Monday, June 23, 2014

Nigeria Online Transactions To Hit N1trn By December



As Nigeria continues its movement towards a digital economy and with the nationwide cashless policy expected to take off by July 1, online transactions in the country are expected to hit N1 trillion by the end of 2014 DigitalSENSE Business news gathered.

This is as government has been charged to support and fund technology initiatives that will reposition Nigeria in the information and communications technology (ICT) space.

Managing director Accenture Nigeria, Mr Niyi Yusuf, who said this while delivering a paper on strategies for enhancing collaboration between stakeholders and government at the 2014 Information Technology Assembly of the Computer Professionals Registration Council of Nigeria in Abuja recently said, several Nigerian e-commerce companies like Jumia, Konga, Wakanow.com, OLX.com.ng etc were pushing the frontiers of online transactions helping Nigerians make purchases online through the e-commerce initiative.

 According to Yusuf, mobile payment through point of sale (PoS) machines had already reached N271 billion in 25 million transactions, adding that Jumia.com turnover had reached N1 billion as at the end of 2013 up from N100 million in 2012, a sign of the abundant business opportunities available in e-ecommerce in Nigeria, he observed.

He noted that a way of making sure that Nigeria plays a more active role in e-commerce is for public-private sector participation. A situation he said that will see government fund initiatives that will lead to mega billion dollar internet companies from Nigeria. He disclosed that Mpesa and Internet were research initiatives funded by the governments of Kenya and the United States of America.


Yusuf further called on the government to create open platforms to encourage innovations and collaboration and challenged the National Office for Technology Acquisition and Transfer (NOTAP) to support laudable e-commerce initiatives.


Chukwudi Obi

... Making SENSE of digital revolution!

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