By Jemimah Wellington, JKNewsMedia Reporter
NIGERIA’s HEAVY reliance on oil has exposed the nation to global economic shocks, according to 9mobile’s CEO, Obafemi Banigbe.
He highlighted the need for economic diversification during the 2024 BNI National Business Conference in Abeokuta, Ogun State.
Banigbe noted that the current economic situation, worsened by the Naira’s depreciation, calls for immediate action to build a more resilient economy.
Banigbe emphasized the growing role of Nigeria’s technology sector, which he described as the fastest-growing industry in the country.
With over 500 startups in key cities like Lagos, Abuja, and Kano, the sector holds significant potential for driving non-oil exports.
“Our tech ecosystem is vibrant, and with a population exceeding 200 million, the opportunities are immense,” he said.
He also pointed to agriculture as another sector with vast untapped potential.
Currently employing 35% of Nigeria’s workforce, agriculture could play a crucial role in economic transformation with the right investment and support.
Banigbe added that sectors such as fintech, e-commerce, and education technology are also pivotal in transforming Nigeria’s economy.
“Fintech is revolutionizing our payment systems, and platforms like Flutterwave and Paystack are paving the way globally,” he explained.
He concluded by stating that 9mobile is positioning itself to support the growth of these sectors, ensuring that Nigeria can harness these opportunities for future economic stability.
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