Theoretical Approaches to Empowering SMEs through Technology Adoption: Pathways to Economic Resilience in Nigeria

Abstract

Small and Medium-sized Enterprises (SMEs) are crucial to Nigeria’s economy, driving employment, innovation, and growth. However, they face significant challenges such as limited technology access, inadequate infrastructure, and regulatory barriers. This concept paper proposes a theoretical framework for empowering Nigerian SMEs through strategic technology adoption to enhance resilience and sustainable development. Grounded in the Technology Acceptance Model (TAM), Diffusion of Innovations (DOI) theory, and the Resource-Based View (RBV), the framework examines factors influencing technology adoption. Key drivers include perceived usefulness, ease of use, cost, and accessibility, while barriers encompass financial constraints and regulatory complexities. The framework highlights government policies, financial incentives, and training programs as critical enablers of technology adoption. Technology adoption enhances SME resilience by improving operational efficiency, reducing costs, and expanding market reach through digital platforms and e-commerce. Policy recommendations include investing in ICT infrastructure, offering financial incentives, providing digital training, and streamlining regulations to foster innovation. Public-private partnerships and business incubators play a vital role in facilitating digital transformation. Robust monitoring and evaluation mechanisms are essential to assess the impact of technology adoption on SME performance. Continuous feedback will ensure that initiatives remain effective and responsive to SME needs. This framework provides a roadmap for leveraging technology to strengthen Nigerian SMEs, fostering economic growth, and positioning them competitively in the digital global economy.

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doi : https://doi.org/10.32628/IJSRST25121185
498
Theoretical Approaches to Empowering SMEs through Technology
Adoption: Pathways to Economic Resilience in Nigeria
Jumai Ahmadu1, Akorede Shittu2, Oluwakemi Famoti3, Abbey Ngochindo Igwe4, David Akokodaripon5,
Chikezie Paul-Mikki Ewim6, Chioma Ann Udeh7, Dennis Edache Abutu8
1Reform Coordination and Service Improvement Department, Abuja, Nigeria
2North Carolina Agricultural and Technical State University
3Wells Fargo, Texas, USA
4Independent Researcher, Port Harcourt, Nigeria
5Kyndryl (IBM GTS)
6Independent Researcher, Lagos
7Independent Researcher, Lagos Nigeria
8Unity College of Education, Adoka, Nigeria
A R T I C L E I N F O
A B S T R A C T
Article History:
Accepted : 11 Feb 2025
Published: 13 Feb 2025
Small and Medium-sized Enterprises (SMEs) are crucial to Nigeria’s
economy, driving employment, innovation, and growth. However, they
face significant challenges such as limited technology access, inadequate
infrastructure, and regulatory barriers. This concept paper proposes a
theoretical framework for empowering Nigerian SMEs through strategic
technology adoption to enhance resilience and sustainable development.
Grounded in the Technology Acceptance Model (TAM), Diffusion of
Innovations (DOI) theory, and the Resource-Based View (RBV), the
framework examines factors influencing technology adoption. Key drivers
include perceived usefulness, ease of use, cost, and accessibility, while
barriers encompass financial constraints and regulatory complexities. The
framework highlights government policies, financial incentives, and
training programs as critical enablers of technology adoption.
Technology adoption enhances SME resilience by improving operational
efficiency, reducing costs, and expanding market reach through digital
platforms and e-commerce. Policy recommendations include investing in
ICT infrastructure, offering financial incentives, providing digital training,
and streamlining regulations to foster innovation. Public-private
partnerships and business incubators play a vital role in facilitating digital
transformation.
Robust monitoring and evaluation mechanisms are essential to assess the
Publication Issue :
Volume 12, Issue 1
January-February-2025
Page Number :
498-518

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impact of technology adoption on SME performance. Continuous feedback
will ensure that initiatives remain effective and responsive to SME needs.
This framework provides a roadmap for leveraging technology to
strengthen Nigerian SMEs, fostering economic growth, and positioning
them competitively in the digital global economy.
I. INTRODUCTION
Small and Medium-sized Enterprises (SMEs) play a
critical role in the economic landscape of Nigeria,
contributing significantly to employment, innovation,
and GDP (Gherghina, et. al., 2020, Pulka & Gawuna,
2022). However, despite their importance, Nigerian
SMEs face numerous challenges, including limited
access to technology, inadequate infrastructure, and
regulatory hurdles. These obstacles hinder their
ability to compete in the increasingly digital global
market and threaten their economic resilience. This
concept paper explores theoretical approaches to
empowering SMEs through technology adoption,
presenting pathways to bolster their economic
resilience and sustainable development.
Technology adoption has been recognized as a vital
factor in enhancing the competitiveness and
productivity of SMEs. The Technology Acceptance
Model (TAM), proposed by Davis (1989), posits that
perceived usefulness and perceived ease of use are key
determinants of technology adoption. By
understanding these factors, policymakers and
business leaders can devise strategies to facilitate
technology uptake among SMEs (Naushad & MM,
2020, Rojas-Berrio, et. al., 2022). Moreover, the
Diffusion of Innovations (DOI) theory, introduced by
Rogers (2003), highlights the process by which new
technologies spread within a social system. This
theory provides a framework for understanding how
SMEs can be encouraged to adopt innovative
technologies, thereby improving their operational
efficiency and market reach. The Resource-Based
View (RBV) of the firm, as articulated by Barney
(1991), underscores the importance of leveraging
internal resources and capabilities to gain competitive
advantage. For Nigerian SMEs, adopting technology
can enhance their resource base, allowing them to
innovate and adapt to market changes more
effectively. By integrating these theoretical
perspectives, this concept paper aims to outline a
comprehensive approach to promoting technology
adoption among SMEs in Nigeria (Oyewobi, et. al.,
2023, Sadiq, et. al., 2022).
A critical component of this approach is addressing
the digital divide that exists between urban and rural
areas. Ensuring that SMEs across Nigeria have access
to reliable internet and digital infrastructure is
essential for fostering inclusive economic growth (van
Dijk, 2006). Additionally, building digital
competencies through targeted education and training
programs can empower SME owners and employees to
harness technology effectively (Gefen et al., 2003).
Government policies and initiatives play a pivotal role
in creating an enabling environment for technology
adoption (Ahad, et. al., 2020, Toufaily, Zalan & Dhaou,
2021). This includes providing financial incentives,
such as grants and low-interest loans, to reduce the
cost barriers associated with adopting new
technologies. Furthermore, regulatory reforms that
simplify business processes and protect intellectual
property can encourage innovation and investment in
digital solutions (OECD, 2020).
Collaborative efforts between the government, private
sector, and international development organizations
are crucial for the success of these initiatives (Parker,

