By Juliet Umeh

Stakeholders at the Interswitch Retail Summit have called for stronger collaboration between the private sector and government to unlock new opportunities for retailers and drive sustainable growth across Nigeria’s retail ecosystem.

They stressed that enabling policies, improved infrastructure, and inclusive financial systems are critical to improving efficiency, boosting profitability, and supporting scalability in the country’s fast-evolving payments and digital commerce space.

The call was made at a summit hosted by Interswitch, which brought together key players to explore strategies for navigating the changing retail landscape.

Speaking at the event with the theme: The Modern Retail Playbook: What Works, What’s Changing, What’s Next?, Vice- President, Sales and Account Management, Interswitch, Osasere Atohenghe, said the forum was designed to move beyond identifying challenges to implementing solutions.

“We are at a defining moment where consumer expectations are evolving rapidly. Customers now demand speed, reliability, security, and seamless experiences across every touchpoint,” he said.

In his keynote, Faculty Member at Lagos Business School, Chidi Okoro, highlighted the convergence of digital and physical retail.

“Businesses must design models that reflect this integration, leverage data, and strengthen inventory intelligence.

Innovation requires sustained investment,” he said.

Also speaking, Group Head, Growth Marketing at Interswitch, Olawale Akanbi, said the impact of the summit would depend on how businesses translate insights into action.

“The real impact will be seen in how businesses refine strategies, adopt technology, and build partnerships that drive growth,” he noted.

Head of Business Development, West Africa at NIQ, David Emeh, called for increased investment across the retail value chain, stressing the need for structured data to improve decision-making and profitability.
The summit also highlighted how integrated payment solutions can reduce checkout friction, improve reconciliation, and enhance revenue retention.

Stakeholders agreed that sustained collaboration and investment are key to building a resilient retail sector.