GEN Nigeria, along with several industry stakeholders, has called on indigenous enterprises to adopt new technologies to enhance their competitiveness and drive growth. During a recent conference held in Lagos, experts highlighted the critical role that innovation and technology play in the sustainability of local businesses.
The conference, themed ‘Harnessing Technology for Sustainable Growth’, brought together entrepreneurs, technology experts, and policymakers to discuss the challenges and opportunities facing indigenous enterprises in Nigeria. Speakers emphasized that the rapid pace of technological advancement necessitates a proactive approach from local businesses to remain relevant in an increasingly digital economy.
One of the key speakers, the CEO of GEN Nigeria, stated that embracing new technologies is not just an option but a necessity for indigenous enterprises. “In today’s market, businesses that fail to innovate risk being left behind. Technology can streamline operations, improve customer engagement, and ultimately lead to increased profitability,” he said.
Participants at the conference shared various success stories of local businesses that have effectively integrated technology into their operations. These case studies illustrated how digital tools have enabled companies to optimize their supply chains, enhance product offerings, and reach broader markets.
Moreover, the conference addressed the barriers that many indigenous enterprises face in adopting new technologies. Issues such as limited access to funding, inadequate infrastructure, and a lack of technical skills were identified as significant challenges. To combat these obstacles, industry leaders proposed collaborative efforts between the government, private sector, and educational institutions to provide the necessary resources and training.
A panel discussion featured representatives from various sectors, including agriculture, manufacturing, and services, who shared insights on how technology has transformed their industries. The panelists agreed that leveraging technology not only boosts efficiency but also fosters innovation, which is crucial for long-term sustainability.
In addition to discussing the benefits of technology, the conference also highlighted the importance of cybersecurity. As businesses increasingly rely on digital platforms, the risk of cyber threats grows. Experts urged enterprises to prioritize cybersecurity measures to protect their data and maintain customer trust.
The event concluded with a call to action for indigenous enterprises to invest in technology and innovation. Participants were encouraged to explore partnerships with tech companies and to seek out funding opportunities that support digital transformation initiatives.
As Nigeria continues to navigate its economic challenges, the adoption of new technologies is seen as a vital step towards enhancing the resilience and competitiveness of local businesses. Industry leaders remain optimistic that with the right support and commitment, indigenous enterprises can thrive in the digital age.
