by Anwuli Oseloka
In recent years, Nigerian businesses have increasingly embraced technology to drive efficiency, and growth. It has revolutionized the way businesses operate and improved communication systems.
Fintech companies like Flutterwave, Paystack, Opay, facilitate ease of business transactions. E-commerce giants like Jumia and Konga provide online marketplaces where businesses can sell to a wider market.
Instagram, Facebook, and WhatsApp are being used for social commerce. Businesses can reach customers through targeted advertising, engage with them directly, and facilitate transactions within the app, creating a seamless shopping experience. All of this is due to technological advancements.
In the Agricultural sector, precision agriculture tools, such as drones, IoT sensors, and data analytics, help farmers monitor crop health, optimize resource use, and increase yields. With the help of information technology, schools and universities continue to deliver education remotely, ensuring continuity in learning.
IkejaBird interacted with some business owners who are utilizing technology in their operations. Adeshola a POS merchant said, “Technology has helped me gain employment because without technology, there won’t be POS and without this I would be jobless. I haven’t been able to get a job since I graduated but with this, I have been sustaining myself.”
A First Bank representative who requested to be anonymous agrees that “Technology has done a lot in the world for years. As for the banking sector, we all know when network is down, no transaction can be made, and all these are as a result of the technology used for operations. Asides this, we have POS, ATM machines, mobile apps, ATM cards. Transactions go smoothly to and fro globally, so the list is endless.”
Ayo, a teacher at Greater Heights School believes that “Technology is the future, and it should be taught in all schools, right from primary to tertiary education. There is nothing you do today where technology is not involved. From hand gadgets to laptops to the TV and radio set to software; just name it.”
Monday Ekpo, an employee at a barbing salon said, “Without technology, there won’t be clipper for me to barb customers hair, if there was no technology, customers who don’t have cash won’t be able to pay for the service because a lot of them pay with transfer.”
Mr. Abiodun Abijo, a realtor claimed that technology is a saving grace for any business. “It has helped a lot of businesses. For me in the real estate sector, I get to interact with clients globally via email and social media. It has made communication easier and sales better because I attend to both local and international clients. If technology is taken away from the world today, everything will collapse.”
Despite the growth of the tech industry in Nigeria, there are still significant challenges that need to be addressed. One of which is cybersecurity threats. Cyberattacks such as data breaches can compromise sensitive information and disrupt business operations. Another challenge is system failures, software bugs, or power outages which can disrupt business activities, leading to significant losses.
Technology is playing a transformative role in Nigerian businesses, driving innovation and efficiency across various sectors. From fintech and e-commerce to health tech and Agritech, the adoption of technological solutions is helping businesses overcome challenges and reach new markets.
