Technology influences tons of industries around the globe. It consistently paves the way for economic growth through the advent of new and seamless methods of doing things.
With technology as its key driver, Nigeria has experienced a significant economic transformation process. As one of the largest economies and most populous nations, Nigeria leverages the power of technology to promote sustainable development. Therefore, its role cannot be undermined when attesting to the things that have contributed to making the country’s economy better.
Different sectors in the country aid the growth and expansion that it experiences periodically. They range from the educational sector to agriculture, healthcare, and commerce.
Hereon, we’ll be exploring how technology is impacting various sectors. Keep scrolling!
Major Sectors Impacted by Technology in Nigeria
Without all of these sectors, the economy is stripped bare of its benefactors. Therefore, let’s take a look at some of these industries and how technology impacts them.
1. Information and Communication Technology (ICT)
The ICT sector of Nigeria has experienced tremendous growth and it contributes majorly to the GDP (Gross Domestic Product). Companies like Airtel, Glo, 9mobile, and MTN invest in telecommunication infrastructures. This development has resulted in widespread usage of mobile phones with millions of subscribers.
Furthermore, the digital economy has witnessed a rapid boost with the emergence of fintech companies like Interswitch, Paystack, Flutterwave, and the like. These companies foster swift transaction processes via innovative payment solutions.
2. Agriculture
Precision farming, drone technology, and mobile applications are the results of the fusion of agriculture and technology. Technology has revolutionised the way we farm and is modernising farming practices one after the other.
The emergence of digital agricultural platforms enables farmers to always stay informed. The information provided here varies from pest control to weather updates, and even market prices.
Some good examples include Farmcrowdy and Thrive Agric. These platforms connect farmers with investors and give them access to capital and better farming methods. They also learn to leverage technology for efficient production, distribution, and processing.
3. Healthcare
In Nigeria, different platforms are transforming this industry. Lifebank and Dokita are good examples of platforms that are promoting telemedicine services. They help to connect patients with doctors, supply essential medical products to underserved areas, and deliver supply chain-sensitive medical products such as blood, vaccines, and oxygen.
In addition, the usage of electronic health records and information systems in hospitals has improved patient care, resource allocation, and data management.
4. Education
E-learning platforms like Tuteria and uLesson are becoming the trend. These platforms provide access to quality education through video tutorials and interactive lessons. Also, they offer personalised learning experiences which helps to bridge the educational gaps, especially in remote areas in the country.
With the aid of technology, access to global educational resources and innovative teaching methods becomes easier. As a result, virtual classrooms and online courses have become more prominent. Therefore, this boosts the rate of literacy among people of different age ranges.
5. Commerce
Another way technology has developed the country is through the introduction of e-commerce platforms. Online shopping sites like Jumia and Konga have changed the retail landscape. They offer users a wide range of products and services at their fingertips. With just a few clicks and scrolls, you can get whatever you want right from the comfort of your couch.
With the emergence of e-commerce comes the adoption of mobile money services and digital payment. Online banking platforms like Quickteller and Paga enhance financial inclusion. Also, it continues to simplify transactions for millions of Nigerians.
Conclusion
In recent years, technology has become a pivotal driver of Nigeria’s economic development. It consistently impacts various sectors by promoting productivity and innovation.
Many people employ technology in their businesses. Also, students and healthcare institutions are not exempted from this development.
The more the country embraces technological advancements, the more it becomes well-positioned to become a significant player in the global digital economy.
Read also: Nigeria’s Tech Startup Ecosystem: Trends, Innovation And Funding