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et. al., 2018, Rashed & Shah, 2021). Public-private
partnerships can leverage resources and expertise,
driving the widespread adoption of technology among
SMEs. Additionally, fostering a culture of innovation
through business incubators and technology hubs can
support SMEs in their digital transformation journey
(Hess & Ostrom, 2007). In conclusion, adopting
theoretical approaches to technology adoption can
empower Nigerian SMEs, enhancing their economic
resilience and competitiveness. By addressing key
drivers and barriers, and implementing supportive
policies and initiatives, Nigeria can pave the way for
sustainable economic growth and development
(Babalola & Harinarain, 2024, Nwokolo, Meyer &
Ahia, 2023, Oke, et. al., 2024). This concept paper
aims to provide a strategic framework for achieving
these goals, ensuring that SMEs can thrive in an
increasingly digital global economy.
1.1 Background
Theoretical approaches to empowering SMEs through
technology adoption offer critical insights into how
technology can be leveraged to enhance economic
resilience in Nigeria (Akpuokwe, Chikwe & Eneh,
2024, Ashiru, Nakpodia & You, 2023, Nakpodia, et. al.,
2024). Technology adoption is a significant factor in
improving the operational efficiency and competitive
advantage of small and medium-sized enterprises
(SMEs). The theoretical frameworks guiding this
understanding include the Technology Acceptance
Model (TAM), Diffusion of Innovations (DOI), and
the Technology-Organization-Environment (TOE)
framework. The Technology Acceptance Model
(TAM), proposed by Davis (1989), posits that
perceived ease of use and perceived usefulness are
crucial determinants of technology adoption. This
model is instrumental in understanding how SMEs
perceive and integrate new technologies into their
operations. Similarly, the Diffusion of Innovations
Theory, articulated by Rogers (2003), examines how
innovations spread within and across social systems,
emphasizing the role of communication channels,
social networks, and the perceived attributes of
innovations in their adoption process.
The Technology-Organization-Environment (TOE)
framework, introduced by Tornatzky and Fleischer
(1990), provides a comprehensive approach by
examining the technological, organizational, and
environmental contexts that influence technology
adoption. This framework is particularly useful in
analyzing the barriers and facilitators specific to
Nigerian SMEs, such as infrastructural challenges and
regulatory constraints. The Resource-Based View
(RBV) of the firm, developed by Barney (1991),
underscores the strategic value of technological
resources in achieving competitive advantage and
enhancing resilience. According to RBV, technology
can serve as a critical resource that enables SMEs to
adapt to changing market conditions and improve
their operational capabilities.
Empirical studies have shown that technology
adoption significantly impacts SME performance. For
instance, Olawale and Garwe (2010) provide evidence
that technology adoption improves operational
efficiency and market reach among Nigerian SMEs.
This is supported by research from Iacovou, Benbasat,
and Dexter (1995), which highlights the importance
of perceived benefits and organizational readiness in
technology adoption decisions. Recent reports and
studies, including those by the International Finance
Corporation (IFC, 2019), offer practical insights into
the challenges and opportunities associated with
technology adoption for SMEs in developing countries.
These reports highlight infrastructure constraints,
regulatory environments, and organizational practices
that influence technology use and provide a
comprehensive view of the SME landscape in Nigeria.
1.1.1. Key Dataset
The key dataset for theoretical approaches to
empowering SMEs through technology adoption,
focusing on pathways to economic resilience in
Nigeria, includes a range of studies and reports that
provide insights into the relationship between

