The Fourth Industrial Revolution: How can Nigeria respond?

The study investigates how Nigeria can respond to industry 4.0 in terms of: (i) institutions; (ii) technology; and (iii) firm innovation and start-up strategy. The brainstorming model by Lee et al (2018) was employed. Response in terms of institutions suggests: (i) improvement in the flow of capital and strengthening the entrepreneurial role of the state; and (ii) making people and organizations more creative and resilient. Response in terms of technology suggests: (i) highly efficient and automated cyber-physical systems; (ii) drone technology and robotics/artificial intelligence. Response in terms of firm innovation and start-up strategy suggests aggressive collaboration between established enterprises and new start-ups. The policy implication is that the next-generation of smart digital technologies will be the foundation for revolutionary change in all industries. Expectedly, top executives, innovators, inventors, entrepreneurs and firms in Nigeria are in the early stages of preparing to exploit the full potentials of industry 4.0.