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- The Federal Government has been admonished to leverage on the growing e-commerce industry for sustenance of its economic diversification policies.
- Nigeria’s electronic commerce market is estimated to have a potential value of $10 billion with about 300,000 online orders currently being made on daily basis.
- Although e-commerce in Nigeria is still in its early stage when compared to other countries, the market is developing rapidly with estimated output growth of 25 per cent annually.
- Sales by the three leading online stores averaged $104 million in 2014. Also, the sector has attracted $200 million foreign investment since 2012. Experts therefore advised the federal government to use the online stores to market the small and medium-sized enterprises (SMEs), which they stated are growth engine for Nigeria’s economy.
- While stressing that the leading online retail platforms are already incorporating SMEs to drive their businesses, sources said the medium could be used to market made-in-Nigeria products to Nigerians in diaspora. This, the sources added, could stimulate growth of the non-oil economy and contribute to its diversification in the medium to long term.
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RMAFC submits political office holders’ pay review to Tinubu
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