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technology and SME performance (Agwaniru, 2023,
Cordes & Marinova, 2023, Johnson-Hart, 2023). This
dataset incorporates data on technology adoption
patterns, the impact of technological innovations on
SMEs, and the barriers and facilitators specific to the
Nigerian context. One essential source is the study by
Olawale and Garwe (2010), which provides empirical
evidence on the impact of technology on SME
performance in Nigeria. Their research indicates that
technology adoption significantly enhances
operational efficiency and market reach among
Nigerian SMEs. Similarly, the research by Iacovou,
Benbasat, and Dexter (1995) offers valuable insights
into the factors influencing technology adoption
decisions, including perceived benefits and
organizational readiness. The Technology Acceptance
Model (TAM), as outlined by Davis (1989), is crucial
for understanding the factors that influence
technology acceptance among SMEs. Davis's work
highlights the importance of perceived ease of use and
perceived usefulness in determining technology
adoption decisions. The Diffusion of Innovations
Theory (DOI), articulated by Rogers (2003), further
explains how innovations spread through social
systems and the role of communication channels in
this process.
The Technology-Organization-Environment (TOE)
framework, developed by Tornatzky and Fleischer
(1990), provides a comprehensive view of the
technological, organizational, and environmental
factors affecting technology adoption. This framework
is particularly relevant for analyzing the specific
barriers and enablers within the Nigerian SME
landscape. Additionally, the Resource-Based View
(RBV) of the firm, as proposed by Barney (1991),
emphasizes the strategic value of technological
resources in gaining competitive advantage and
enhancing resilience. Recent reports and studies, such
as those by the International Finance Corporation
(IFC, 2019), offer practical insights into the challenges
and opportunities associated with technology
adoption for SMEs in developing countries. These
reports provide data on infrastructure constraints,
regulatory environments, and organizational practices
that impact technology use. The theoretical
frameworks and empirical studies cited provide a
robust dataset for understanding how technology
adoption can empower SMEs and contribute to
economic resilience in Nigeria.
1.2 Overview
Theoretical approaches to empowering SMEs through
technology adoption provide essential insights into
how small and medium-sized enterprises (SMEs) can
leverage technology to enhance their economic
resilience, particularly in the context of Nigeria. The
Technology Acceptance Model (TAM), proposed by
Davis (1989), emphasizes the importance of perceived
ease of use and perceived usefulness in determining
technology adoption. According to TAM, if SMEs
perceive a technology as beneficial and easy to use,
they are more likely to adopt it, thereby improving
their operational efficiency and competitiveness
(Kurniasari, Lestari & Tannady, 2023, Nazir & Khan,
2024, Salimon, et. al., 2023). Another significant
theoretical framework is the Diffusion of Innovations
(DOI) theory developed by Rogers (2003). This theory
explores how innovations are adopted over time
within a social system and identifies factors such as
relative advantage, compatibility, complexity,
trialability, and observability as key determinants.
DOI provides a lens through which to understand
how technology spreads among SMEs and the factors
that influence their adoption decisions.
The Technology-Organization-Environment (TOE)
framework, introduced by Tornatzky and Fleischer
(1990), offers a comprehensive perspective by
examining the technological, organizational, and
environmental contexts that affect technology
adoption. This framework helps in analyzing specific
challenges faced by Nigerian SMEs, such as
infrastructural deficits and regulatory barriers, and
identifies how these factors impact technology
adoption and utilization. Additionally, the Resource-

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Based View (RBV) of the firm, articulated by Barney
(1991), highlights the strategic importance of
technology as a valuable resource that can provide
SMEs with a competitive advantage. The RBV
suggests that technology can enable SMEs to better
adapt to market changes and improve their
operational processes, thereby contributing to their
economic resilience.
Empirical research supports these theoretical
frameworks by demonstrating the positive impact of
technology adoption on SME performance. For
instance, studies by Olawale and Garwe (2010) and
Iacovou, Benbasat, and Dexter (1995) show that
technology adoption enhances operational efficiency
and market competitiveness for SMEs in Nigeria.
These findings underscore the practical relevance of
theoretical approaches in guiding SMEs toward
effective technology use and economic resilience.
Recent reports, such as those by the International
Finance Corporation (IFC, 2019), further elucidate the
barriers and opportunities associated with technology
adoption for SMEs in developing countries. These
reports highlight the critical role of supportive
policies, infrastructure improvements, and
organizational readiness in facilitating technology
adoption and fostering economic resilience.
1.3 Literature Review
As technology continues to advance at an
unprecedented pace, ethical considerations have
become paramount in the development and
deployment of artificial intelligence (AI) and digital
transformation initiatives (Adigwe et al., 2024;
Aldoseri, Al-Khalifa, & Hamouda, 2024; Kraus et al.,
2022; Ajirotutu, Adeyemi, Ifechukwu, Iwuanyanwu,
& Ohakawa, 2024; Umar, 2024; Nzeako, Akinsanya,
Popoola, Chukwurah, & Okeke, 2024; Hai et al., 2021;
Lutfi et al., 2022). In Nigeria, the rapid adoption of AI
and digital technologies holds immense potential for
economic growth, societal development, and
improved quality of life. However, the integration of
these technologies also raises significant ethical
challenges that must be addressed to ensure their
responsible and equitable use. This concept paper
explores the necessity of developing comprehensive
ethical guidelines for AI and digital transformation in
Nigeria, emphasizing the importance of balancing
innovation with ethical responsibility.
The rise of AI technologies has led to transformative
changes across various sectors, including healthcare,
finance, education, energy, and governance (Bassey &
Ibegbulam, 2023; Ajirotutu, Matthew, Garba, &
Johnson, 2024; Wang, 2024; Walter, 2024). While
these technologies offer numerous benefits, they also
pose risks such as biases in algorithmic decision-
making, privacy violations, and unintended
consequences of automation (Floridi et al., 2018; Umar,
2024; Lee, 2024; Pöhler, Diepold, & Wallach, 2024). In
Nigeria, where digital literacy and regulatory
frameworks are still evolving, the need for ethical
guidelines is particularly pressing to prevent misuse
and ensure that technological advancements benefit
all segments of society. Developing ethical guidelines
for AI and digital transformation involves establishing
principles that prioritize fairness, accountability,
transparency, and inclusivity (Garba, Umar, Umana,
Olu, & Ologun, 2024). These principles are crucial in
addressing the potential biases and inequalities that
can arise from AI systems. For instance (Kaggwa et al.,
2024; Kolasani, 2024; Popoola, Akinsanya, Nzeako,
Chukwurah, & Okeke, 2024), AI algorithms trained
on biased data can perpetuate and even amplify
existing societal inequalities (Binns, 2018; Sahin, 2006).
Privacy is another critical concern in the digital age.
The collection, storage, and analysis of vast amounts
of personal data by AI systems necessitate robust
privacy protections (Umana, Garba, Ologun, Olu, &
Umar, 2024). Ethical guidelines must enforce stringent
data protection measures to safeguard individuals'
privacy rights and prevent unauthorized access to
sensitive information (Mittelstadt et al., 2016; Nzeako
et al., 2024). These measures are essential in building
public trust and encouraging the widespread
acceptance of AI and digital technologies. Moreover,

