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Director-General, National Information Technology, Development Agency (NITDA) of Nigeria Kashifu Inuwa, has said digitisation of MSMEs would increase revenue by 26 per cent and reduce operating costs by 22 per cent, contributing US$53 billion to the Nigerian economy.
Director-General of the National Information Technology Development Agency (NITDA) of Nigeria Kashifu Inuwa, has said digitisation of MSMEs would increase revenue by 26 per cent and reduce operating costs by 22 per cent, contributing US$53 billion to the Nigerian economy.
Inuwa stated this while addressing the TechMyBiz Pitch-A-Thon event in Lagos held at the Digital Transformation Center Nigeria (DTC Nigeria). It was jointly funded by the European Union (EU) and the German Federal Ministry for Economic Cooperation and Development.
The TechMyBiz Pitch-a-thon, which is a process of selecting Digital Innovations in Africa, started with a “Call for Digital Solutions” campaign that offered a platform for many innovators, entrepreneurs, and startups within the Nigerian ecosystem. He noted that digitisation was about operational excellence, using technology as an enabler for business efficiency, more productivity, increased revenue, and cost savings. He also underlined the need for creating innovation-friendly conditions in the country in terms of enabling policies and laws, government services, ease of doing business, and so on. This would incubate ideas leading to its commercialisation.
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MSMEs contribute to 96 per cent of businesses, 83 per cent of the workforce, and 43 percent of the nation’s GDP in Nigeria, according to an estimate.
