The latest data released by the National Bureau of Statistics (NBS), on the gross domestic product (GDP), showed that the ICT sector of the Nigerian economy grew by 14.70 per cent in the last quarter of 2020… The sector did not only emerge as the fastest growing one, it is also rated as the only sector to have posted double digit growth at 12.90 per cent in the entire GDP assessment.
Technology has continued to assert itself as the dominant force in the human situation at this point, with the potential to lead many developing countries into prosperity and prominence. Access to technological innovation is providing a tremendous boost to most emerging economies.
In many ways, technology is helping developing economies to reduce the cost of production, improve efficiency, service delivery, and encourage the growth of new businesses, especially, Small and Medium Enterprises (SMEs) across all sectors.
Those startups are leveraging emerging technologies and innovations to create employment opportunities and expand entrepreneurial activities.
Advanced economies have adapted to technological innovations and prioritised them to give their businesses the competitive…