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transparency and accountability are fundamental to
the ethical deployment of AI. Users and stakeholders
must have a clear understanding of how AI systems
operate and make decisions (Garba et al., 2024;
Ajirotutu et al., 2024; Marčeta & Bojnec, 2021;
Nogueira & Madaleno, 2021; Stankovic et al., 2021).
Ethical guidelines should require the disclosure of AI
algorithms' decision-making processes and ensure that
there are mechanisms for accountability and redress
in cases of harm or error (Jobin, Ienca, & Vayena,
2019; Umar, 2024; Baker, 2012). This transparency
fosters trust and allows for informed decision-making
by users.
Inclusivity is also a key aspect of ethical AI and digital
transformation. Ensuring that the benefits of
technological advancements are equitably distributed
requires proactive measures to include diverse
perspectives in the development and implementation
of AI systems (West, Whittaker, & Crawford, 2019;
Ajirotutu et al., 2024; Chege & Wang, 2020). Ethical
guidelines should promote the participation of
marginalized groups and communities in the tech
ecosystem, enabling them to contribute to and benefit
from digital transformation (Umana et al., 2024;
Popoola et al., 2024; Mazzucato, Kattel, & Ryan-
Collins, 2020). In conclusion, developing ethical
guidelines for AI and digital transformation in Nigeria
is essential for balancing innovation with ethical
responsibility. By prioritizing fairness, accountability,
transparency, and inclusivity, these guidelines can
address the ethical challenges posed by advanced
technologies and ensure their equitable and
responsible use (Aderibigbe et al., 2023; Ebulue,
Ebulue, & Ekesiobi, 2024; Odewale, 2024; Ugwu,
Adewusi, & Nwokolo, 2024; Umar, 2024; Nzeako et al.,
2024). This concept paper aims to provide a
framework for policymakers, technologists, and
stakeholders to collaboratively develop and
implement ethical standards that promote sustainable
and inclusive technological progress in Nigeria.
The ethical considerations surrounding artificial
intelligence (AI) and digital transformation are
increasingly critical as technology becomes more
integral to various sectors (Ajirotutu et al., 2024; Umar,
2024; Nzeako et al., 2024; Secundo et al., 2020). In
Nigeria, as in many other countries, the rapid
advancement of AI technologies presents both
opportunities and challenges that necessitate the
development of comprehensive ethical guidelines
(Mannuru et al., 2023; Ndubisi & Ikechukwu Anthony,
2022; Samuel-Okon & Abejide, 2024; Garba et al.,
2024; Umar, 2024; Zhu, Kraemer, & Xu, 2006). These
guidelines aim to address issues related to fairness,
transparency, accountability, and the responsible use
of technology. Ethics in technology encompasses a
broad range of issues, including the protection of
privacy, prevention of bias, and the implications of
decision-making processes driven by AI systems
(Adewusi et al., 2024; Arakpogun et al., 2021;
Komolafe et al., 2024; Popoola et al., 2024; Olawale &
Garwe, 2010; Iacovou, Benbasat, & Dexter, 1995).
To effectively address these ethical concerns, a
collaborative approach involving stakeholders from
government, industry, academia, and civil society is
essential (Nzeako et al., 2024; Popoola et al., 2024;
Adanyin, 2024). Engaging diverse perspectives ensures
that the ethical guidelines developed are
comprehensive and reflect the values of all affected
parties. Additionally, ongoing education and
awareness-raising about ethical issues in technology
are crucial for fostering a culture of responsibility and
accountability (Floridi, 2019; Umar, 2024). The
development of ethical guidelines for AI and digital
transformation in Nigeria is a proactive step toward
ensuring that technology serves the public good and
aligns with international standards of ethical practice
(Igbinenikaro & Adewusi, 2024; Oladoyinbo et al.,
2024). By addressing key ethical issues and fostering a
collaborative approach, Nigeria can navigate the
complexities of digital transformation while
safeguarding human rights and promoting equitable
outcomes.

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1.4 Research Gap
Despite the substantial body of research on
technology adoption and its impact on SMEs,
significant research gaps remain in understanding
how these theoretical approaches specifically apply to
the context of Nigerian SMEs (Usman, Ahmad &
Zakaria, 2019, Oyewobi, et. al., 2023, Saka, Chan &
Siu, 2020). The Technology Acceptance Model (TAM)
and the Diffusion of Innovations (DOI) theory provide
foundational insights into technology adoption, but
studies focusing on the unique socio-economic and
infrastructural challenges faced by Nigerian SMEs are
limited. Research often generalizes findings without
considering the local context or specific barriers that
SMEs in Nigeria encounter, such as inconsistent
electricity supply and limited access to high-speed
internet (Ayo, 2011; Oyelaran-Oyeyinka & Lal, 2006).
The Technology-Organization-Environment (TOE)
framework has been used to analyze technology
adoption, but there is a lack of comprehensive studies
that integrate all three dimensions—technological,
organizational, and environmental—within the
Nigerian SME context (Brunetti, et. al., 2022,
Dąbrowska, et. al., 2022, Feliciano-Cestero, et. al.,
2023). Much of the existing research focuses on either
technological or organizational aspects in isolation,
neglecting how environmental factors like regulatory
challenges and economic instability influence
adoption processes (Baker, 2012; Tornatzky &
Fleischer, 1990). The Resource-Based View (RBV)
highlights the strategic importance of technology, yet
there is a paucity of empirical studies that link RBV
directly to the operational and financial outcomes of
Nigerian SMEs. Theoretical applications of RBV to
technology adoption in Nigeria are sparse, and more
research is needed to examine how SMEs leverage
technology as a strategic asset to improve resilience
and competitive advantage in a challenging
environment (Barney, 1991; Zhu, Kraemer, & Xu,
2006).
Additionally, while research by Olawale and Garwe
(2010) and others has explored the constraints faced
by Nigerian SMEs, there is insufficient exploration of
how specific technological innovations can address
these constraints and enhance economic resilience.
There is also a need for more detailed investigations
into the practical implications of adopting various
technologies in different sectors within Nigeria
(Iacovou, Benbasat, & Dexter, 1995). In summary,
addressing these research gaps requires a nuanced
understanding of how theoretical models can be
adapted to the specific conditions of Nigerian SMEs.
Future studies should focus on integrating
technological, organizational, and environmental
factors, while also considering the strategic role of
technology in enhancing SME resilience and
competitiveness (Banerjee, Graham & Given, 2024,
Consearo, 2021, Economics & Pullen, 2024, Keep,
2022).
1.5 Problem Statement
In Nigeria, small and medium-sized enterprises (SMEs)
face significant challenges that hinder their growth
and economic resilience. Despite the recognized
potential of technology to address these challenges
and drive economic development, many Nigerian
SMEs struggle to effectively adopt and integrate
technological solutions. Theoretical models such as
the Technology Acceptance Model (TAM), Diffusion
of Innovations (DOI) theory, and the Technology-
Organization-Environment (TOE) framework offer
valuable insights into technology adoption processes
but are often applied in contexts that do not fully
account for the unique socio-economic and
infrastructural constraints present in Nigeria. The
existing literature highlights that while these models
provide a general understanding of technology
adoption, there is a gap in empirical research
addressing how these theories can be specifically
tailored to overcome the barriers faced by Nigerian
SMEs. These barriers include inadequate
infrastructure, limited access to high-speed internet,
inconsistent power supply, and socio-economic
instability. Furthermore, the Resource-Based View

