Nigeria Financial Info, Market Reports



Unlocking Internet-Based Business Opportunities in Nigeria - By Jonah Iboma

The Internet has today grown to become a significant part of our everyday lives, delivering solutions that were never thought of as possible both at home, in the school, as well the workplace.

Though initially designed as a means of communications for the American military and also in the academic community, the Internet has gradually evolved into a leading medium for education, business transaction and information dissemination.

Today, the Internet is being used as a payment method, telecommunication traffic is also carried through the Internet and even video and audio services is among many services possible today on the Internet.

Advertising and electronic commerce have also become big businesses through the medium. In fact in 2006, revenue from online advertising in the United Kingdom overtook advertising in other medium for the time in history.

But despite this reality, Nigerians are not among major players in this big global business.
Experts, however, note that with proper planning, Internet can be a veritable source of income for individuals and even corporate bodies.



Managing Director of Kemson Concepts, Mr Ben Aduli, said the Internet provides an almost endless source of financial income. According to him, with good access, one can sit in the comfort of his home, provide Internet-based solutions to people in several parts of the world, and rake in some good income from such business.

He said there are services requiring people to make data entry and simply send the results back. The President of the Nigerian Internet Group, Mr. Lanre Ajayi, says the body had realised that many Nigerians were not using the Internet optimally as they should to better their lives and was therefore out to change the situation in the' country. According to him, there is more money in Internet content if people can devote time and effort to such. He says while in the past, infrastructure seemed to be a better source of income, content had overtaken it.

"Most of the businesses that we do today would enter into online formats in the years to come. This creates room for business," he says. He noted that for anyone intending to be part of the Internet financial revolution, "creativity is the word." "People have to be creative to have successful online business, he says ..

He said an example of creative online business that the NIG had identified is that of an individual who has digitised all the past questions of JAMB and their answers. According to him, the problem with the solution is identifying an effective online payment system that will allow users to access it without problem and would also ensure that the owner of the site gets money due him Other Internet businesses that Ajayi identifies include electronic government solutions, classified advertisement and electronic learning.

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