Digital transformation in Nigeria: The prospects and challenges of the gig economy

Abstract

Rapid digital transformation has changed the way of life of humans and reshaped the global economy. Internet connectivity has drastically changed work as communication technologies and digital platforms have enabled the availability, execution and delivery of work from anywhere in the world. This study focused on unveiling the country-specific potentials and challenges of the gig economy in Nigeria, especially among the youth population. The study adopted the survey research design using online forms for data collection. The study population were undergraduate students of the Federal University of Technology, Akure, comprising only the internet savvy who were actively participating in the gig economy. Research data were analyzed using descriptive statistics. The study revealed a male to female respondents ratio of 78:22. However, the findings showed no significant relationship between respondents’ gender and acceptability of the gig economy. The greatest challenge faced by gig workers in Nigeria is poor electricity power supply and internet access. 67% of the respondents are involved in freelancing. Half of the study population earns below 20,000 Naira monthly from gig work. Most of the respondents were engaged in the gig economy for ‘flexibility’ and ‘more money’ and were willing to take up gig work as full-time employment. The study recommends the establishment of a regulatory body to guide operational standards for both organizations and gig workers, control pricing and improve payment platforms in Nigeria. That would help build trust and encourage international work relationships, thereby harnessing the full potential of the gig economy.