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(RBV) emphasizes the strategic role of technology but
lacks comprehensive studies linking RBV directly to
the operational and financial outcomes for Nigerian
SMEs. There is a critical need to develop and adapt
theoretical approaches that not only address the
general principles of technology adoption but also
consider the specific challenges faced by Nigerian
SMEs. This includes understanding how technological
innovations can be leveraged as strategic assets to
enhance resilience and competitive advantage in a
challenging environment. The lack of contextualized
theoretical models limits the ability of Nigerian SMEs
to effectively adopt technology and achieve economic
resilience. Therefore, the problem is to identify and
develop theoretical approaches that are tailored to the
unique needs and constraints of Nigerian SMEs,
enabling them to harness technology effectively for
sustainable growth and economic resilience.
1.6 Objectives
The objective of this concept paper is to develop and
adapt theoretical frameworks to enhance the adoption
of technology by small and medium-sized enterprises
(SMEs) in Nigeria, thereby improving their economic
resilience and fostering sustainable growth.
Specifically, the objectives are:
1. Review and evaluate existing theoretical
approaches, such as the Technology Acceptance
Model (TAM), Diffusion of Innovations (DOI),
and the Technology-Organization-Environment
(TOE) framework, to understand their
applicability and limitations in the context of
Nigerian SMEs.
2. Investigate the unique socio-economic and
infrastructural challenges faced by Nigerian SMEs
that impact technology adoption, such as
inadequate infrastructure, limited access to high-
speed internet, and inconsistent power supply.
3. Adapt and refine theoretical models to better
address the specific barriers and needs of Nigerian
SMEs, incorporating insights from the Resource-
Based View (RBV) and other relevant theories.
4. Develop practical strategies and
recommendations for Nigerian SMEs to
effectively adopt and integrate technology,
leveraging these contextualized theoretical
approaches.
5. Explore how improved technology adoption can
contribute to the economic resilience and
competitive advantage of Nigerian SMEs, leading
to sustainable growth and development.
These objectives aim to bridge the gap between
theoretical models and practical applications,
ultimately fostering a more supportive environment
for technology adoption and economic resilience
among Nigerian SMEs.
1.7 Expected Outcomes
The expected outcomes for the concept paper on
"Theoretical Approaches to Empowering SMEs
through Technology Adoption: Pathways to Economic
Resilience in Nigeria" are as follows:
1. A comprehensive review and adaptation of
existing theoretical models—such as the
Technology Acceptance Model (TAM), Diffusion
of Innovations (DOI), and Technology-
Organization-Environment (TOE) frameworks—
tailored to address the specific context of
Nigerian SMEs. This will provide insights into
how these models can be effectively utilized to
support technology adoption in the Nigerian SME
sector.
2. A detailed analysis of the socio-economic,
infrastructural, and institutional barriers faced by
Nigerian SMEs in adopting technology. This
includes understanding the impacts of limited
access to high-speed internet, inconsistent power
supply, and financial constraints on technology
adoption.
3. Development of refined theoretical approaches
that incorporate context-specific factors affecting
technology adoption in Nigeria. These approaches
will consider unique challenges and

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opportunities, providing a more relevant
framework for SMEs in the region.
4. Practical guidelines and actionable strategies for
Nigerian SMEs to enhance their technology
adoption processes. These recommendations will
address identified barriers and leverage
opportunities to improve technology integration
and utilization.
5. Enhanced ability of Nigerian SMEs to leverage
technology for improved operational efficiency,
competitive advantage, and economic resilience.
This will contribute to their long-term
sustainability and growth, helping them better
navigate economic challenges and capitalize on
new opportunities.
6. Policy Implications: Insights into how
government and institutional policies can support
technology adoption among SMEs.
Recommendations for policy adjustments and
initiatives aimed at creating a more conducive
environment for technology integration will be
outlined.
7. Establishment of a research base for further
studies on technology adoption in SMEs,
particularly within the Nigerian context. This
includes identifying gaps and areas for further
exploration, thereby contributing to the broader
academic and practical understanding of
technology adoption in emerging economies.
Overall, these outcomes are expected to provide a
robust framework for enhancing technology adoption
among Nigerian SMEs, ultimately supporting their
economic resilience and contributing to sustainable
development.
1.8 Challenges and Barriers
The theoretical approaches to empowering SMEs
through technology adoption in Nigeria face several
challenges and barriers that must be addressed to
foster economic resilience and growth (Oiku, 2024,
Ufua, et. al., 2022, Zhang, et. al., 2023). Limited access
to technology infrastructure is a significant barrier.
Nigerian SMEs often struggle with inadequate
internet connectivity and unreliable power supply,
which can hinder effective technology
implementation and use (Akinyemi & Ojo, 2020;
Omotayo & Ojo, 2021). These infrastructural
limitations exacerbate existing challenges, making it
difficult for SMEs to fully leverage technological
advancements.
Financial constraints are another critical challenge.
Many SMEs in Nigeria operate with tight budgets and
limited access to capital, which can restrict their
ability to invest in new technologies (Akinwale &
Afolabi, 2021). This lack of financial resources can
lead to a reliance on outdated technologies or the
postponement of technology adoption altogether.
Additionally, the high cost of technology acquisition
and maintenance further exacerbates these financial
pressures (Eze & Olusola, 2019). Organizational
factors also play a role in hindering technology
adoption. Nigerian SMEs often face issues related to a
lack of skilled personnel who can effectively manage
and utilize new technologies (Ogunlela & Adeyemi,
2020). The skills gap can result in poor
implementation and underutilization of technological
tools. Furthermore, resistance to change among SME
owners and employees can impede the adoption
process, as individuals may be hesitant to alter
established practices or invest in unfamiliar
technologies (Akinyemi et al., 2020).
Regulatory and policy-related barriers also impact
technology adoption. Inconsistent or inadequate
government policies and regulations regarding
technology and innovation can create an uncertain
business environment for SMEs (Olayanju &
Olanrewaju, 2022). The lack of supportive policies and
incentives can deter SMEs from investing in
technology, thereby limiting their growth potential
(Khurana, Dutta & Ghura, 2022, Skare, et. al., 2023).
Lastly, there is often a gap in understanding the
strategic benefits of technology adoption among SME
owners. Many Nigerian SMEs may not fully
appreciate the long-term advantages of technology,

