Technology continues to shape the interaction between businesses and consumers, much has been said about the implication of increased broadband connectivity on Nigeria’s economy.

According to Olayinka Oni, Chief Technology Officer Microsoft Nigeria, who spoke on the Mara Mentor talk show recently, said “people will get a lot more with broadband technology, especially through ecommerce which is said to contribute about 7 percent to Nigeria’s GDP,” as he reiterated the implication of increased broadband penetration to the country’s economy.

In a recent report published by Ericsson Mobility, mobile broadband is becoming prominent in Sub-Saharan Africa as the region grows more reliant on mobile devices and society embraces mobility. And as Nigeria continue to lead other sub-Saharan countries, despite the challenges with broadband connectivity. But Olayinka believes SMEs will be more productive with increased internet penetration.

Currently buoyed by soaring internet penetration and mobile adoption rates, business in Nigeria’s vibrant ICT sector, is championed by innovative young entrepreneurs leveraging on unique advantages of IT infrastructure despite challenges in running a business.

According to Microsoft Nigeria’s CTO, “Technology is here to stay. It will continue to shape businesses.” He thus advised business owners to acquaint themselves with technologies that would grow their businesses, while keeping an eye on online consumer behaviour and the latest trends in ICT.

Considering the tight purses of startups, Olayinka also urged young entrepreneurs to leverage on new trends in technology. These trends include social media platforms, email marketing, online data and collaborative tools to drive growth and cut overheads.

On adoption of cloud technology, he advised that SMEs take precaution and use genuine software.

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