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‘E-Commerce Boom Can’t Phase Out Traditional Stores’
An innovator, Mr Dayo Ayeni, yesterday said that traditional stores would remain relevant in spite of growth of e-commerce industry.
Ayeni, Chief Innovation Officer, BusinessPlus, said in Lagos that although e-commerce had made it easier for people to buy items from the comfort of their homes and offices, physical stores could not be phased out.
The chief innovation officer who spoke with newsmen, said that BusinessPlus is a digital business services agency.
Ayeni said that physical stores had the advantage of enabling buyers to feel items they would want to purchase.
“Even with the emergence of the e-commerce industry, thousands of consumers in Lagos, for example, still go to traditional stores at Isale-Eko, Computer Village and Balogun Market on a daily basis to purchase groceries, electronics and clothes, despite the stress involved.
“The fact remains that traditional stores allow consumers to interact with a range of products to make informed choices, aside from the advantage of being able to touch and see what they are buying.
“Online shopping is convenient in many ways, but that doesn’t mean it doesn’t have its disadvantages.
“For instance, delivery charges and time spent waiting for the product to arrive are not pleasant to many consumers,’’ he said.
Ayeni said that online shoppers were mostly corporate workers, who hardly had the time to go to physical stores to shop.
According to him, many consumers usually complain that items they ordered for online looked different when delivered.
He said that since all citizens were not educated and had access to the internet, the society would always need traditional stores.
“Shopping online requires the use of internet, and not all Nigerians have access to it, hence, the need for physical stores which accommodate both the literate and the illiterate.
“I am not to trying to rule out the fact that the e- commerce industry is making it big globally, but the truth is even most of the online stores now have physical stores as a front to sell their markets.
“The reality is that physical stores can never go into extinction, there will always be the need for them,’’ he said.
Reports say that according to the Global Consumer Insights Survey 2018 brick-and-mortar (physical) stores’ weekly shoppers grew by four per cent from 2016 to 2018, an indication that e-commerce cannot phase out physical stores.
The survey also found out that shopping is not just about convenience but also about experience, which, at the moment, only a physical store can offer.
Niesel Global Survey also shows that one of the biggest barriers to online shopping in Nigeria is inability of customers to inspect goods.
The survey says 78 per cent of Nigerian respondents believe the factor is a deterrent.
The Nigerian Inter-Bank Settlement System (NIBSS) says trust remains a major issue in online transactions as many Nigerians are in constant fear of online fraud and will do anything to avoid using their debit cards to process payments electronically.
According to data from NIBSS, year 2014 recorded 1,461 reported cases of electronic fraud, with actual losses grossing N6.216 billion.
In 2015, about 946 attempted e-fraud cases were also recorded by banks, other financial institutions and mobile payment operators, resulting in estimated N5 billion loss.
Ict/Telecom
NCC Assures Safe, Accessible Digital Space
The Nigerian Communications Commission (NCC) has assured Nigerians of accessible, resilient and safe digital space in the nation’s digital economy.
The Executive Commissioner, Stakeholders Management, NCC, Rimini Makama, gave the assurance at the NCC’s Digital Economy Sensitisation Forum, with the theme, “Leaving No One Behind: Digital Access, Equity and Empowerment” in Abuja.
Makama said that the commission remained committed to ensuring that Nigeria’s national telecommunications infrastructure remained resilient, accessible and secure.
“Digital empoScientists Advocate Shared Responsibility To Boost Food Securitywerment must be inclusive. Without inclusion and equity, the benefits of the digital economy will remain unevenly distributed.
“The commission, through its Universal Service Provision Fund (USPF) and other initiatives, is actively extending digital opportunities to the unserved, underserved, physically challenged and vulnerable groups through several impactful programmes,” he said.
The Publicity Expert for the Association of Telecommunications Companies of Nigeria (ATCON), Dr Nihinlola Fefa, said that the association had been an advocate of cyber security awareness and sensitisation over the years.
“ATCON has been a very key stakeholder in the ICT and telecom industry. We have always advocated for cybersecurity awareness and sensitisation.
“We have been giving our own input over the years. We interface with all the telecom companies. We do a lot of studies, and we also give our contributions in so many ways,” she said.
She commended the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, for deploying technology into rural communities.
According to her, though Nigeria is doing well in the area of cybersecurity, there is room for improvement.
“We are in a good position right now and we can do better from the government side,” she said.
Also speaking, the Head, IT and Cybersecurity, National Data Protection Commission (NDPC), Olorunisomo Isola, said that the commission had rolled out the necessary framework.