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leading to a lack of motivation to invest in or
prioritize technological upgrades (Olusola & Eze,
2021). This disconnect between the perceived and
actual benefits of technology adoption can further
hinder progress.
II. METHODOLOGY
Methodology for Theoretical Approaches to
Empowering SMEs through Technology Adoption:
Pathways to Economic Resilience in Nigeria To
effectively explore and implement theoretical
approaches for empowering SMEs through technology
adoption, a structured and comprehensive
methodology is essential. This methodology includes a
combination of qualitative and quantitative research
methods, designed to identify, analyze, and address
the challenges and opportunities associated with
technology adoption in Nigerian SMEs. The following
steps outline the proposed methodology:
1. Literature Review and Theoretical Framework
Development
The initial phase involves a comprehensive literature
review to understand existing theories and models
related to technology adoption, economic resilience,
and SME empowerment. Key theoretical frameworks
to be examined include the Technology Acceptance
Model (TAM), the Diffusion of Innovations Theory,
and the Resource-Based View (RBV). This review will
help in developing a theoretical framework tailored to
the Nigerian context, identifying key variables and
relationships that impact technology adoption and
economic resilience.
2. Identification of Key Variables and Indicators
Based on the literature review, key variables and
indicators relevant to technology adoption and
economic resilience will be identified. This includes
factors such as technology readiness, financial
constraints, managerial attitudes, and institutional
support. These variables will be used to develop
research instruments and guide data collection efforts.
3. Data Collection
Data collection will employ both qualitative and
quantitative methods to gain a comprehensive
understanding of the factors influencing technology
adoption among Nigerian SMEs. The following data
collection methods will be used: Surveys and
Questionnaires: Structured surveys and questionnaires
will be distributed to a representative sample of SMEs
across various sectors. The surveys will focus on
collecting quantitative data on technology adoption
levels, barriers, and impacts on business performance.
Interviews: In-depth interviews with SME owners,
managers, and technology experts will provide
qualitative insights into the challenges and
opportunities associated with technology adoption.
Interviews will be semi-structured, allowing for
flexibility and in-depth exploration of participants'
experiences and perceptions. Focus Groups: Focus
group discussions with SME stakeholders, including
technology providers and policy makers, will be
conducted to gather diverse perspectives on
technology adoption and its implications for economic
resilience.
4. Data Analysis
Collected data will be analyzed using a combination of
statistical and thematic analysis techniques.
Quantitative data from surveys will be analyzed using
statistical methods to identify patterns, correlations,
and relationships between technology adoption and
economic resilience variables. Qualitative data from
interviews and focus groups will be analyzed
thematically to identify common themes, insights, and
contextual factors influencing technology adoption.
5. Development of Recommendations and Strategies
Based on the analysis, actionable recommendations
and strategies will be developed to enhance
technology adoption among SMEs and promote
economic resilience. These recommendations will
address identified barriers, leverage opportunities, and
align with theoretical frameworks. The strategies will
be designed to be practical and contextually relevant
for Nigerian SMEs.

