By Prince Osuagwu

Executive Chairman of IoT Africa, Lare Ayoola, has said that the number of companies across different sectors of the Nigerian economy adopting emerging technologies like the internet of things (IoT) will continue to grow due to the immense capabilities the technology bring into business operations.

Ayoola said that many business executives and managers have assessed and accepted the increased awareness IoT create to the security and efficient running of their businesses. The industries keen on the adoption of IoT, according to him, include agriculture, logistics, power, manufacturing, financial services, health and safety industry, real estate, as well as the oil and gas industry.

He said the growing adoption has seen IoT Africa sign mega-deals with operators in Nigeria’s oil and gas industry, mainly because the downstream oil industry is plagued with losses, risks, and theft which needed IoT to save at least 30-40 percent of those losses.

Internet of things refers to interconnection of computing devices embedded in everyday objects, enabling them to send and receive data, through the internet.

According to Ayoola, his company, IoT Africa, a subsidiary of Tranter IT, built the first phase of IoT network, last year, which is now in full deployment in states like Lagos, Ogun, Rivers, and the FCT.

He said: “The good news is that the network has been very stable. We have tested it with numerous devices and we found out that the connectivity is excellent. We are about to move into the next phase where we will be covering the rest of the country and that will start within the next two to three months,” he added.

Explaining why Nigerian companies will continue to deploy IoT, Ayoola said: “Beyond oil and gas, IoT also holds prospects for financial services in terms of safety and security. There was a case in one of the banks where a power outage occurred, and the UPS kicked in. The technician who knew how to start the generator was not available, and a staff tried to fill in. The generator did not start, the batteries in the UPS died, and the entire data center of the bank went down.

 “It took them at least half a day to bring it up. So they lost half a day’s worth of business. Had there been IoT sensors installed in that data center to monitor the battery of the UPS, or monitor the supply of electricity from the PHCN and the generator, that catastrophe would have been averted. A signal would have been sent to the bank’s central command, and they would have sent someone physically to solve the problem. From that incident, they would have also had data to analyse and prevent that sort of problem in the future.”

Ayoola said his company; IoT Africa was recently honoured with an award at the Titans of Tech awards ceremony which held recently in Lagos, Nigeria, for its efforts at pushing the adoption of internet of things in Nigeria. The parent body, Tranter IT also received the ‘Outstanding IoT Provider of the Year Award’

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