Stakeholders in the Information and Communication Technology (ICT) are, however, concerned over issues that may obstruct the projected growth.

They pointed out that the government needs to pay attention to providing adequate ICT infrastructure, as this will reflect on the socio-economic and technological development of a digital economy.

Michael Olawale-Cole, the President of Lagos Chamber of Commerce and Industry (LCCI), at the eighth edition of Information Communication Technology and Telecommunication (ICTEL) Expo made known that the multiplier effects of an effective and efficient digital infrastructure on national development cannot be less emphasised.

The shortfall in infrastructure has created a drive for tech companies like Alerzo, Konga and Jumia to create their own infrastructure from the ground up in order to provide efficient services.

For example, Alerzo has created an end-to-end cocoon within its business-to-business e-commerce platform, where it delivers fast moving goods (FCMG) to retailers in different cities across Nigeria.

Owning over 400 vehicles, goods are delivered to the retailers even in hard to reach locations, free of charge.

The creation of proprietary infrastructure by these tech firms often compliment the government’s efforts.

As such, the provision of digital products such as Alerzoshop, Alerzopay, Veedez and others built partly by local talents help in promoting the growth and profitability of informal retailers and micro businesses.

For example, through its Alerzopay PoS terminals, informal traders are empowered with an extra stream of income in addition to the ease and profits they get as subscribers on the e-commerce platform.

In a previous statement, group CEO of Alerzo, Adewale Opaleye said: “To provide a solution to the problem of logistics, we ended up doing something unthinkable by buying a fleet of vehicles and owning our warehouses. We own over 400 vehicles which we use in delivering fast moving goods (FCMG) to customers. We do deliveries within four hours of order because we own our entire vehicles.

“We geo mapped areas of coverage and helped develop softwares to provide banking solutions to customers. Our Veedez app, for example, was designed to support micro, small and medium enterprises (MSMEs) with easy-to-use bookkeeping and inventory tracking systems.”

Stanz’s case is not any different as he always struggles calculating how much profit he makes from his sales.

He also does not remember to restock some items in his store until customers come to demand such items.

Mrs. Oluwadare’s case is different as she is on top of her business, calculates her profits easily, tracks her stock and gets promptings through Veedez, a bookkeeping and inventory management app, that replaces the traditional paper and pen bookkeeping, which is unreliable and ineffective for her business. 

She is one of many operators of micro businesses that are benefitting from the growth opportunities business-to-business tech firms are offering their subscribers.

With technology, diverse businesses are getting relatable solutions to their challenges. They are being offered better ways of carrying out transactions and getting things done with an increasing profit.

During its Veedez app launch, Alerzo, a topmost business-to-business tech firm, said the business management app was designed to support micro, small and medium enterprises (MSMEs) with easy-to-use bookkeeping and inventory tracking systems.

The Veedez app reinforces its mission of using technology to transform local businesses, and support small enterprises with the right digital tools.

With the app business owners can save time, get paid faster, and manage their business better and stress-free from their smartphones. With Veedez on their phones, MSMEs can easily create and send professional invoices to customers in seconds, record and receive payments for goods from customers instantly through any preferred payment option, including cash, card, POS or bank transfer. 

“Ultimately, Veedez will increase the business management skills of these business owners and help them drive business growth by providing them with vital information and insights needed for scaling of their businesses,” Alerzo’s Group CEO, Adewale Opaleye stated.

Attesting to the benefits of the Veedez app, a subscriber on Alerzo shared: “They (Alerzo) introduced me to the Veedez app which has greatly aided me; I am now more at ease and I no longer track my stock on a piece of paper.  Even when I am not in the store, the app alerts me when I am running low on supplies. I then contact my children to inform them of the shortage and advise them to place an order on the Alerzoshop app.”