Business and economic experts have advised startups on how to track and manage cash flow in business amid the current economic downturn in the country so as to thrive in the digital economy.
According to Ibiyinka Ibru, CEO and founder of MoneyStart, knowing your numbers (revenue, COGS, profit, cash flow), planning ahead (budgeting, forecasting) and making data-driven decisions (when to hire, when to scale, when to say no) are three skills digital professionals must master.
Speaking during her presentation during the ‘The Digital Professional Fair 2025’, at the Landmark Event Centre at Victoria Island, Lagos State, she said steps to price right included knowing your costs (fixed + variable), adding profit margin, research the market, but don’t copy blindly, and build value into your offer—so customers see the price as worth it.
“Growing a business isny’t just about making more money—it’s about keeping more of it.”
She mentioned some quick cost management tips to include using a budget (monthly or quarterly), tracking all expenses (personal vs business), review bank statements weekly and negotiating with vendors.
The event, which started on Monday, was convened by Tutu Adetunbi, served as both a talent incubator and a policy-aligned platform, aimed at equipping Nigerian youths with the skills, strategies and mindset needed to compete in the global digital marketplace.
In her address, Adetunbi said the fair was part of a wider effort to close the skills gap, tackle industry challenges, and expand career opportunities in a sector that holds vast potential for economic growth. “If we are to see Nigeria’s digital economy thrive, we must prepare our young people to lead it,” she declared
Omobosola Alaka, Chief Executive Officer (CEO) & Co-Founder, Hafrikplay, urged young Nigerians to embrace Artificial Intelligence (AI) as one of the newest and valuable tools to boost the digital economy.
According to her, ChatGPT, which is one of the AI tools, has been made more earlier for people to use. You do not need to sit down throughout the day in front of your laptop to think about what to type. ChatGPT is there to assist you.
Alaka went further to advise the Nigerian government to collaborate with the organizers of “The Digital Professional Fair, to organize more events that will bring professionals and stakeholders together who have ideas to teach people in the field. This will make the profession start making the right decisions and implementations.”
In her presentation, she said that it is this kind of event that people can connect with each other in order to boost their businesses, and that is the main reason the event was organized.
She also stressed that, for people to boost their digital businesses, they should build trust and credibility in digital interactions, and make sure that their business is registered so that someone who has similar ideas will not go ahead to register the business. People should always follow the communities that relate to their field, which will help them grow their businesses.
Uchechi Ihuoma, Creative Resource Consultant, pointed to the accessibility of digital marketing as an entry point for young entrepreneurs, while emphasising that sustained practice, collaboration and skill monetisation were essential for competitiveness.
Hassanant Abubakar, founder of Fuse Variety, framed her four pillars of digital growth — skill, systems, structure and strategy — as tools not only for business success but also for building a resilient digital workforce.
The inaugural Digital Professional Fair is a timely response to the growing need for connection, upskilling, and visibility within Africa’s evolving digital economy.
Convened by visionary strategist and tech advocate Tutu Adetunmbi, the event empowered a generation of young Africans to take their rightful place in the digital economy. By providing access to tools, training, and visibility, the fair democratized opportunities in the digital economy and remove barriers to entry for young professionals, students, and aspiring entrepreneurs.
In a bold move to empower and elevate Africa’s digital workforce, the inaugural edition of The Digital Professional Fair debuted in Lagos this August, positioning itself as a flagship gathering for emerging talent, freelancers, and established professionals in the digital space.
Held over three transformative days, the Fair was strategically structured to cater to distinct audiences at different stages of their digital journeys—ushering in a new era of professional empowerment, knowledge sharing, and economic inclusion.
