It is common knowledge, that the emergence of technology
companies (tech companies) in Nigeria like Interswitch, MainOne and
Andela, have led to the development and growth of Nigeria's
software market, as well as a booming e-commerce industry.
Companies such as Jumia, Konga, Dealdey, Paga and Payporte, by
leveraging technology, have continuously caused huge disruptions to
the conventional retail markets.
In terms of its contribution to the Nigerian economy, the ICT
sector has proven to be a great enabler. The Nigerian technology
industry has witnessed explosive growth at a geometric progression
of 34% year-on-year in the last decade; becoming the
fastest-growing, and one of the largest contributors to the
economy. Its contribution to Gross Domestic Product (GDP), grew
from less than 1% in 2001 to about 11.35% in 2017, and this can be
traced to the increased interest and participation of millennials
in that sector. According to the Nigerian Communications
