By Etuka Sunday
The Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami yesterday urged young innovative Nigerians to monetise social media data into fortune for themselves.
Dr. Pantami spoke at 29th Convocation Lecture of the Federal University of Technology, Minna.
He said, the possibility of extracting valuable insights from data present an interesting prospect for embracing datafication, adding that in many cases, these data mines can become a gold mine of resources.
He explained that “Jeffrey Bezos of Amazon, Bill Gates of Microsoft and Mark Zuckerberg of Facebook are modern day examples of those who have been able to mine data and transform the insights into fortune.”
He said, another unlikely example is the famous footballer known as Christiano Ronaldo.
“Ronaldo has mastered the art of monetising social media data even more than he has monetised his skills on the soccer field; he makes an estimated $47.8million (about 43.4milliin EUR) per year from paid-Instagram posts, which far exceeds his 31million EUR annual salary from Juventus,” he said.