MORGANABLE BUSINESS /MARKETS
Nigerian businesses that rely on foreign software face growing pressure as changes in the naira’s value make subscription costs harder to predict.
Akure —
Nigerian businesses that rely on foreign software face growing pressure as changes in the naira’s value make subscription costs harder to predict.
Mayowa Oladunjoye, chief executive of Nigerian business technology company SalesUnbox, discussed the concern in an interview published by The Punch on October 11, 2026.
Oladunjoye said companies using software priced in US dollars or pounds face higher bills whenever the naira weakens. As a result, businesses may spend more on digital tools even when their usage and subscription plans remain unchanged. The exposure can complicate budgeting for many firms at a time when they are already managing rising operating expenses.
FOREIGN-CURRENCY COSTS CREATE UNCERTAINTY
Many international software providers set subscription prices in foreign currencies. Nigerian businesses may then pay the naira equivalent through their bank or payment provider.
When the exchange rate changes, the amount charged in naira can rise, even if the software company does not increase its listed price.
For a small business using several applications, the combined effect can be significant. A company might pay separately for online sales, marketing, accounting, inventory and customer records.
Oladunjoye said businesses previously had to juggle several tools, each potentially costing a few dollars every month. Those individual payments can add up as the number of services and users grows.
Larger organisations also face the problem. A company with several branches may need software access for sales teams, finance staff, warehouse workers and managers.
If subscriptions are priced in dollars, adding employees or locations can increase its foreign-currency exposure. Consequently, managers may find it harder to forecast technology spending over a full financial year.
DIGITAL ADOPTION REMAINS A CHALLENGE
Oladunjoye also said many Nigerian small and medium-sized businesses still manage operations manually or with only limited digital tools.
In some firms, essential information remains with the owner or a few employees instead of sitting in a shared system. This can make daily work difficult when key staff members are unavailable.
Manual processes can also weaken decision-making. Without reliable records, owners may struggle to track stock, understand cash flow, identify profitable products or assess customer behaviour.
As businesses grow, these gaps can create errors, delays and avoidable losses. Digital systems can help address these problems by connecting information and making it easier to monitor performance.
However, the cost of technology can discourage adoption. Business owners must weigh the expected gains against subscription fees and other expenses. Some also need training before they can use digital tools confidently.
Oladunjoye said SalesUnbox works with businesses to explain the benefits, adjust pricing where necessary and demonstrate products before customers fully adopt them.
LOCAL SOFTWARE OFFERS AN ALTERNATIVE
SalesUnbox says it prices its products in naira, giving customers a more predictable local-currency cost. Oladunjoye said the company still has some foreign-currency exposure through its own infrastructure expenses. However, customers pay in naira, which reduces the direct exchange-rate risk attached to their software bills.
The company offers connected tools for inventory, accounting, online sales and customer relationship management. According to Oladunjoye, a sale recorded through its inventory system can flow into the accounts automatically.
Customer information can also support promotions and loyalty programmes. Connecting these functions can reduce repeated data entry and help businesses maintain more consistent records.
SalesUnbox has expanded beyond smaller merchants to target medium-sized businesses and large enterprises. Oladunjoye said a business with 25 branches can monitor operations through a single dashboard.
The company also developed a system that allows businesses to continue selling during weak or unavailable internet connections, then synchronise information when service returns.
WHY INTEGRATED SYSTEMS MATTER
Connected software can help firms reduce the number of separate applications they manage. When sales, inventory and accounting systems share information, employees do not have to enter the same figures repeatedly. This can reduce data-entry errors and make it easier to reconcile records.
Oladunjoye said SalesUnbox’s accounting product can use sales and inventory information to produce financial statements, including profit-and-loss reports.
The company is also working on bank integrations to automate reconciliation. If implemented effectively, such tools could help business owners review their financial position more quickly.
WHAT BUSINESSES CAN DO
Companies can begin by reviewing every software subscription and recording its price, billing currency, renewal date and business purpose. They should identify overlapping tools and decide whether a single platform could meet several needs without reducing service quality. This review can reveal unnecessary costs and help managers compare alternatives.
Next, finance teams can test how their technology budgets would change under different exchange-rate scenarios. They can also ask vendors whether they offer naira billing, local payment options, annual pricing or contracts that limit unexpected changes.
Before switching providers, businesses should examine migration costs, staff training, customer support and the security of transferred records.
OUTLOOK FOR NIGERIAN FIRMS
The debate over dollar-priced software reflects a question about how Nigerian businesses can digitise without taking on costs they cannot predict.
Foreign platforms remain valuable, but exchange-rate movements can make long-term planning more difficult when revenue comes mainly in naira.
Local alternatives could reduce that mismatch while helping businesses organise sales, stock and finances. Yet adoption will depend on trust, usability, integration and proof that the tools improve performance. Businesses must compare options carefully instead of treating either foreign or local software as an automatic solution.
Oladunjoye’s comments underline the importance of matching technology costs to local business realities. As more firms seek better records and stronger operational control, predictable pricing could become a key factor in software decisions.
Ultimately, companies that understand their digital spending, evaluate providers carefully and build reliable data systems will be better placed to manage currency uncertainty and grow sustainably.
