ABSTRACT:
This era of smart digital transformation has been made possible by vast improvements in processing power, device miniaturization, pervasive wireless connectivity and mobile technologies. IoT which combines all these technologies is driving the smart digital transformation era. IoT is a new field and its use and adoption in Nigeria is at the infacy stage. Furthermore, at the center of all these communications is data. There is a remarkable shift in the source, mode, rate and volume of data that are generated from smart devices. Due to the amount of data being generated on a daily basis, the world is now experiencing what is called “data explosion” and taking advantage of this real time data is transforming human existence. Data is said to be the oil of the digital age. This transformation and the new oil of the digital age thing cannot be realized until these data are combined with traditional source of data to generate insights and patterns through advanced analytics to create more value than ever before.
This paper looks at how Nigeria could take advantage of IoT/smart solutions to advance digital-led groeth, tackle her socio-economic challenges and create more value from smart data in all sectors of the economy for sustainable national development. It answered critical questions on how Nigeria can drive adoption of smart-enabled solutions to address her socio-economic challenges, how smart solutions can be effectively designed and integrated into business and governance and the viable and priority areas for smart applications in Nigeria. The research findings provide justification for sector/industry specific smart data ecosystems, platforms, governance and business models. It also identifies critical challenges that must be tackled in order to ensure sustainable smart initiatives in Nigeria.
Keywords:
Internet of Things, Smart-enabled Solutions, Information Value Loop, Smart Value Chain, Smart Data Platform, Data as a Service.
