Chief Executive Officer of Statisense, Femi Bejide, has stressed the pivotal role of data-powered businesses in achieving sustained GDP growth and economic stability in the country.

Bejide, who spoke at the unveiling of Immortal AI, yesterday in Lagos, emphasised that economic progress was tightly linked to the success of local enterprises, especially when strengthened by insights from structured data.

He pointed out that the country’s path to economic democracy, a system where businesses of all sizes can thrive, depends heavily on the integration of reliable data solutions.

Bejide said that in advanced economies, business longevity often stemmed from data-driven decision making, adding that empowering businesses with predictive tools that improve decision making and risk management would reduce operational costs for SMEs.

“Economic democracy will not happen without strong businesses. Strong businesses will not happen without data, with SMEs making up over 90 per cent of Nigeria’s businesses and contributing over 50 per cent to the country’s GDP, the effective use of data tools, like Immortal AI, could represent a strategic lever for Nigeria’s broader economic transformation.

Speaking on Immortal AI, he said it aimed at transforming how African businesses, particularly SMEs, interact with and benefit from their data, helping enterprises harness unstructured and scattered data from platforms like social media, HR systems, and sales pipelines to scale sustainably.