BrandArena: Online Businesses Fueling Nigerian Economy

Tuesday, 23 September 2014

Online Businesses Fueling Nigerian Economy

The Managing Director of Africa’s largest online hotel booking platform Jovago, Marek Zmyslowski, at the ongoing 3rd EU-Nigeria Business Forum has stated that online businesses have contributed to the growth of the Nigerian economy.

In a statement made on a panel discussing private sector contribution to Nigeria's growth at the EU - Nigeria Business Forum held yesterday, Marek Zmyslowski stated that with the influx of online businesses in Nigeria, the economy has seen a significant boom. Zmyslowski was on the panel with the Deputy Minister of Economy, Poland, Andrzej Dycha; UK Trade Envoy to Nigeria, David Heath MP; Head of EU Delegation to Nigeria, Ambassador Michael Arrion; Regional Director, Peugeot Nigeria, Eric Maydieu; CEO, National Competitiveness Council of Nigeria (NCCN), Chika Mordi; World Bank Lead Economist, John Litwack; Director, Orleans Invest, Simone Volpi and a representative of the Hon. Minister of Industry, Trade and Investment, Olusegun Aganga all of whom held varying opinions on the position of the Nigerian economy and what it stands to gain from executing the proposed free trade agreement.

As Zmyslowski noted, “Agriculture and Oil used to be the leading sources of the Nigerian economy, but with the rebased GDP it was shown that these two industries together only account for 37.9% of the Nigerian economy. A bigger percentage of 51% was allocated to services of which online businesses like play a big part of.” He went on to say that “the rebasing of the GDP merely reinforced the fact that Nigeria is the biggest economy in Africa, a fact which has been long evident from Nigeria’s booming economy”

This EU-Nigeria Business Forum, which is the 3rd one that has been in held in Nigeria so far, is set to showcase European trade in Nigeria and discuss possible business growth for Nigeria. The EU-Nigeria Business Forum is being organised by the EU delegation to Nigeria, a number of EU Member States and the Nigerian government. The forum is expected to bring together, policy makers and business representatives with the aim to boost trade relations between Europe and Nigeria.

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