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Carmudi Whitepaper Indicates Internet Pushing Automobile Sales to $89m in 2015

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The global automotive sales for 2015 are expected to hit $89 million, a 2.4% growth from 2014, with an emerging market share rising from 50% in 2012 to 60% by 2020, while their share of global profits is also set to rise by 10%.

A Whitepaper on automobile by Carmudi, an online marketplace for cars revealed that internet is injecting fresh impetus into the market.

According to the Whitepaper, the current and future state of the automotive industry in Nigeria and other emerging markets is being driven by the increase in Internet and mobile penetration, rising GDP, and the emergence of a middle class.

Titled ‘The Booming Automotive Industry in Nigeria,’ the Whitepaper revealed that 83% of car buyers crawl on the Internet to conduct research on a car before making a purchase in Nigeria.

“Globally, auto E-Commerce has grown at such a staggering rate that now as many as 80% of new car customers and almost 100% of used car customers begin their car shopping experience online. With internet and mobile penetration significantly growing in emerging markets, the rate of moving the car shopping experience online is beginning to mirror that of Western Markets,” said Christian Keller, managing director, Carmudi, Anglophone West Africa while unveiling the Whitepaper to the media in Lagos.

The Whitepaper also revealed that the Nigeria’s auto industry remains relatively strong, but critical policy changes, like the National Automotive Industry Development Plan, have the potential to change the entire industry.

It added that 30% of car dealers in Nigeria reported an increase in car sales over the past twelve months due to the changing economic climate, while 50% of the car dealers surveyed reported a decrease.

Some Highlights Of The Whitepaper
The Shift to Online
83% of Nigerian car buyers reported turning to the internet, blogs, forums, and social media when researching cars.

The majority of Car Dealers responded that up to 80% of their customers turn to the internet and social media for auto research.

The responses also proved that offline media, including newspaper classifieds and auto expos (under 10%), are declining as a source for buyers.

Nigerian car dealers are also getting more and more digital when advertising their listings.

Around 80% of car dealers are now primarily focused on advertising their car listings online.

William Anumudu, CEO of Globe Motors said, “Currently, the number of people turning to the internet to for car purchases been on the increase. A lot of people use the internet to search for information, products or services. Any business that wants to excel must go digital. This is due to the fact that Nigerians like to be associated with new trends, the internet is accessible anywhere and the fact that information is at their fingertips. Since people are embracing the internet all businesses online will profit.”

The Future Of Car Sales Market In Nigeria
Nigeria has been heavily dependent on auto imports, which account for the largest share of the country’s foreign reserves each year.

New vehicle assembly plants are expected, and the number of imported cars has already declined significantly – from 11,563 in January to 7,400 units in February.

Last month’s historic election of Muhammadu Buhari has generated uncertainty surrounding the auto sector. Although the party is pro-business, some industry stakeholders disagree with elements of the Autos policy, such as second-hand dealers who will lose out from the 70% tax on imports, or who would like to see full implementation of the policy deferred.

Buhari could choose to reverse all or some sections of the Automotive policy to secure more support with these stakeholders.

Keller, added,  “2015 is the year of online car sales in Nigeria. With an unmatched growth rate in online car searches in Nigeria and a rapidly growing middle class, Carmudi´s report affirms that our investments to become the No. 1 online car marketplace in Nigeria were worth it.”


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E-Business

NITDA, NIMC Partner for Seamless Data Exchange Capabilities

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National Information Technology Development Agency (NITDA) and the National Identity Management Commission (NIMC) have announced a collaboration on National Public Key Infrastructure (PKI) and Digital Public Infrastructure (DPI) to enhance synergy between digital identity, payment ecosystems and secure seamless data exchange capabilities for Nigeria.

NITDA, NIMC Partner for Seamless Data Exchange Capabilities

l-r: Kashifu Inuwa, Director General of NITDA, and Bisoye Coker-Odusote,  Director General of NIMC, during the meeting at the NIMC headquarters in Abuja..

NITDA, which made the announcement on its X handle, said that the collaboration was to further strengthen Nigeria’s digital economy in line with President Bola Tinubu’s Renewed Hope Agenda,

During the meeting, Kashifu Inuwa, director general of NITDA, and Bisoye Coker-Odusote, director general of NIMC, with some management staff of both organisations, discussed various initiatives, which include building DPI stacks for a secured and seamless data exchange and forming partnerships to transform the national identity system.

