Lagos Deputy Governor Pushes Businesses to Embrace Cutting-Edge Tech for Growth

In a compelling call to action, Lagos State Deputy Governor Obafemi Hamzat has urged Nigerian businesses to harness innovative technologies to stay competitive and drive economic progress. Speaking at a high-profile gathering hosted by the Lagos Chamber of Commerce and Industry, Hamzat emphasized that adopting advanced tools is no longer optional but essential for survival in today’s fast-paced global market.

Hamzat highlighted the transformative power of technology, pointing to Lagos State’s own success in digitizing revenue collection as a model. By moving away from outdated methods, the state slashed revenue leakages and boosted efficiency, setting a benchmark for others to follow. “The world is racing forward, and Nigerian businesses must keep up by leveraging innovation to streamline operations and unlock new opportunities,” he said.

The event, themed around navigating the evolving business landscape, drew industry leaders, policymakers, and entrepreneurs eager to explore strategies for growth. Hamzat stressed that technology, from data analytics to automation, offers practical solutions to longstanding challenges like inefficiency and high costs. He urged companies to invest in digital infrastructure and workforce training to build resilience and stay ahead of the curve.

Echoing the deputy governor’s sentiments, Muda Yusuf, a prominent figure in Nigeria’s business community, underscored the urgency of embracing innovation. “Businesses that fail to adapt risk being left behind,” he warned, citing global trends where tech-driven firms consistently outperform traditional models. Yusuf also called for stronger public-private partnerships to create an ecosystem where innovation can thrive, including better access to funding and supportive policies.

The discussion also touched on Nigeria’s broader economic potential. Hamzat noted that small and medium enterprises, which form the backbone of the nation’s economy, stand to gain the most from tech adoption. Simple tools like digital payment systems or e-commerce platforms can expand their reach and cut operational costs, he explained. He pointed to Lagos’ ongoing efforts to roll out high-speed internet and tech hubs as steps toward empowering local businesses.

Attendees left the event energized, with many expressing renewed commitment to exploring tech solutions. From artificial intelligence to cloud computing, the message was clear: Nigerian businesses must innovate to compete. Hamzat’s rallying cry serves as a timely reminder that embracing technology is not just a strategy for growth but a necessity for shaping a stronger, more dynamic economy.