Industry leaders have urged closer collaboration between government and the private sector as a critical step toward unlocking growth in Nigeria’s retail space.
At the Interswitch Retail Summit, stakeholders emphasized that without the right mix of supportive policies, reliable infrastructure, and inclusive financial systems, the sector may struggle to reach its full potential.
The gathering, hosted by Interswitch, brought together key players across the retail and digital commerce landscape to examine how businesses can adapt to ongoing changes and position themselves for long-term success.
Conversations at the summit moved beyond simply identifying industry challenges, focusing instead on practical strategies that can drive efficiency, profitability, and scalability.
Setting the tone for the discussions, Vice President of Sales and Account Management at Interswitch, Osasere Atohenghe, pointed to a shift in consumer behavior that businesses can no longer ignore.
According to him, today’s customers expect fast, secure, and seamless interactions at every stage of their shopping experience, forcing retailers to rethink how they deliver value.
The keynote address by Lagos Business School faculty member, Chidi Okoro, highlighted the growing overlap between digital and physical retail channels.
He noted that businesses must build models that reflect this reality, using data more effectively and strengthening inventory systems to remain competitive.
For him, meaningful innovation will only come through consistent and deliberate investment.
Adding to the conversation, Olawale Akanbi, Group Head of Growth Marketing at Interswitch, stressed that the real measure of the summit’s success lies in what happens afterward.
He pointed out that businesses must be willing to translate ideas into action by refining their strategies, embracing technology, and forming partnerships that can fuel growth.
From a data and analytics perspective, David Emeh, Head of Business Development for West Africa at NIQ, underscored the importance of investing across the entire retail value chain.
He emphasized that structured and reliable data is essential for better decision-making and improved profitability.
Discussions also touched on the role of integrated payment systems in modern retail. Stakeholders noted that streamlined payment solutions can ease checkout processes, simplify reconciliation, and help businesses retain more revenue.
By the close of the summit, there was a shared understanding: building a resilient and future-ready retail sector will require sustained collaboration, continuous investment, and a willingness to adapt to an ever-changing marketplace.
