Believe it or not, you need not be a tech guru or computer science student to legitimately earn in foreign exchange and from the comfort of your home.
The global economy is undergoing a rapid digital transformation and Nigeria is in the best position to reap benefits of the digital economy. Reports have it that the pandemic brought a 15 per cent Gross Domestic Product (GDP) increase in the tech economy, accelerated the adoption of technology solutions, massively increased new talents and tech roles, as well as a dynamic change in work structure. The Information Communication Technology (ICT) industry is a powerful driver of economic growth globally. Jobberman reports that the global digital economy is worth $11.5 trillion, which is equivalent to 15.5 per cent of the world’s GDP. The research indicated that Nigeria’s digital sector could add $88 billion and three million jobs to the economy by 2027. This growth was expected particularly when Amazon announced a job interview in August to attract some of Nigeria’s best talent to relocate to its U.S., Canada, and Ireland offices. Although tech firms and recruiters tried to discourage young Nigerians from taking the offer, that seems to be the genesis of their exodus.
A booming local market
Since 2017, tech startups have experienced an influx of investments from both international and local financiers, which has led to the creation of new jobs, as well as new opportunities for Nigerian youths. Between 2015 and 2022, Disrupt Africa stated that at least 383 startups have secured funding to the tune of $2,068,709,445 – a higher total than any other country. Who would have thought that a country with lots of economic, political, and social imbalance would be able to compete in the international tech space and even make a mark that is worth global brands competing for? As the industry grows, so does the demand for talent too; yet Nigeria’s labour market is underprepared for this digital disruption. Skill gaps have been identified as the major cause of unemployment. Although technology is a key pillar of the country’s new National Digital Economy Policy and Strategy 2020-30, the Global Competitiveness Report places Nigeria 122nd out of 140 countries in terms of digital skills development. To fully harness the sector’s potential, there is a need to invest in digital and soft skills.
According to Disrupt Africa’s ‘The Nigerian Startup Ecosystem Report 2022’, the financial technology sector accounts for almost half of Nigerian startup employment, with 8,653 jobs, while between the fintech, e-commerce, mobility and logistics, and e-health spaces account for 74.9 per cent of all jobs. Just like Amazon, Google, Microsoft, Andela and many other tech firms, organisations and government initiatives have championed trainings and organised new hiring programmes with relocation opportunities for Africans. This enticement came at a time when Ja-pa (a codename for those migrating without plans to return) is the new normal. Can the Nigerian tech space be saturated? There is still a great gap between the demand for talent and the supply. Startups particularly in financial technology would continue to spring up with innovations as much as job opportunities to transition into tech and subsequently become top talents.
Although the tech space is surprised by the sudden layoff by Meta, Twitter and even Amazon, many people are still getting jobs daily. The tech economy globally is now low with barriers from entry, and even those at entry-level with marketable skills are still sought after by different organisations overseas.
Top in-demand digital skills in Nigeria
Technology skills are needed in every industry. These are skills that one can learn from trainings and internships organised by the likes of Decagon, Semicolon, Talent QL, Utiva, Product Dive, AltSchool Africa, and even state government for better work opportunities in tech.
Some careers in tech require coding skills while non-tech-in-tech do not. Also, some tech skills are more in demand due to the impact and value they provide. Here are some in-demand skills that may align with your interest: Programming, Web & App Development – Computer programming is the process of instructing a computer to perform specific tasks by providing it with instructions written in codes that can be processed by the computer, while Web Developers design and maintain websites, constructing them to operate quickly and intuitively. Generally, this process hinges on strong programming skills — particularly in languages like JavaScript, HTML, Ruby, CSS, MySQL, and Python. Data Science and Data Analytics – Data is the new oil, hence the need for professionals who can analyse, process, and interpret them to guide business decision-making. Artificial Intelligence (AI), statistical tools, data mining, and machine learning are among the must-have skills.
