EKWE JONAL

Digital transformation is transforming the business landscape in Nigeria. It allows for the creation of new ideas and makes it possible for more people to participate in the economy. Nigeria will have more than 225 million active mobile phone subscriptions and more than 45% of people using the internet by 2025, setting up a strong digital economy. The availability of affordable smartphones, better mobile networks, and youth enthusiasm have increased the usage of digital tools among entrepreneurs. This movement has led to new business ideas and market growth. Websites for online shopping like Jumia, Konga, and PayPorte have proved to be useful aides. They help entrepreneurs save money, reach more customers, and create new ideas through dropshipping, social commerce, and online promotions. The sector will grow at a 13.2% compound annual growth rate reaching $12 billion in 2027. Digitalization also promotes inclusive entrepreneurship, helping women, youth, and those in the rural regions and allowing them to participate in the digital economy. Despite these advances, entrepreneurs face formidable challenges. Logistic problems, infrastructure shortcomings, lack of digital competencies, and frequent cybersecurity attacks erode consumer trust and business resilience. Imbalances in rural-urban access to connectivity and early finance also limit the growth of digital enterprises. This study explores extensively the opportunities and challenges of digital transformation in developing entrepreneurial businesses in Nigeria. It provides evidence-based suggestions for policymakers and business leaders to enhance the growth of the sector in an inclusive and resilient way. (CAGR) from 2023 to 2027, with revenues

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