Impact of Information and Communication Technology on Business Sector: A Qualitative Evidence from Nigeria

Abstract

Information and communications technology (ICT) is no longer an option for economies and business but a necessity. Its impact in the developed economies is huge and tremendous but poorly harnessed by developing countries, for instance, Nigeria. This study explores different adoption theories and delved deeply into the Stage of Growth of e-Business (SOG-e) model to explain how they can drive full digitization. Using Nigeria as a case in the emerging markets, the study selected seven key sectors in the Nigeria economy. Adopting a qualitative research, senior managerial personnel in each of the sectors were interviewed to determine their SOG-e. The results indicate that only the banking/financial services sector has achieved full digitization. Problems hindering full digitization include consumer, government and social factors. Implications of the study suggest that provision of necessary infrastructure and policy direction will enhance full digitization.

Keywords: Digital marketing, emerging markets, adoption theories, SOG-e