Nigeria must adopt structured IT systems analysis and embrace emerging technologies such as blockchain and cloud computing to remain competitive in a complex global trade environment, Canadian IT and business analyst Echezona Uzoma said on Friday.

Uzoma, a Senior Consultant at the Ontario Public Sector said both Nigeria and Canada must prioritise digital modernisation to strengthen economic resilience, particularly as global pressures mount, including new US tariffs affecting African economies.

He said industries such as oil and gas could benefit significantly from the application of systematic IT analysis and advanced technologies, enabling greater efficiency, transparency and scalability.

“IT systems analysis and process optimisation enable governments and enterprises to reimagine how key operations run—from procurement to export management—by identifying inefficiencies and embedding performance-based automation,” Uzoma said in a statement to PUNCH Online.

He noted that as global trade becomes more complex, countries must adopt smarter, data-driven systems to stay competitive in international markets.

One of the core technologies Uzoma advocates is blockchain—a digital, open and distributed ledger system that records transactions securely and transparently across a network.

“Imagine a scenario where any stakeholder—whether a domestic auditor or international investor—can log in and verify, in real-time, how many barrels of oil left a terminal in Rivers State today,” he said.

“Blockchain makes that possible. This level of transparency not only builds trust, it significantly reduces opportunities for revenue leakage.”

Beyond transparency, he said blockchain has the potential to reshape how Nigeria manages its oil value chain.

“By offering an immutable record of every transaction—from extraction to export—it minimises disputes, eliminates duplicate reporting and drastically improves accountability at every level of the supply chain.

Blockchain doesn’t just track transactions—it creates a single source of truth that regulators, trading partners and financiers can all trust,” Uzoma said.

According to him, this is especially critical in sectors prone to inefficiencies and revenue loss.

Uzoma added that cloud-based platforms can complement blockchain by enhancing operational agility through real-time analytics, predictive forecasting and automated reporting across government institutions and parastatals.

“Cloud infrastructure provides ministries and agencies with the flexibility to integrate systems, reduce paperwork and deliver services faster,” he said. “Whether it’s grant disbursement, procurement management or monitoring oil shipments, cloud platforms offer real-time visibility and ensure accurate, coordinated responses across departments.”

He said the benefits of IT systems analysis extend beyond the oil and gas industry and can serve as a strategic roadmap for transforming public sector service delivery across various domains.

Drawing from his experience at the Canadian Ministry of Public and Business Service Delivery and Procurement, where he supports the implementation of enterprise-level technology solutions, Uzoma said optimised systems can improve how governments deliver essential services.

“From tax collection and procurement to trade facilitation and citizen engagement, streamlined digital processes allow institutions to become more agile, data-driven and capable of responding to economic pressures—without the delays or inefficiencies associated with legacy bureaucracy,” he said.

“Digital transformation isn’t just about technology—it’s about modern governance. When Nigeria integrates systems thinking with transparency-focused innovation, we can negotiate from a position of strength and attract serious global investment.”

Uzoma urged policymakers in Nigeria and other developing economies to view investment in digital infrastructure not as a cost, but as a long-term driver of national competitiveness, public trust and economic security.



https://punchng.com/blockchain-can-boost-transparency-reduce-revenue-leakage-in-nigerias-oil-sector-expert/