Video: eTranzact MD highlights critical insights on ‘AI Readiness for Nigerian SMEs’ at report launch
R:L: Executive Director, Technology eTranzact Plc; Mr. Olayiwola Okunola MD/CEO, eTranzact Plc, Mr Niyi Toluwalope,Director Programs& Partnerships, Enterprise Development Centre, Dr. Olawale Anifowose, DGM Financial Services & Partnerships eTranzact Plc, Mrs Abimbola Reis and Lead Monitoring, Research, Evaluation & Learning EnterpriseDevelopmentCentre, Dr. Stanley Ibeku at the Media Unveil of AI Readiness of Nigerian SMEs
eTranzact International Plc, in partnership with the Enterprise Development Centre at Pan-Atlantic University, today launched a groundbreaking report on “AI Readiness of Nigerian SMEs.”
Speaking on the report during the launch in Lagos today, the Managing Director/CEO of eTranzact International Plc, Mr. Niyi Toluwalope, said as a leading fintech company, eTranzact views Artificial Intelligence not as a distant prospect but as an immediate opportunity for Nigerian businesses.
“This research bridges the knowledge gap by helping SMEs understand their current AI adoption status and what they need to compete both locally and globally,” he stated. The study also reinforces eTranzact’s expanding role as an enabler of digital growth and innovation beyond just payments, he noted.
Explaining further, he said the report offers SMEs a fact-based assessment of their AI readiness, guiding informed investment and capacity-building decisions.
For Nigeria, he said, the findings serve as a strategic blueprint to enhance competitiveness, job creation, and innovation-driven economic growth.
Mr. Toluwalope highlighted that policymakers, financiers, and educators will be better equipped with data in the report to design support programs tailored to SME needs.
The comprehensive study, conducted over several months across key regions including Enugu, Kano, Lagos, Abuja, and Port Harcourt, highlights the current state of Artificial Intelligence adoption readiness among Nigeria’s over 39 million Small and Medium Enterprises (SMEs) and Micro, Small and Medium Enterprises (MSMEs).
While there is evident enthusiasm for AI among SME entrepreneurs, the study also identifies critical gaps in awareness, access, and tailored solutions necessary to harness AI’s full potential.
The managing director emphasized that the report offers more than just data, it provides a strategic roadmap to foster an inclusive and intelligent digital economy in Nigeria.
He said, “Through direct engagement with entrepreneurs across diverse geo zones, we have gained invaluable insights into their hopes and challenges.
“At eTranzact, innovation is core to our values, and we are committed to collaborating with policymakers, innovators, and SME leaders to develop practical AI solutions that address real business needs.”
The organizations also noted that both electronic copies and hard copies are available.
Director of Programs & Partnerships at the Enterprise Development Centre (EDC), Pan-Atlantic University, Dr. Olawale Anifowose,stated, “The study adopted a mixed-method research approach, involving the use of both quantitative and qualitative data collection and analysis methods. The quantitative approach was implemented through a sample survey of SMEs with 5,290 responses across the 36 states of the federation, including the Federal Capital Territory.
“The qualitative aspect was implemented through focus group discussions/
summits with 212 participants across five states in the country, aimed to collect rich, in-depth information about issues in the study.”
