Employ e-commerce to fast track economic diversification, Buhari told

Posted by News Express | 13 September 2015 | 3,492 times

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President Muhammadu Buhari has been advised to focus on trade and commerce and how technology can be used to drive it, as he seeks to diversify the country’s economy away from oil.

E-commerce expert, Oluwatayo Alofun gave the advice in a statement he issued in Lagos. He noted that trade and commerce is fast becoming an indispensable component of the non-oil sector of the Nigerian economy, saying: “The wholesale and retail space for instance currently accounts for about $100 billion. This according to a McKinsey report has a potential of increasing to $300 billion by 2030.”

Speaking on how the growth in trade and commerce can be enhanced for national growth, Mr. Alofun noted that there is need to create an atmosphere for buyers to buy more and sellers to sell more. He further noted that when sellers are able to make more sales it leads to business expansion which automatically creates room for more employments and also contribute to national growth.

Mr. Alofun observed that “the current traditional wholesale and retail business as we have it today is generally unorganised.”

He said that “the use of e-commerce in the diversification of the economy will not only increase revenue but will reduce unemployment through creation of multiple jobs.” 

•Photo shows Mr. Alofun.


Source: News Express

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