Companies across Nigeria are adopting IoT into their systems and processes, as stated by Lare Ayoola, the current Executive Chairman of IoT Africa. Ayoola also predicts that the emerging technologies will continue to boost the local economy, thanks to the immense capabilities IoT brings into their business operations.
Thanks to IoT, many business owners and managers in Nigeria are growing in awareness of how IoT keeps their businesses more secure and efficient. The industries keen on the adoption of IoT, according to Ayoola, include agriculture, logistics, power, manufacturing, financial services, health and safety, real estate, and even the oil and gas sector.
IoT Africa has signed larger deals with operators in Nigeria’s oil and gas industry because the downstream oil industry is plagued with losses, risks, and theft. IoT devices utilized in these companies have mitigated these risks and saved at least 30-40 percent of those losses.
IoT Africa, a subsidiary of Tranter IT, built the first phase of the IoT network in 2020, which is now in full deployment in states like Lagos, Ogun, Rivers, and the FCT.
“The good news is that the network has been very stable. We have tested it with numerous devices and we found out that the connectivity is excellent. We are about to move into the next phase where we will be covering the rest of the country and that will start within the next two to three months,” Ayoola states.
IoT also holds prospects for the financial sector in terms of safety and security, according to Ayoola. A power outage in one of the banks in Nigeria resulted in losing half a day’s worth of business. “Had there been IoT sensors installed in that data center to monitor the battery of the UPS, or monitor the supply of electricity from the PHCN and the generator, that catastrophe would have been averted,” Ayoola shares. “A signal would have been sent to the bank’s central command, and they would have sent someone physically to solve the problem. From that incident, they would have also had data to analyze and prevent that sort of problem in the future.”
IoT Africa was recently granted an award at the Titans of Tech ceremony held in Lagos, Nigeria. The company was honored for its efforts at pushing the adoption of IoT Nigeria. The parent body, Tranter IT, also received the ‘Outstanding IoT Provider of the Year Award’