By Richard Udofia
The President of the Nigeria Internet Registration Association, NIRA, Engr. Sunday Folayan, claimed that the Internet of Things, IoT, has brought positive impact on the country as the economic pattern of consumers in the value chain is gradually embracing the use of technology in their daily transactions.
Speaking to Glamtech, Folayan said that both IoT and the next generation of technologies and solutions would continue to make positive impact on Nigerian businesses and economy in general.
“The country now attracts more foreign direct investment from global firms, infant industries are gradually developing to competitive firms, investors are also buying into the current policies by the new administration, it is worthy of note that the internet has brought numerous positive impact to the nation,” he noted.
He recalled that a Nigerian online store was reported last year to have made impressive sales on a boxing day alone, which was more than the annual sales of the average store for the entire year. This development, he claimed, is an example of the positive impact that the internet has brought to businesses in the country.
Although, he pointed out that IoT would allow Nigerian businesses do more, with less human errors and minimum manipulations.
Because of the revolution taking place in the pattern in which business and other economic transaction are being sourced, he predicted that in the future, “vechicles will report risky driving patterns to the insurance companies directly, so that good and decent drivers will get better premiums directly, without anyone assessing them.”