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TecH, Nigeria s New oil (3): If technology is the new oil, then data is the new power

With the fast pace at which fintech companies are growing in Nigeria, it should be noted that the success of these businesses are largely due to their access to huge data on customers and this drives their innovation, product development, customer relationship management, among others, Oluchi Chibuzor, continues our focus of Nigeria’s emerging tech players which started three weeks ago “The power of artificial intelligence is so incredible, it will change society in some very deep ways,” billionaire Microsoft co-founder, Bill Gates. If technology is the new oil, then data is the new power. While fintech is fast-growing in Nigeria, non-fintech brands are also springing up in the media, analytics and Artificial intelligence space in Nigeria. We should note that brands like Google, Facebook, and Twitter are essentially media and analytics companies.

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