INDUSTRY WATCH

As Equinix ’ s survey data highlights , there are huge opportunities for Nigeria ’ s businesses to successfully expand into new markets and reach new customers .

The survey in Nigeria revealed that 54 % of respondents are planning on expanding in an existing country in the next 12 months , 34 % into a new region and 33 % into a new country . And that 93 % of IT leaders in Nigeria said enhancing customer experience is a priority .

However , a number of potentially limiting factors were identified by businesses when it came to global growth including concerns and challenges in supply chain , cybersecurity , and staff retention and recruitment .

Supply chain challenges

55 % said their business was plagued by global supply chain issues and shortages , while 50 % specified the global microchip shortage as a threat to their business .

Cybersecurity

There remain significant concerns around cybersecurity in Nigeria . Ensuring expansions are supported by resilient digital models is businesscritical , particularly at a time of increasing volatility and emerging global threats .

As part of their digital-first strategies , 85 % of respondents in Nigeria confirmed a key priority is improving cybersecurity . 88 % said complying with local market data regulations is critical , while 85 % highlighted the need to futureproof their businesses . According to IT specialists in Nigeria , the most feared threats were cyberattacks ( 73 %), security breaches and data leaks ( 68 %).

Staff retention and recruitment

Despite having one of the youngest populations and workforces in the world , 58 % of IT decision makers in Nigeria view a shortage of personnel with IT skills as one of the main threats to their business . The survey showed that among the most common concerns for businesses in Nigeria are candidates with the wrong skill sets applying for jobs ( 56 %), pay and compensation ( 49 %), changing expectations around ways of working ( 41 %), and the retention of current talent ( 38 %).

Additionally , In Nigeria , the most in-demand tech employees are those with skills in areas such as AI / Machine Learning , data analysis , cloud computing specialists , data protection , security software development , IT technicians and security analysis .

Tools to grow businesses

To help grow their businesses , 77 % of IT leaders in Nigeria said they plan to move more business functions to the cloud including business-critical applications and security functions .

Hybrid cloud models were the preferred approach for 36 % of respondents in Nigeria , although 18 % still rely on a single cloud provider and 2 % not using the cloud at all .

40 % in Nigeria said they plan to facilitate global expansion plans by deploying virtually via the cloud , with over a quarter ( 26 %) – 21 % among IT

www . intelligentcio . com INTELLIGENTCIO AFRICA 65