In her keynote address, the Dean of the Lagos Business School, Professor Olayinka David-West, stressed that Nigeria stands on the brink of a digital revolution capable of reshaping commerce, services, and livelihoods.
David-West noted that trailblazing platforms like Jumia and Konga, supported by innovative logistics startups such as Kwik and GIGL, were already creating new value chains and opportunities.
She emphasised that the country’s fintech ecosystem, which attracted more than $2 billion in investments in 2024, continues to reinforce Nigeria’s position as Africa’s fintech powerhouse, with banks such as Access and GTBank deploying artificial intelligence and machine learning to modernise services.
David-West, however, highlighted unreliable power supply, poor broadband in rural areas, and a shortage of digital skills as major threats that could stall progress.
On taxation, she pointed to initiatives like the six per cent Digital Services Tax (DST) introduced in 2022 and the electronic money transfer levy as signs that Nigeria was already capitalising on its growing digital marketplace.
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She argued that seamless digital payment systems could expand tax compliance, boost inclusion, and strengthen evidence-based policymaking.
On his part, FICAN Chairman, Chima Titus, reinforced the urgency of a deliberate strategy, noting that the ICT sector contributed 18.3 per cent to Nigeria’s GDP in Q2 2025, while digital payments surged past ₦600 trillion in the first half of the year.
“Globally, the digital economy is now the backbone of modern growth. Nigeria cannot afford to be left behind. A robust digital economy must rest on innovation, effective regulation, and an equitable tax framework,” Titus said.
Both speakers agreed that with coordinated action, Nigeria can harness digital transformation to diversify away from oil dependence, create jobs, and build a more inclusive economy.