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6. Validation and Refinement
The proposed recommendations and strategies will be
validated through stakeholder consultations and
feedback sessions. Engaging with SMEs, technology
providers, and policy makers will ensure that the
recommendations are feasible and effectively address
the needs of SMEs. Feedback will be used to refine
and adjust the proposed strategies as necessary.
7. Reporting and Dissemination
The findings, recommendations, and strategies will be
compiled into a comprehensive report. The report will
be disseminated to key stakeholders, including
government agencies, SME associations, and
technology providers, to inform policy making and
practice. Additionally, the findings will be published
in academic journals and presented at relevant
conferences to contribute to the broader knowledge
base on technology adoption and economic resilience.
By following this methodology, the study aims to
provide valuable insights and practical
recommendations for empowering SMEs through
technology adoption, ultimately enhancing their
economic resilience and contributing to sustainable
development in Nigeria.
2.1. Implementation Strategies
Implementation Strategies for Theoretical Approaches
to Empowering SMEs through Technology Adoption:
Pathways to Economic Resilience in Nigeria
Implementing theoretical approaches to empower
SMEs through technology adoption requires a
multifaceted strategy tailored to the specific needs and
challenges faced by Nigerian businesses. The
following implementation strategies are designed to
enhance the adoption of technology, promote
economic resilience, and support sustainable growth
for SMEs in Nigeria.
1. Developing Comprehensive Technology
Adoption Frameworks
The creation of comprehensive frameworks tailored to
the Nigerian SME context is essential. These
frameworks should integrate theoretical models of
technology adoption, such as the Technology
Acceptance Model (TAM) and Diffusion of
Innovations Theory, with practical considerations
relevant to Nigerian SMEs. The frameworks should
provide clear guidelines on assessing technology needs,
selecting appropriate technologies, and evaluating
their impact on business operations. Engaging with
local experts and stakeholders during the development
process will ensure that these frameworks are
contextually relevant and practical.
2. Enhancing Access to Financial Resources
Financial constraints are a significant barrier to
technology adoption for many SMEs. Implementing
strategies to improve access to funding can help
overcome this barrier. This can include developing
government-backed grants, subsidies, or low-interest
loans specifically for technology adoption.
Additionally, promoting partnerships with financial
institutions to create tailored loan products for SMEs
can provide the necessary capital for technology
investments. Programs like the National Economic
Empowerment and Development Strategy (NEEDS)
should be leveraged to align funding initiatives with
technology adoption goals.
3. Building Technology Skills and Capacity
To effectively adopt and utilize new technologies,
SMEs need to build their technological skills and
capacity. Implementing targeted training programs
and workshops can help SME owners and employees
develop the necessary skills. Partnerships with
educational institutions and technology providers can
facilitate the delivery of these training programs.
These initiatives should cover not only technical skills
but also change management and digital literacy to
ensure a smooth transition to new technologies.
4. Creating Supportive Policy Environments
Government policies play a crucial role in facilitating
technology adoption. Policymakers should focus on
creating a supportive environment by implementing
policies that encourage innovation and reduce barriers
to technology adoption. This includes providing tax
incentives for technology investments, simplifying

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regulatory requirements, and supporting technology
infrastructure development. Policies should be
designed to address the specific needs of SMEs and
promote a conducive environment for their growth
and technological advancement.
5. Fostering Collaborative Networks and
Partnerships
Collaboration between SMEs, technology providers,
and research institutions can drive technology
adoption and innovation. Establishing networks and
partnerships can facilitate knowledge sharing,
resource pooling, and collaborative problem-solving.
Initiatives such as technology incubators, innovation
hubs, and industry associations can provide SMEs
with access to expertise, resources, and collaborative
opportunities. These networks can also help SMEs stay
updated on the latest technological advancements and
best practices.
6. Monitoring and Evaluating Technology Adoption
Impact
Implementing a robust monitoring and evaluation
system is crucial for assessing the impact of
technology adoption on SMEs. This involves setting
up key performance indicators (KPIs) to measure the
effectiveness of technology investments and track
progress toward economic resilience goals. Regular
evaluation of technology adoption outcomes can
provide valuable insights into the benefits and
challenges faced by SMEs, enabling continuous
improvement and adjustment of strategies.
7. Promoting Awareness and Advocacy
Raising awareness about the benefits of technology
adoption and advocating for its importance can drive
greater engagement among SMEs. Public awareness
campaigns, success stories, and case studies
showcasing the positive impact of technology on
business performance can inspire other SMEs to
embrace technology. Engaging with industry leaders
and media to highlight successful technology adoption
examples can also enhance the visibility and
credibility of technology initiatives.
By implementing these strategies, Nigeria can create
an enabling environment for SMEs to leverage
technology effectively, fostering economic resilience
and contributing to sustainable growth.
2.2. Proposed Model
The proposed model for empowering SMEs through
technology adoption to enhance economic resilience
in Nigeria integrates key theoretical frameworks and
empirical insights. Central to this model is the
Technology Acceptance Model (TAM), which
emphasizes the perceived usefulness and ease of use of
technology as critical factors influencing adoption
decisions. This model considers how SMEs’ readiness
for technology, including their infrastructure, digital
skills, and organizational capacity, impacts their
ability to integrate new technologies effectively. The
model identifies and addresses the barriers to
technology adoption, such as financial constraints,
limited access to technology, and insufficient digital
literacy. It also highlights enablers that facilitate
adoption, including supportive government policies,
availability of financial resources, and access to
technology support and training. By examining these
factors, the model provides a framework for
understanding how SMEs can overcome obstacles and
leverage enablers to successfully adopt technology.
The decision-making process within SMEs regarding
technology adoption is a key focus of the model. It
includes analyzing how SMEs perceive the usefulness
of technology, its ease of use, and other organizational
factors that influence their decisions. This
understanding helps in tailoring implementation
strategies to ensure alignment with business objectives
and integration into existing workflows.
Implementation strategies are designed to support
SMEs in adopting technology effectively. These
strategies include providing training and support
mechanisms, ensuring that technology aligns with
business goals, and integrating it smoothly into
current operations. The model also incorporates a
component for assessing the impact of technology

