Following the downturn in the international price of crude oil and its effect on oil-dependent economies like Nigeria, Nigeria’s president, Muhammadu Buhari has reaffirmed his administration’s commitment to foster the development of non-oil sectors and the speedy diversification of the country’s economy. Reacting to the president’s plan, experts have continued to urge the president to focus on Trade and Commerce and how technology can be used to drive it.
Trade and Commerce are fast becoming an indispensable component of the non-oil sector of the Nigerian economy. The Wholesale and Retail space for instance currently accounts for about $100 billion. This according to a McKinsey report has the potential of increasing to $300 billion by 2030.
Speaking on how the growth in Trade and Commerce can be enhanced for national development, the Media spokesperson of Supermart.ng, Oluwatayo Alofun noted that there is a need to create an atmosphere for buyers to buy more and sellers to sell more. He noted that when sellers can make more sales it leads to business expansion which automatically creates room for more employment and also contributes to national growth.
He says, “The current traditional Wholesale and Retail business as we have it today is generally unorganized. What e-commerce companies like Supermart. ng have done however is to organize the market such that consumers can get everything they want in just one spot. This makes them buy more. This explains why Supermart.ng has partnered with leading supermarkets and local markets to put up a one-stop shop online with over 60,000 items including Fresh food, snacks, alcohol, Nigerian ingredients, office supplies and baby products among others which will be delivered to buyers in as early as three hours of order”
For this to be possible, a chain of different job roles has to function together. In the case of Supermart.ng, for instance, some merchandisers go out to take inventory of the products, and there is also a team of personal shoppers who professionally picks the products and package them. After the packaging, there is a team of well-trained drivers who ensure that products are delivered in good condition to the buyers. A team of customer care attendants also exists to ensure that customers are satisfied with the service. In this way, e-commerce creates jobs across multiple industries, including operations and logistics.
In essence, the use of e-commerce in the diversification of the economy will not only increase revenue but will reduce unemployment through the creation of multiple jobs.
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