This collaboration also aims to harness the potential of the innovative ecosystem and emphasise the use of public-key infrastructure (PKI) to drive digital transformation in Nigeria.

To ensure a smooth implementation, a 12-man committee was set up.

This committee will play a crucial role in kickstarting and harmonising the initiatives and is expected to deliver a comprehensive implementation report within the next 4 weeks.

 

 


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Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

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Noble Ajuonu, head, Sydani Technologies Ltd., has urged the Federal Government to harmonise National Identification Number (NIN) and Bank Verification Number (BVN) to tackle crimes and insecurity in the country.

Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

Ajuonu made the call at a media roundtable, organised by Sydani Group in Abuja.

The News Agency of Nigeria (NAN) reports that the roundtable focuses on driving sustainability through a comprehensive analysis of Nigeria’s key development areas.

Ajuonu said that Nigeria could overcome its security challenges and pave the way for a safer, more secure future for all Nigerians by embracing technology and implementing practical solutions,

“We need to harmonise data, prioritise seamless integration of databases like NIN, BVN, and security agency records, establish clear protocols for data sharing and access, with robust safeguards against misuse,’’ expert said.

According to him, the unified data pool will empower intelligence gathering and targeted operations.

He also called for investments in smart surveillance, intelligent video analytics software, training of personnel in data analysis, interpretation of data in real-time to combat crimes.

“There is need to implement a legal framework for call interception in criminal investigations, with strict oversight to prevent abuse, encourage community cohesion, training of tech savvy security personnel with tech-enabled tools.’’

Ajuonu also urged the government to address infrastructure deficit in technology, saying that technology was all encompassing to address insecurity.

“According to the National Identity Management Commission (NIMC), as of December 2023, only 104.2 million Nigerians had been enrolled for the National Identity Number (NIN).’’

Ajuonu added that over 122.2 million citizens left uncaptured for NIN were people in rural areas where enrolment centres, digital services were limited.

“Most crimes are being perpetuated from rural communities and this lack of comprehensive identification creates a gap where elements not captured in the national database can constitute public nuisance, crimes.

“There is the inadequacy in the integration of NIN, BVN and Voters Identification Number (VIN).

“Advanced call interception and analysis tools, used successfully in other countries, could provide invaluable insights into criminal networks and operations but infrastructure is lacking,’’ he said.

Also, Mr Godfrey Petgrave, the Agricultural Expert, Sydani Group, called for empowerment of smallholder farmers with access to finance and training to enhance productivity.

According to Petgrave, Nigeria requires policy reform and institutional strengthening to improve agricultural practices and embrace digital agriculture solutions to address food insecurity.

Mr Akolade Jimoh, another expert of the group on health, advocated for expanded community-based health insurance programmes for rural and underserved areas.

Jimoh added that the country needed to encourage Public Private Partnership to revolutionise products design and quality improvement on health services.


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Konga launches Infinix Brand Week with Incredible Deals

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Konga, Nigeria’s leading composite e-commerce group, is thrilled to announce the launch of amazing deals at its Infinix Brand Week. Infinix, a leading global smartphone brand known for its innovative products and cutting-edge technology promises exclusive discounts and special offers on select smartphones, marking an exciting milestone in the realm of online shopping.

Shoppers can expect nothing short of extraordinary deals on a wide range of Infinix products, all available exclusively on the Konga online platform. With discounts of up to 30% off, this partnership between Konga and Infinix aims to redefine the shopping experience for tech enthusiasts across Nigeria.

Konga Brand Week has become synonymous with excitement and unbeatable deals, and this year’s edition is no exception. In addition to exclusive discounts on Infinix smartphones, shoppers can explore a diverse array of products across various categories, including electronics, fashion, home essentials, and more.

“At Konga, we are dedicated to providing our customers with the best shopping experience possible,” said Rita Ohaedoghasi, VP Marketing at Konga. “The Infinix Week during Konga Brand Week allows us to continue delivering on that promise by offering incredible discounts and special offers on some of the most sought-after smartphones in the market.”

To stay updated on the latest developments and exclusive deals during Konga Brand Week, shoppers are encouraged to connect with Konga across all platforms, including social media and the Konga website. Don’t miss out on this opportunity to score big savings and elevate your tech game with Infinix and Konga.


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