Experts in global export business say that the success of local export business in Nigeria in the 21st century depends on digital marketing operations.
Mustapha Yusuf Ismaila, Faculty of Marketing, speaking at a capacity-building program on “Using e-commerce to facilitate the export business of SMEs and other exporters” hosted by the Nigerian Export Promotion Council (NEPC) in Ilorin on Wednesday Dr. Ilorin University’s School of Management Sciences said the nation’s efforts to diversify the economy through non-petroleum export product businesses can only be achieved by trying to showcase the products through the internet.
“There are approximately 8 billion people in the world, of whom 5.4 billion are connected to or use the Internet (Internet World statistics 2022). Of this number, according to the same source, 600 million are from Africa, of which 109 million are now from Nigeria.
“Also, 15.5% of the world’s GDP comes from the digital economy, Africa’s digital economy will reach N300 billion by 2025, and Nigeria is worth N100 billion in revenue.
“In this 21st century, any organization that wants to perform and succeed must transform into a digital or internet operation or risk being left behind, especially exporters from Nigeria. Even our efforts to diversify our economy through non-petroleum export product businesses can only be achieved by trying to showcase our products through the internet.
“Digital business tools are essential for domestic SMEs to track business impact. It is the digital economy that is driving economic growth around the world in innovation and competitiveness. Because we cannot compete well with our friends in developed countries.
Dr. Mustafa said that digital operations have unique challenges, such as moving from manual to digital economy platforms, heavy investment, security of assets in relation to data loss and network provisioning, and the challenges are not meant to be one. I quickly added that no babies should be thrown out with the bath water.
“There are also opportunities. Our organization must seek to leverage our strengths and capitalize on opportunities to overcome challenges in a competitive environment.”
In a speech at the event, Dr Ezra Yaksak, Executive Director/CEO of NEPC, represented by Kwara State Trade Promotion Advisor Ajay Akinwummi James, said the main restrictions faced by exporters include: said the council found it contained a lack of competence. He added that the training program would provide local exporters with a more convenient and easier way to introduce Nigerian products to the world.
“Wanting to expand the economy through foreign exchange income, job creation and economic growth, the Council developed this program to reduce the physical stress faced by exporters, fully utilizing the online trading platform.” he said.
Also, Ambassador Ibrahim Akaje, State Commissioner for Business Innovation and Technology, said the lack of up-to-date digital marketing knowledge and dynamics is one of the main reasons why Nigerian exporters fail in international markets. rice field.
The commissioner said the role of digital platforms in the economic revolution cannot be overemphasized, adding that “digitization will transform the economy of doing business across borders and lower international costs.”
interactions and transactions. The digital revolution creates markets and user communities on a global scale, providing businesses with a huge base of potential customers and effective ways to reach them.
“The benefits of e-commerce and digital commerce are clear, abundant and undisputed. The 21st century economy will not only enable more transactions, but also connect previously unconnected things to global markets. Electronic transmission will undoubtedly drive Internet penetration and mobile connectivity.”
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