Digital Technologies for Business Sustainability in Nigeria: An Empirical Analysis

Advances in Information and Communication Technology (ICT) are rapidly transforming the way most things (Social, Economic, Political etc) are done. Business growth and sustainability now greatly depend on the deployment of digital technologies. Adapting digital technologies to businesses in Nigeria is imperative at a time like this. Digital technologies are electronic tools, systems, devices and resources that generate, store or process data. Digitalization, digital transformation, and digital technologies have a lot of potential for organizations' environmental, administrative, economic, and social sustainability, and they can be applied to a variety of enterprises. This paper is aimed at investigating theoretically and empirically how Micro, Small and medium enterprises (MSMEs) in Nigeria have fared over the period 1990 to 2020 using Ordinary Least Squares (OLS) technique. The results showed that access to electricity and cellular subscription had a positive and statistically significant impact on SME contribution to Gross Domestic Product (GDP). The SME output however had a negative and insignificant impact on SME contribution to GDP against apriori expectation. The paper concludes with recommendations to businesses to access digitization and well as to government to improve access to electricity in a bid to improve SMEs in Nigeria