Tech startups in Nigeria are hopeful for expansion following the Federal Government’s plan to increase investments to a $75 billion revenue target by 2025.
Otunba Niyi Adebayo, the Minister of Industry, Trade and Investment stated this recently at a stakeholders’ meeting on e-commerce and digital trade policy for Nigeria.
Adebayo stated that the inherent opportunities in the e-commerce value chain were yet to be fully harnessed largely due to inadequate investment, inadequate information on the opportunities in the sector and the inability of the government to provide the required enabling environment.
He explained that the government had identified e-commerce as a major priority programme that would play a critical role in the promotion of commodity trade, especially with the realities of the unprecedented Covid-19 global pandemic.
“He further expressed the ministry’s passion to grow investment opportunities in the e-commerce value chain, which he said was capable of contributing significantly to the Gross Domestic Product (GDP) of Nigeria.
Corroborating the minister‘s statement, Mr. Adewale Opalaye, the Group Chief Executive Officer (GCEO) of Alerzo, Nigeria‘s business-to-business e-commerce platform, said that the pandemic showed how relevant e-commerce was to the communities it served.
He stated that Alerzo would continue to engage with the government and regulatory authorities to find the best solutions to the challenges in the environments it operates from, stressing that collectively; an environment that supports e-commerce and innovation could be created for all.
“We are confident that the collective success of Alerzo and many other start-ups within the country will continue to attract new entrepreneurs, other industry players and investors to these markets,” he added.