Sunday, May 19, 2024

Fintech: Nigeria’s GDP Growth to Hit $6bn by 2026

Nigeria has been rated as the leader in real-time digital payments, with a forecasted additional GDP growth of US$6 billion by 2026.

An expert in digital economy and financial technology and author of a book titled ‘Exploring the Prospects of Fintech in Nigeria’, Dipo Fisho gave the indication in the book scheduled to be launched on Saturday, February 10, 2024, in Abuja.

According to the organisers of the book launch, the groundbreaking book seeks to address the benefits of recent innovations in the financial industry and delve into the challenges of the digital economy in Nigeria.

“The book is a Festschrift for Dipo Fisho, with 25 chapters that have been thoroughly researched and reviewed by scholars, technocrats, and professionals in different fields.

“These chapters are tailored to provide solutions and more insight into the challenges of fintech in Nigeria.

“It highlights the transformative impact of Fintech and digital payments on Nigeria’s economy, emphasising the country’s leadership in real-time digital payments, the government’s support for the digital economy, and the potential for further growth and development in the financial technology industry.

“The rise of fintech and digital payments is revolutionising Nigeria’s economy, driving economic growth and financial inclusion.

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“Government reforms, technological innovations, and investment in the financial sector have created fertile ground for Nigeria’s digital economy, with a growing fintech space and increasing traction in the payments industry.

“The country’s information and communications technology sector continues to play a pivotal role, with Nigeria being Africa’s largest ICT market and significant potential in the digital financial services and fintech sectors.

“Nigeria’s fast-rising tech-savvy population has embraced Fintech solutions with enthusiasm, propelling the industry towards new heights. Mobile banking and payment apps are gaining traction, contributing to a dynamic and inclusive digital ecosystem.

The book provides valuable insights into Fintech evolution, challenges, and the impact on the broader financial landscape.

“It would be of interest to entrepreneurs, investors, policymakers, and anyone keen to understand the dynamic intersection of finance and technology in Nigeria.”

According to the organisers, the book launch would be graced by eminent personalities, including Chief Host, Professor Ezekiel Asemah; Acting Vice Chancellor, Glorious University, Ogwa; Chairman of the Occasion, Executive Vice Chairman/CEO, Nigeria Communications Commission (NCC), Aminu Maida; Chief Launcher, High Chief Eniola Fayose; and the book reviewer, Omoniyi Ibietan.

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