Promoting trade and e-Commerce in Nigeria
Trade is the voluntary exchange of goods and services and is an essential component for the healthy existence of all social systems. It allows an individual to obtain something desirable in a fair manner from another individual who also obtains something in return. Over the years this model of exchange has evolved from direct exchange of goods, known as the barter system, to the use of legal tender, otherwise known as money for exchange. The means through which goods and services are provided and obtained evolved as exchange medium evolved. The current evolution of methods in which goods and services are provided can be attributed to contributions and capabilities provided by information technology. Electronic commerce is the term used to describe the “new” improved ways in which goods and services are exchanged using information technology. E-commerce has made trade relatively easy for businesses and this paper investigates its benefits and examines ways in which e-comm