BRISIN Activation: Potential $600 Million for Nigeria and 10 Million Jobs

The activation of BRISIN could net Nigeria $600 million and create 10 million jobs. Dr. Anthony Uwa highlighted delays from the Ministry of Budget and Economic Planning as obstacles to implementation. The project promises benefits including improved governance, economic monitoring, and enhanced job opportunities.

The activation of the Basic Registry and Information System (BRISIN) in Nigeria’s Federal Capital Territory could be a game-changer, potentially bringing in as much as $600 million in intervention funds and generating over 10 million job opportunities. Dr. Anthony Uwa, the head of BRISIN, made this assertion during a press conference on Friday in Abuja.

BRISIN, which serves as an integrated data infrastructure, was designed to facilitate the daily collection, storage, and distribution of pertinent information vital for managing Nigeria’s economy. This initiative was initially approved back in 2007 under former President Olusegun Obasanjo’s administration. Successive governments have kept the momentum; the project saw further development under Goodluck Jonathan, and in 2018, the Muhammadu Buhari administration commenced a pilot program in the FCT.

Dr. Uwa expressed disappointment regarding the delays caused by the Federal Ministry of Budget and Economic Planning, which he described as a hindrance to the project’s implementation. He highlighted the many benefits BRISIN could bring to the economy, including job creation, easier access to credit, increased economic activities, and overall national development.

Additionally, Uwa pointed out that implementing BRISIN would bolster national security, enhance decision-making in economic planning, attract investments, stimulate technological growth, and generate revenue. He emphasized that the project could further social welfare initiatives, promote rural development, and foster significant employment opportunities.

He insisted that BRISIN holds the key to sustainable economic growth across various governance layers in Nigeria, revealing expectations of intervention funds from Italy. Uwa also remarked that had BRISIN been fully operational since its 2018 pilot launch, it might have contributed to better governance, enhanced fiscal monitoring, reduced criminality, and minimized corruption.

The project has designated the National Planning Commission as its coordinating agency, currently operating under the umbrella of the Ministry of Budget and Economic Planning. Meanwhile, Lorenzo Santangelo, Director of Solution Providers at Dermo Impex, voiced support for BRISIN’s role in economic development.

Santangelo underscored that the absence of a robust registry system like BRISIN inhibits Nigeria’s international credibility and economic advancement. He was particularly vocal about the necessity of implementing BRISIN quickly to seize its benefits, including various funding and investment opportunities, while fostering a transparent and accountable business environment.

The BRISIN initiative represents a substantial opportunity for Nigeria, potentially unlocking vast economic prospects and job creation. However, since its initial approval, implementation has faced delays primarily due to bureaucratic hurdles. Urgent action is needed from the government to not only initiate this vital project but also to leverage its full potential for national development. The input from both Dr. Uwa and Mr. Santangelo highlights the critical need for transparency and effective systems to boost Nigeria’s economic credibility.

Original Source: guardian.ng