Impact of Digital Transformation on Nigeria Business Growth

This study investigated the impact of digital transformation on the growth of businesses in Nigeria, particularly small and medium-sized enterprises (SMEs). The study uses a descriptive research design and surveys 200 SMEs in Nigeria across various industries. The data collected is analyzed using regression analysis to determine the relationship between digital transformation adoption and financial performance of SMEs. The findings indicate that there is a significant positive relationship between digital transformation adoption and financial performance of SMEs. Specifically, the variables with the highest impact on financial performance are competitive advantage, current implementation, improved operational efficiency, and improved customer experience. The study concludes that SMEs in Nigeria should prioritize digital transformation adoption to improve their financial performance. The government and other stakeholders should support SMEs in this regard through initiatives such as training, funding, and policy incentives. SMEs should also regularly evaluate their digital transformation strategies to ensure that they are achieving their desired outcomes. Finally, more research should be conducted to explore other factors that may influence the financial performance of SMEs in Nigeria.