How Broadband Penetration, Others Are Boosting e-Commerce Growth, Says Kashifu Abdullahi
The National Information Technology Development Agency, (NITDA) has said that the use of smartphones, increasing broadband penetration, social media, relatively safe e-payment systems are some of the factors that are contributing to the steady growth of e-Commerce in Nigeria.
The National Coordinator, Office for Nigeria Content Development in ICT (ONC), Barrister kasim Sodangi who spoke for NITDA at the 2020 e-Commerce and Marketing Online Seminar for Micro, Small and Medium Enterprises (MSMEs), said e-Commerce in Nigeria is projected to have a steady annual growth of 14 percent.
The seminar was organized by the Bureau of Foreign Trade, at the Ministry of Economic Affairs, Taiwan; and the Nigerian Export Promotion Council (NEPC).
Quoting statistics from the National Bureau of Statistics, (NBS), NITDA maintained that the ICT’s enabled businesses contribute 8.4 percent to National Gross Domestic Product (GDP).
NITDA revealed that e-Commerce opportunities that exists in Nigeria are mostly retail component, with estimated $12 billion according to Mckenzie, and it has been projected to reach about $75 billion by 2025.
It said that the context of e-Commerce in Nigeria is determined by the population which is about 200 million with 132 million of them on the internet.
According to NITDA, 62 percent of Nigerians that are under 24 have basic literacy and are acquiring digital skills. It stated that there are about 300,000 online purchases daily compared to the previous 30,000 witnessed in previous years.
NITDA also revealed that persons between 25 and 35 are the most active shoppers or active groups in e-Commerce in Nigeria and 69% of e-Commerce activities in Nigeria are on mobile devices.
The Executive Director of NEPC, Mr. Segun Awolowo said e-Commerce business in Nigeria experienced a surge at the emergence of COVID-19 because people were still able to carry out businesses without making contact.
The Director General BOFT Taiwan, Cynthia Kiang said the seminar is aimed at fostering a better trade relationship between Nigeria and Taiwan in term of e-Commerce.