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adoption on performance metrics such as productivity,
profitability, market competitiveness, and resilience to
economic shocks.
Policy recommendations and ecosystem support are
integral to the model, aiming to create an enabling
environment for technology adoption among SMEs.
This includes advocating for regulatory frameworks
that support digital transformation, investing in
infrastructure development, and fostering industry
collaboration. Finally, the model promotes continuous
learning and adaptation among SMEs to ensure they
can leverage emerging technologies, adapt to evolving
market conditions, and sustain long-term economic
resilience. This iterative and adaptive approach helps
SMEs navigate the complexities of technology
adoption and enhances their capacity to thrive in a
digitally evolving economy.
2.2.1. The Model:
The model for empowering SMEs through technology
adoption to enhance economic resilience in Nigeria
integrates several theoretical approaches and practical
insights into a cohesive framework. It starts with the
Technology Acceptance Model (TAM), which posits
that the perceived usefulness and ease of use of
technology are crucial determinants of adoption. This
model suggests that for SMEs to embrace technology
effectively, they must perceive it as beneficial and
user-friendly. The model incorporates an analysis of
the Diffusion of Innovations Theory, which examines
how, why, and at what rate new technologies spread
among SMEs. It highlights the role of early adopters
and innovators in setting trends and influencing the
wider adoption within the business community. By
understanding these dynamics, the model provides
strategies for encouraging technology adoption
through influential leaders and success stories.
Another key component is the Resource-Based View
(RBV), which focuses on the internal capabilities and
resources of SMEs. The model addresses how SMEs
can leverage their unique resources, such as skilled
personnel and existing technological infrastructure, to
adopt and utilize new technologies effectively. It
emphasizes the importance of aligning technology
adoption with the firm’s strategic resources to
enhance competitive advantage and resilience.
The model also incorporates elements from the
Institutional Theory, which highlights the impact of
external pressures and supports on technology
adoption. It examines how government policies,
regulations, and industry standards influence SMEs'
decisions to adopt new technologies. This perspective
underscores the need for supportive policy
frameworks and industry collaboration to facilitate
technology adoption. In practical terms, the model
includes specific strategies for overcoming common
barriers to technology adoption, such as financial
constraints, lack of technical skills, and limited access
to technology. It recommends targeted interventions,
including financial incentives, capacity-building
programs, and technical support services, to address
these barriers effectively.
Furthermore, the model advocates for a phased
approach to technology adoption, where SMEs first
pilot new technologies on a small scale before full-
scale implementation. This approach allows for
adjustments and learning, reducing risks and
enhancing the chances of successful adoption. Lastly,
the model emphasizes the importance of continuous
evaluation and feedback mechanisms. It suggests that
SMEs should regularly assess the impact of technology
on their operations and make necessary adjustments to
optimize benefits and ensure sustained resilience. By
integrating these theoretical approaches and practical
strategies, the model provides a comprehensive
framework for empowering SMEs through technology
adoption, ultimately fostering economic resilience in
Nigeria.
2.2.2. Benefits and Implications
Theoretical approaches to empowering SMEs through
technology adoption offer numerous benefits and
implications for economic resilience in Nigeria. One
of the primary benefits is the enhancement of

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operational efficiency. Technology adoption enables
SMEs to automate and streamline their processes,
leading to improved productivity and effectiveness.
This efficiency helps businesses manage resources
better, reduce operational costs, and increase their
ability to respond quickly to market changes and
opportunities. Another significant benefit is the
expansion of market reach. Through digital platforms
and e-commerce, technology allows SMEs to access
new markets and customer segments beyond their
local areas. This expanded market reach mitigates the
risks associated with local economic fluctuations and
opens up new revenue streams, enhancing the
business's overall resilience.
Technology adoption also improves financial
management for SMEs. Advanced financial tools and
software facilitate better tracking of financial
transactions, budgeting, and forecasting. This
improved financial oversight enables SMEs to make
more informed decisions, manage cash flow
effectively, and navigate economic uncertainties with
greater confidence. The implications of these benefits
are far-reaching. For policy and support from the
government, creating an environment that promotes
technology adoption is crucial. This includes
developing supportive infrastructure, providing
financial incentives, and facilitating access to
technology. Such measures can foster a more
conducive environment for SMEs to leverage
technological advancements.
Additionally, capacity building is essential. Ensuring
that SME owners and employees have the necessary
skills and knowledge to utilize technology effectively
is vital for maximizing its benefits. Investment in
training programs and educational resources helps in
overcoming the skill gaps and ensures that technology
can be used to its full potential. Addressing barriers to
technology adoption is another important implication.
Financial constraints, lack of technical expertise, and
insufficient infrastructure can hinder SMEs from
adopting technology. Targeted interventions, such as
subsidies and partnerships with technology providers,
are necessary to overcome these obstacles and make
technology more accessible.
Ongoing evaluation and adjustment of technology use
are also important. Regular assessment of technology’s
impact on business performance allows SMEs to adapt
and optimize their technological strategies based on
changing needs and conditions. This adaptability helps
ensure that technology continues to contribute
positively to the business’s resilience and growth.
Overall, theoretical approaches to technology
adoption provide SMEs in Nigeria with opportunities
to enhance efficiency, expand their market presence,
and improve financial management, all of which
contribute to greater economic resilience and growth.
III. CONCLUSION
In conclusion, theoretical approaches to empowering
SMEs through technology adoption represent a critical
pathway to enhancing economic resilience in Nigeria.
By leveraging technology, SMEs can achieve
significant improvements in operational efficiency,
market reach, and financial management. These
advancements contribute to a more resilient business
environment capable of withstanding economic
fluctuations and seizing new growth opportunities.
Technology adoption offers SMEs the tools to
streamline operations, reduce costs, and enhance
productivity. This not only helps businesses operate
more efficiently but also positions them competitively
in the broader market. Additionally, the expansion of
market access through digital platforms allows SMEs
to reach new customer segments and diversify their
revenue sources, further strengthening their economic
resilience. The successful integration of technology in
SMEs also hinges on supportive policies and
infrastructure. Government initiatives that facilitate
technology adoption, such as financial incentives,
infrastructure development, and capacity-building
programs, are essential for creating an environment
where SMEs can thrive. Addressing barriers such as
financial constraints and skill gaps through targeted

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interventions will help ensure that technology is
accessible and effectively utilized.
Moreover, the continuous evaluation and adaptation
of technology strategies are crucial for maintaining
their relevance and effectiveness. SMEs must regularly
assess the impact of technological tools on their
performance and make adjustments as needed to
optimize benefits. This iterative process supports
ongoing improvement and ensures that technology
continues to drive resilience and growth. In summary,
empowering SMEs through technology adoption is
not only a strategic advantage but also a necessity for
fostering economic resilience in Nigeria. By
embracing technological innovations and overcoming
associated challenges, SMEs can enhance their
operational capabilities, expand their market presence,
and improve their financial management. This, in
turn, contributes to a more robust and resilient
economy capable of navigating the complexities of the
modern business landscape.
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