Technology is a crucial driver of Nigeria‘s economy – Alerzo Group CEO

The group CEO of Alerzo, Adewale Opaleye, has said technology will drive Nigeria’s economy forward provided the government continues to create a conducive environment and friendly regulatory policies.

 

Opaleye made the disclosure on the back of a recent GDP report by the National Bureau of Statistics (NBS) that the ICT sector contributed 18.44 percent to Nigeria’s GDP in the second quarter of 2022.

 

Alerzo is a leading business to business e-commerce platform serving informal retailers and micro businesses in the country by using technology to solve most of the perennial problems associated with informal retail in Nigeria.

With more friendly policies, Opaleye stated, e-commerce tech firms like Alerzo which has over 3,000 employees will be further equipped and positioned to create more employment opportunities and provide more solutions to informal retailers and other segments in the trade space.

“The informal sector classified into micro, small and medium enterprises (MSMEs) makes up 50 percent of the nation’s gross domestic product (GDP), making it the major source of economic growth, productivity, and competitiveness. Moreover, 90 percent of Nigeria’s retail market transactions happen in the informal channels, and the food and consumer goods retail market is worth (estimated) over $40 billion,” Opaleye noted.

He added: “Nigeria has a predominantly youthful population. In 2019, it was estimated that about 65 percent of the population are between 0-24 years old. This is a great asset. Unfortunately, the population of youths is far more than the available jobs.  The good part of this is that most of these youths are digital natives, which means the digital economy can create employment for them. Aside from Alerzo operations and logistics services that employ thousands directly, we’re also enabling the retailers to create more jobs for the Nigerian youths, especially in the rural areas.”

Alerzo was founded to address most of the challenges that informal retailers face in Nigeria. Within two years of operations, Alerzo has deployed technology in addressing the challenges of informal retailers who are on its  platform. With its delivery services, retailers save time, energy, and resources that they would have otherwise expended in restocking.

With its innovations and involvement in B2B e-commerce, Opaleye expressed much hope for growth opportunities provided government’s policies come friendly in regulating the sector.

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