Remita, a leading digital payment platform, has called for increased investment in digital infrastructure, cybersecurity and financial inclusion to ensure that more Nigerians benefit from the country’s growing digital economy.
The company said bridging the digital divide was critical to unlocking economic opportunities for millions of Nigerians who remain excluded due to limited connectivity, affordability challenges and inadequate access to digital services.
Lanre Idowu, Divisional Head, Financial Industry Partnerships at Remita, made the call during the Nigeria Information Technology Reporters Association (NITRA) Innovative and Scientific Conference held in Lagos.
Idowu said that although Nigeria’s digital economy was projected to reach $18.3 billion by the end of the year, the benefits would remain unevenly distributed unless barriers limiting digital access were addressed.
He described the country’s digital transformation as representing “two Nigerias” — one recognised globally for technological innovation and another still struggling with poor broadband infrastructure, high connectivity costs and unequal access to digital services.
According to him, Nigeria has developed one of Africa’s fastest-growing fintech ecosystems, with instant payments becoming increasingly popular among individuals, businesses and government institutions.
He noted that Nigerian technology startups had continued to gain international recognition, but warned that uneven broadband penetration and limited digital access in underserved communities were slowing inclusive growth.
“The country’s digital divide should be viewed as an opportunity divide because millions remain excluded from education, healthcare, financial services and economic opportunities,” Idowu said.
He stressed the need for digital solutions to be designed with diverse users in mind, including people with different languages, literacy levels, income capacities and device limitations.
Idowu identified connectivity, affordability, digital literacy, access to devices and trust as the five major factors affecting inclusive digital transformation in Nigeria.
The Remita executive said trust remained a major factor influencing the adoption of digital financial services, noting that failed transactions and weak dispute resolution systems often discourage users from embracing digital platforms.
He recalled that Nigeria’s banking sector had evolved significantly from an era when customers relied heavily on manual processes, paper documentation and long queues in banking halls.
He noted that financial services had been transformed through innovations such as Automated Teller Machines (ATMs), mobile banking, agency banking, USSD services and digital payment platforms.
Idowu said previous banking processes, including clearing outstation cheques that took between five and 15 working days, had gradually been replaced by faster digital alternatives.
“The future of Nigeria’s digital economy depends not only on innovation but also on inclusion. When technology becomes accessible to everyone, regardless of geography or income level, we truly begin to bridge the digital divide,” he said.
Idowu attributed the growth of Nigeria’s fintech ecosystem to collaboration among government agencies, regulators, banks, telecommunications operators, fintech companies, consumers and the media.
He said government institutions had provided policy direction, while regulators created frameworks that supported responsible innovation.
He added that banks pioneered digital financial services, telecom operators expanded connectivity, and fintech companies introduced solutions that improved access to financial services.
“No single institution built Nigeria’s fintech ecosystem alone. Government, regulators, banks, telecommunications operators, fintech innovators, consumers and the media all contributed to the progress we see today,” he said.
The Remita executive also highlighted the importance of USSD banking in extending financial services to Nigerians without smartphones or internet access.
However, he expressed concern that rising USSD transaction charges could discourage low-income users and undermine efforts to promote financial inclusion.
Idowu called for continued collaboration among stakeholders to build a digital economy that is secure, affordable, accessible and beneficial to all Nigerians.
