world has its wealth related to space science products and innovations, for example Tesla Group, Amazon Services, Google, Facebook, Alibaba, etc. Likewise, many geospatial applications such as Hubber, Google Map, Bolt, Jumia and many more are innovative multi-billion dollar hubs. I therefore call on the young people of GEOSON to start aggressively exploring the potentials of space solutions to blow our beloved nation into the Fourth Industrial Revolution.

“Nigeria’s Geoinformation Society has an important role to play in managing all facets of the quest for development, from industrialization to smart city, precision agriculture, transportation, communications and many others, to firmly position Nigeria through disruptive technological revolutions in geospatial information and spatial data.

“The foundation of the fourth revolution in human development is fueled by geospatial technology. If Nigeria is to move forward and in the right direction, geospatial science and technology, geospatial intelligence must play a big role in its development agenda.

“From the development of a robust geocoded addressing system for Nigeria to assist tracking and business intelligence services as well as security and emergency services. “