Nigeria needs to implement organized information technology systems analysis and adopt new technologies like blockchain and cloud computing to stay competitive in the intricate global trading landscape, according to Canadian IT and business analyst Echezona Uzoma on Friday.

Uzoma, who serves as a Senior Consultant for the Ontario Public Sector, emphasized that both Nigeria and Canada should focus on advancing digital modernization to enhance their economic stability, especially given the increasing global challenges such as new U.S. tariffs impacting African economies.

He mentioned that sectors like oil and gas might gain considerable advantages from implementing structured IT analysis along with cutting-edge technologies, which can lead to improved efficiency, transparency, and scalability.

"Analysis of IT systems and optimization processes allow governments and businesses to rethink their crucial operational workflows—from procurement to export management—by pinpointing inefficiencies and integrating automation driven by performance metrics," stated Uzoma for PUNCH Online.

He pointed out that with the increasing complexity of global trade, nations need to implement advanced, data-centric solutions to maintain their competitiveness in international markets.

Uzoma strongly supports one of the key technologies: blockchain—an open, digital, and shared database that safely and transparently logs transactions over a network.

"Picture a situation where any stakeholder—a local auditor or foreign investor alike—could sign in and confirm, in real time, how many barrels of oil departed from a terminal in Rivers State today," he stated.

Blockchain enables this capability. Such transparency not only fosters trust but also greatly minimizes chances for revenue loss.

He stated that beyond transparency, blockchain could potentially transform the way Nigeria handles its oil value chain.

Through providing an unalterable account of each transaction—from extraction to export—it reduces conflicts, removes redundant reporting, and significantly enhances transparency at all stages of the supply chain.

"Blockchain not only tracks transactions but also establishes a singular source of truth that regulators, trading partners, and financiers can rely on," Uzoma stated.

As per his view, this becomes particularly crucial in industries susceptible to inefficiencies and financial losses.

Uzoma also mentioned that cloud-based platforms can enhance blockchain technology by improving operational flexibility with features like real-time data analysis, predictive modeling, and automatic reporting within governmental organizations and state-owned enterprises.

“Cloud infrastructure provides ministries and agencies with the flexibility to integrate systems, reduce paperwork and deliver services faster,” he said. “Whether it’s grant disbursement, procurement management or monitoring oil shipments, cloud platforms offer real-time visibility and ensure accurate, coordinated responses across departments.”

He mentioned that the advantages of IT systems analysis go beyond just the oil and gas sector and can act as a strategic blueprint for overhauling public sector service delivery in multiple areas.

Uzoma mentioned that optimized systems could enhance government service delivery, drawing from his experience at Canada’s Ministry of Public and Business Services Delivery and Procurement. There, he helps implement large-scale technological solutions.

"Whether it’s about improving tax collection and procurement or enhancing trade facilitation and citizen participation, efficient digital procedures enable organizations to be more flexible, driven by data, and able to address economic challenges swiftly—free from the holdups or wastefulness linked to traditional bureaucratic systems," he stated.

Digital transformation goes beyond mere technology; it's all about contemporary governance. As Nigeria merges systemic thinking with innovations geared towards greater transparency, we will be able to negotiate from a place of power and draw significant international investments.

Uzoma encouraged policymakers in Nigeria and other emerging markets to see investments in digital infrastructure not merely as an expense, but rather as a key factor for enhancing national competitiveness, fostering public confidence, and ensuring economic stability over the long term.

Provided by Syndigate Media Inc. ( Syndigate.info ).