Computer Systems Engineering – Computer systems engineers determine the scale of a company’s system and the right hardware and software needed to run it. They assist in building and testing a firm’s computer systems to ensure they meet operational and security needs. Social Media Management – Today, many businesses have scaled using online presence. Platforms like Tiktok, WhatsApp, Facebook, Twitter, and Instagram have become efficient virtual portals through which businesses can reach their customers. Digital/Growth Marketing – Digital marketing is an essential skill in the digital economy. A digital marketer needs to understand the trend, use data and analytics to help a company attract new customers and maintain existing ones. This role requires expertise in email marketing, System Engine Optimisation (SEO), Search Engine Management (SEM), blogs and newsletter management, digital ads, copywriting, community management – webinars and trainings and lots more.
Technical Writing – Technical writing can be defined as conveying your ideas, views, instruction, explanation, or suggestions logically and technically. It requires the writer to be knowledgeable in specific fields including academic, legal, medical, UI/UX, and product development. Technical Recruiter – These are the human resource specialists of the tech industry. They are in charge of sourcing, shortlisting, screening, and recruiting top tech talents. They are also in charge of onboarding, employee relations and retention, compensation, learning and development, and other basic HR duties. Product Manager – This is one of the most lucrative professions around the globe. Product managers identify a customer’s need and align it with the business objective. Ideate and articulate a product that will meet that need, then, mobilise a team to turn that vision into reality while maximising returns on investment. Technology is expanding what it means to be employable, thereby creating a digital talent gap in the process. Jobberman’s research showed that the pandemic increased the demand for skills in data analysis, technical project management, mobile design, technical support, IT business analysis, digital marketing, cybersecurity, product management, and full-stack engineering.
Startups and other tech businesses are making waves because of huge market opportunities, high investment inflow, and innovation within the sub-sectors.
Best tech companies currently operating in Nigeria
There are quite a number of companies currently making headway in the country. Let’s mention a few. SystemSpecs Group is one of the software development pioneers in Nigeria. Founded by John Obaro in 1992, the company developed the renowned Remita, HumanManager, Deelaa and FundACause, thereby dominating the payment and collections, human capital management, entertainment and fundraising space. It currently serves hundreds of thousands of individuals, businesses, organisations, and governments in Nigeria and beyond. Flutterwave was established in 2017 by Iyin Aboyeji and Olugbenga Abgoola and is headquartered in San Francisco. It is one of Africa’s fintech unicorns that raised $170 million in its latest round of funding to increase its customer base in the global market. It facilitates payment services for financial institutions and businesses to ensure seamless transactions within and outside Nigeria.
Interswitch was founded in 2002 by Mitchell Elegbe. The company is also one of Africa’s fintech unicorns that provides payment rails for Nigeria’s online banking system. Its latest investment would help it to scale digital payment services across the continent. Paystack was established in 2015 by Shola Akinlade and Ezra Olubi. It makes payment processes consistent for both consumers and the businesses they are attempting to pay. Carbon, formerly known as Pay later, is owned by One Finance and was founded in 2016. It is a loan app which gives short loans through its mobile app. The use of mobile phones to obtain loans makes the process seamless.
Why Now?
Nigeria has a fine blend of the working-age population, yet many of these young people find it difficult to be gainfully employed partly because their skills are not well aligned with the current job opportunities, or the roles are not even available. This is contributing to the mass migration and brain drain of talent from Nigeria to other supposed ‘greener pastures’.
Nonetheless, Nigeria remains the largest tech market on the African continent, with about 480 tech startups, 90 tech hubs and a growing and vibrant customer base. According to TechNext Nigeria currently has over 187,000 tech professionals. However, only about 28 per cent of them are unemployed while 27 per cent of them are under-employed, according to recently released data by the National Bureau of Statistics (NBS). The Nigerian tech ecosystem is a vibrant, innovative display of youth invention. Between 2015 and 2022, experts said 383 Nigerian tech startups raised $2.07bn, and within that time unicorns like Flutterwave, Interswitch, Opay, Andela, and co. were established. This implies that Nigeria’s tech industry would likely not follow the recent global trend of layoffs since talent is still quite scarce. Hence, the need for job seekers to acquire the needed technical and soft skills to be employable.
