Etranzact International Plc, in partnership with the Enterprise Development Centre at Pan-Atlantic University, has launched a report on the ‘AI Readiness of Nigerian SMEs’. The report, launched in Lagos on Wednesday, is a key component of a larger initiative to prepare local businesses for the digital era.
The eTranzact managing director and CEO, Mr Niyi Toluwalope, stated during the launch that the company views artificial intelligence as an immediate opportunity for Nigerian businesses to compete on a global scale. He said the research was designed to bridge the knowledge gap by helping SMEs understand their AI adoption status and what they need to thrive.
The collaboration between the fintech firm and the academic institution is an effort to provide a strategic roadmap for business owners. Toluwalope noted that by equipping enterprises with the tools and knowledge to leverage AI, the initiative aims to foster a more resilient and competitive economy that will ultimately drive job creation and increased productivity.
He added that the study reinforced eTranzact’s role as an enabler of digital growth and innovation beyond payments.
The report offers SMEs a fact-based assessment of AI readiness, guiding informed investment and capacity-building decisions.
For Nigeria, the findings serve as a strategic blueprint to enhance competitiveness, job creation, and innovation-driven economic growth.
Toluwalope noted that policymakers, financiers, and educators will be better equipped with data to design support programmes tailored to SME needs.
The study was conducted over several months across Enugu, Kano, Lagos, Abuja and Port Harcourt.
It highlights the current state of AI readiness among Nigeria’s over 39 million SMEs and MSMEs.
While SME entrepreneurs show enthusiasm for AI, the study identifies gaps in awareness, access, and tailored solutions necessary to harness AI’s potential.
Toluwalope stressed that the report offers more than data, providing a strategic roadmap to foster an inclusive, intelligent digital economy in Nigeria.
“Through direct engagement with entrepreneurs across diverse regions, we have gained invaluable insights into their hopes and challenges.
“At eTranzact, innovation is core to our values. We are committed to collaborating with policymakers, innovators, and SME leaders on practical AI solutions,” he said.
The organisations noted that both electronic and hard copies of the report are available.
Dr Olawale Anifowose, Director of Programmes and Partnerships at the Enterprise Development Centre, explained the research methodology.
“The study adopted a mixed-method research approach, using both quantitative and qualitative data collection and analysis methods.
“The quantitative approach involved a survey of SMEs with 5,290 responses across the 36 states, including the Federal Capital Territory.
“The qualitative aspect involved focus group discussions with 212 participants in five states, gathering in-depth information on key issues,” he said.
