The Roles of Information and Communication Technologies (ICTs) and E-Commerce as Agents of Nigeria’s Economic Development: Review of Challenges and Prospects

Abstract

Electronic commerce which denotes the process of electronic transaction via internet has led to a very significant improvement in the level of growth, development, efficiency and productivity of global economies. In order to benefit from the economic opportunities offered by electronic commerce, Nigerian government and business organizations needs to effectively integrate Information and Communication Technologies (ICTs) as the major component of e-commerce campaign initiatives. The discussion in the paper is centered on e-commerce and ICTs and their resultant effect on Nigeria’s economic growth and development. This paper has presented an in-depth discussion of the various types of e-commerce, the major contributions of e-commerce to the economic growth of Nigeria and finally the challenges that impede the growth of e-commerce in Nigeria were identified and the possible recommendations for solutions to those challenges were provided.