Nigerian youth adopt ICT to lead in entrepreneurship

Magnus Nmonwu, Regional Director for Sage West Africa.
Magnus Nmonwu, Regional Director for Sage West Africa.

LAGOS, (CAJ News) – NIGERIA is undergoing a major shift in how businesses are run, with young entrepreneurs making their presence felt thanks to a massive adoption of information and communications technology.

This is according to an international market leader for integrated accounting, payroll and payment systems.

Sage, the market leader, said young Nigerians were mobile-first people with technology inspiring youthful entrepreneurs to create businesses that could not have existed in the past.

Sage research indicates 96 percent of young Nigerian entrepreneurs say that they still felt the same excitement about their business as they did when they first started it while 44 percent say they will start over five businesses in their lifetime.

Some 42 percent say they would have still been able to run their business with the technology available 20 years ago while 16 percent say that they get out of bed in the morning because they want to make a difference in the world and do some social good.

Looking to the future, in the next decade, 33 percent of Nigerians surveyed believe that technology will make the concept of  your desk
defunct and that, in future, everyone will work remotely and flexibly, via a mobile device.

Additionally, 45 percent agreed the workplace will have more virtual  staff, working remotely and flexibly, while 23 percent said that they will  save money on office space and overheads.

Its intriguing to hear how young entrepreneurs are already transforming their businesses with technology, and how they expect to see the landscape keep evolving in the years to come, said Magnus Nmonwu, Regional Director for Sage in West Africa.

Nigeria’ s population is estimated at about 187 million. It is mostly young with the median age put at 18 years old.

CAJ News

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