Ict/Telecom
Expert Tasks Nigerians On AI
An economist, Dr Chinedu Amadi, has urged Nigerians to leverage the opportunities inherent in Artificial Intelligence (AI) to become competitive in the global business and social spaces.
Amadi, who is also the President, Organisation of Youth in International Trade and Commerce (OY-ITC), gave the urge during an interview with newsmen , in Abuja, Monday.
Amadi noted that humanity has always advanced by expanding its intelligence and capabilities through technology across different eras pointing out that AI now drives economic systems, social interactions and competitive advantage among nations globally.
“The world is entering a phase where humans and intelligent machines will share cognitive functions, so Nigeria should innovate or risk being sidelined in the emerging global digital order.
“The next frontier extends beyond AI tools to a deeper relationship between human consciousness and machine intelligence. This phase has the dawn of shared human machine cognition shaping future innovation and development worldwide,” he said.
Amadi noted that countries like the U.S., Japan and China already integrated AI into national planning, logistics and defence operations.
He warned that a deeper wave of collaboration between humans and intelligent systems is rapidly emerging
urging Nigeria and other African nations not to remain passive observers in this technological transition.
“Nigeria must innovate urgently or risk missing another major industrial revolution. Future global leadership will favour nations that create, regulate and ethically manage advanced technologies,” he added.
He said that the youthful population is viewed as a potential cognitive economy capable of driving digital creativity.
He advised policymakers and institutions to develop indigenous technologies, reflecting national priorities and moral values.
The president, however, noted that energy and agricultural sector can gain efficiency through predictive AI and advanced computation, adding that governance can also benefit from digital systems that strengthen transparency and curb corruption.
While noting that neural interfaces and quantum processing would soon merge human thought with computationAmadi said that the evolution demands ethical guidance, empathy and deeper human conscience in education system.
According to him, nations worldwide are racing to regulate AI and Nigeria also needs to define its strategic position.
“The future beyond AI will favour societies that balance innovation with wisdom and uphold human dignity,” he said.
Ict/Telecom
NIGCOMSAT Expands Nigeria’s Digital Broadcast Subsector By 35%
The Nigerian Communications Satellite (NIGCOMSAT) Limited says the country’s digital broadcast subsector has expanded by 35 per cent to 75 per cent utilisation in two years.
This, it said, represented a milestone in the country’s digital transformation drive.
The Managing Director, NIGCOMSAT, Mrs Jane Egerton-Idehen, made the remark at a retreat with the theme: ‘Aligning for the Future: Innovation, Collaboration, and Sustainable Growth”, in Abuja, Monday.
According to her the theme reflects NIGCOMSAT’s commitment to driving Nigeria’s digital transformation and positioning itself as a global satellite industry leader.
She said one of the notable achievements in its broadcast segment was the Digital Switch Over (DSO) project, describing it as not just a technical milestone but also a national service.
“This growth is a testament to the organization’s improved service delivery and stronger engagement with partners and clients.
“The DSO project, a collaborative effort with the National Broadcasting Commission (NBC), is a key milestone in Nigeria’s digital transformation.
“NIGCOMSAT’s contribution to the project is enabling digital broadcasting penetration across the federation, cementing the organisation’s position at the centre of Nigeria’s digital transformation,” she said.
Egerton-Idehen said the achievements were expected to drive revenue growth, with target of three billion naira in annual revenue and eight billion naira in revenue within three years adding that the organisation’s expansion of broadband services and private sector partnership was key to achieving the goals.
“We cannot move boldly into the future without addressing the weight of the past. Our debt profile — both financial and operational — is a reality we must confront with strategy, discipline, and creativity.
“These are our headwinds. We acknowledge them openly because honesty is the first step toward transformation.,” Egerton-Idehen said.
She said in spite of challenges such as economic barriers and competition, the organisation remained optimistic about the future.
“We must out-innovate the market, deepen partnerships, and build a culture of solution-focused, profit-driven, and people-centered excellence.”
“The key initiatives include transitioning to software-defined satellites, expanding broadband services, and the NIGCOMSAT Accelerator for the Space Ecosystem.
“The organisation is prioritising public-private partnerships, branding, and communication, as well as investing in its people,” she said.
The Chief Executive Officer, Data Science Nigeria, Olubayo Adekanbi, said satellite-based economy could revolutionise key sectors such as agriculture, health, and education, creating new job opportunities and increasing productivity.
“By providing internet access to remote areas, satellite technology can bridge the digital divide and ensure no one is left behind.
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