Top 7 Trends that Will Shape Nigeria’s ICT Sector in 2024

Top 7 Trends that will Shape Nigeria’s ICT sector in
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In the last few years, Nigeria’s information and communication technology (ICT) sector has grown and changed a lot. In the second quarter of 2022, 18.44% of the country’s GDP came from this sector, according to the National Bureau of Statistics (NBS).

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The government has put in a lot of work to help the ICT sector grow and to give more people access to ICT infrastructure and services. This has been done through plans like the National Broadband Plan and the National eGovernment Master Plan. Both of these plans aim to increase the use of ICT in government operations and services.

The Nigerian ICT sector does have some problems, such as a lack of reliable and affordable electricity, multiple taxes, regulatory bottlenecks, limited access to ICT infrastructure in rural areas, and a lack of skilled ICT professionals. Even with these problems, the sector has continued to grow, and it has the potential to play a big part in the economic growth of the country.


Here are some trends that could shape and affect the development of ICT in Nigeria in 2024

More people will use cloud computing

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As Nigerian businesses try to cut costs and work more efficiently, many will use cloud computing solutions to store and process data. In this field, there are more and more important players, such as Rack Centre, Cloudflex Computing Services Limited, and Layer3Cloud.

The e-commerce industry is growing

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Nigeria has a large population that is growing quickly, and the use of mobile devices and internet access has made e-commerce easier to use. Since electronic payments and logistics are getting better, the trend of growth is likely to continue in the coming years. Konga, Jumia, and Jiji keep showing what can be done in this space.

READ ALSO: Top Cheapest Android Phones Below 40k in Nigeria – 2024

Expansion of mobile broadband

The demand for data services and the rollout of 4G and 5G networks are expected to keep driving the growth of mobile broadband in Nigeria. In 2021, the Nigeria Communications Commission (NCC) gave 5G licenses to MTN Nigeria, Mafab Communications, and Airtel. This December, Airtel will join the party. People know that MTN has started offering services in some cities. There will be more 5G service rollouts and better access to them by 2023.

The rise of fintech

The fintech industry in Nigeria has grown a lot in the past few years, and this is likely to keep happening as more people use digital financial services. Reports say that more than 200 fintech companies in Nigeria are quickly helping to close the gap in financial inclusion. Businesses that deal with mobile payments, digital banking, merchant solutions, and personal finance are all part of the fintech ecosystem. Some of the biggest companies in this space are Interswitch, Flutterwave, Paystack, PiggyVest, Paga, and E-tranzact.

Increasing use of artificial intelligence (AI)

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Nigeria is looking to use technology to solve problems and improve services, so it is likely that AI will be used more in areas like health care, education, and agriculture. IoT Africa Networks Limited, Kobo360, and Data Scientists Network are some of the early players.

The outsourcing industry is growing

Nigeria is a good place to outsource to because its workers are well educated and its labor costs are low. This trend is likely to keep going as long as companies try to outsource some business tasks to save money, improve productivity, and make more money. Renda, Philip Outsourcing, and Workforce Group are three of the most important companies in this space.

More people will use digital skills

As the ICT industry grows, people with digital skills will be in higher demand. This trend is likely to lead to the creation of training programs and other initiatives that help people get the skills they need. Different levels of government are putting in a lot of work in this area.

Through its subsidiary, the National Center for Artificial Intelligence and Robotics (NCAIR), the National Information Technology Development Agency (NITDA) is training one million developers, with a focus on Python for machine learning and data science. The Lagos State Government has also started the Second Phase of the Eko Digital program, which aims to teach cybersecurity skills to one million young people in the state. In the private sector, there are a lot of other projects going on.

Wrap-Up: ICT will continue to be a big part of the economy for a long time to come. In 2023, however, the ICT space will be dominated by building up people’s skills and putting in place infrastructure.