TABLE OF CONTENTS
Cover Page – – – – – – – – – –
Title Page – – – – – – – – – –
Certification – – – – – – – – – –
Dedication – – – – – – – – – –
Acknowledgement – – – – – – – – –
Abstract – – – – – – – – – –
Table of Content – – – – – – – – –
Chapter One: Introduction
Chapter Two: Review of Related Literature
2.1 Introduction – – – – – – – – –
2.2 Conceptual Framework – – – – – – –
2.3 Theoretical Framework – – – – – – –
2.4 Empirical Review – – – – – – – –
2.5 History of Online Newspapering in Nigeria – – – –
2.6 Impact of the Internet – – – – – – –
Chapter Three: Research Methodology
3.1 Introduction – – – – – – – –
3.1 Research Design – – – – – – – –
3.3 Area of the Study – – – – – – – –
3.4 Population of the Study – – – – – – –
3.5 Sample Size and Sampling Techniques – – – –
3.6 Instrumentation – – – – – – – –
3.7 Validation of the Instrument – – – – – –
3.8 Administration of the Instrument – – – – –
3.9 Method of Data Analysis – – – – – – –
Chapter Four: Presentation, Analysis and Interpretation of Data
4.1 Introduction – – – – – – – – –
4.2 Presentation and Analysis of Data – – – – –
Recent advancements in Information Technology have revolutionised the way we communicate and information is now accessible from virtually anywhere. The ability of the internet to bring together various races of people from different parts of the world has huge potential for developing up-coming countries like Nigeria.
The amount of information that is now available online has increased dramatically over the recent years, including trade and economic information. The level of e-Commerce transactions conducted in Nigeria in the past three years has increased exponentially, but there are still lots of room for improvement.
E-Commerce is not just about setting up computers and businesses, but encompasses a larger scope. It is about doing business with an entirely different mind-set, using a medium that challenges the very basic rules of traditional ways of doing business. E-Commerce is all about a perfect interface between business management, strategy and technology with a view to serving the customers more satisfactorily.
The internet on which e-Commerce rides is a major catalyst for the economic development of Nigeria. E-Commerce can be placed in two categories i.e. e-Merchandise (selling goods and services electronically) and e-Finance (online financial services and transactions).
A typical e-Commerce transaction involves four major stages; the customer search stage (from the various e-Commerce sites available), the ordering stage by the customer, the online payment stage for the goods and services and, finally, the delivery stage. Some other stages such as inquiry, complaints, returns of goods, etc., may, however, come in at some point within, or along the major stages of the e-Commerce transaction.
It is, therefore, clear from the above that e-Commerce involves the dissemination of pre-purchase information and post-sales services and support. Some of the advantages of engaging in e-Commerce transactions by the e-Commerce sites include reduction of transaction and operational costs, maximising efficiency and convenience of receiving payments online, among many other benefits.
The way an e-Commerce site handles the transactions goes a long way in determining customer trust, loyalty, retention and referral, which will further boost sales and profits.
On the growth of e-Commerce in the Nigerian community, many steps have been taken for its promotion, but there are still lots to be done to make it operate well in the country. Some of the major steps already taken by the government include legislative efforts to ensure that telecommunications companies operate easily by providing the necessary interconnectivity required for e-Commerce to fully take root and the WIN Project, (Wire Nigeria),among others.
In 2006, Nigeria was reported as Africa’s fastest growing nation in the context of telecommunications. Compared to 2006, internet users in 2009 grew from 3.1 per cent of the total population to 16.1 per cent which is an impressive improvement.
E-Commerce is gaining popularity with the increasing number of people who are gaining internet access and are becoming IT literate, with the number of mobile phones surpassing the population of the country.
It is, however, not yet uhuru for e-Commerce in Nigeria. Many people have not yet fully adopted the new purchasing technology as according to a research, out of 70 per cent of respondents who know about e-Commerce, only about 32 per cent of them actually use it.
The most common online activities of Nigerians in percentage are browsing and searching, 74 per cent, selection of a product, 56 per cent, paying online, 15 per cent, paying offline, 82 per cent and online checking of results, 43 per cent.
These figures clearly show that although a huge percentage looked for information online, many of them are reluctant to pay online. The major reasons for this include lack of trust in online retailers, lack of adequate technological infrastructure and fear of inadequate online security of their data when making payments.
Trust has to be injected into the online banking and payment system in Nigeria for e-Commerce to thrive. Nigeria, being a developing country, faces some obvious challenges when it comes to e-Commerce.
These include lack of proper infrastructure, taxation, security issues, privacy concerns, high cost of shipping goods to and from Nigeria, low penetration of credit cards usually required to shop online (debit cards are the common payment cards available in Nigeria), unreliable distribution and delivery processes, residual distrust of paying online in a society where cash is the king, etc. All these issues are generally common with E-Commerce in any other developing country, but it takes time and effort to build trust and make the most out of it.
Nigeria has a great potential for e-Commerce, but the negative issues stated above need to be corrected for e-Commerce to fully play a vital role in the business environment in Nigeria. Some of the recommendations to improve the acceptance of e-Commerce in Nigeria include public awareness and making access to the internet much cheaper so that many more people will be able to afford it on their laptops and mobile phones.
E-Commerce sites should also endeavour to use verifiable payment methods and use security certificates, (SSL certificates), for their pages to build customer’s trust. Big and small businesses should also make sites for personalised products and services.
To further prevent online frauds, e-Commerce sites should provide the customers with customised vouchers and generate exclusive codes, offer special discounts, tokens and coupons from time to time. These will attract and retain customers.
I am sure that with these measures, the acceptance of e-Commerce will grow in leaps and bounds in Nigeria.