E-Commerce System: A tool for economic diversification

E-Commerce is one of the untapped IT resources in Africa. Due to lack of Information Technology Infrastructure, many African countries are yet to start mining the dividends of electronic commerce. Nigeria as a major economic hub of Africa need to diversify her economy for growth and e-commerce fills this void. This paper reveals the importance of ecommerce to a growing economy like that of Nigeria. It is very much important to have government intervention and policies that will enable a good environment for foreign and local investors to harness the power of e-commerce in increasing the country’s economic worth. Already established e-commerce companies like AliBaba were x-rayed to point out how their activities have improved the economy of the location where they are found. Different types of e-commerce systems like B2B, B2C, C2C, C2B and B2G were also discussed. E- Commerce is great platform that do not only develop our infrastructural worth but also increase employment rates in Nigeria. This in turn have a huge impact in increasing economic and social growth of Nigerian economy and this is known as diversification of economy.