VENTURES AFRICA – Nigeria, Africa’s second largest economy with a gross domestic product (GDP) of $263 billion, is one of the world’s fastest-growing economies. According to the World Bank and Euromonitor International, the country’s middle class has risen by 28 percent while its GDP based on purchasing power has increased by 21.67 percent in the last four years. The rise in consumer spending, coupled with the convenience of online transactions, has boosted the growth of Internet-based businesses in the country.

Industry Players

Nigeria’s Internet business industry is estimated to be worth $250 million. General merchandise online retailer Jumia, co-founded in June 2012 by a Ghanaian Harvard Business School graduate, Raphael Afaedor, together with Berlinbased Internet start-up incubator, Rocket Internet, is currently the largest ecommerce company in Nigeria. With cash-for-equity funds from investment giants such as JP Morgan, Summit Partners and Millicom, the company has raised over $50 million in the last 12 months. It ran multi-million dollar marketing campaigns that boosted its online store to the fourth most visited local site in Nigeria and processed over a million transactions within a year. In June, the company revealed its 10,000-square-foot ecommerce campus and a 90,000-square-foot warehouse, located in Lagos. Jumia’s local competitor and Nigeria’s second-largest ecommerce operator, Konga Shopping Company, founded by former Google Africa lead Sim Shagaya, also secured funds from Kinnevik – a Swedish investment group – and Naspers MIH Internet Africa – the Internet investment arm of South African media giant, Naspers – to grow operations, though the value of the investments is still undisclosed.


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http://www.ventures-africa.com/2013/09/nigeria-dot-com-emergence-ecommerce/

GEJ till 2019

Shebi dem dey do like say dem nova see this thread, abi??

28% Increase in d size of d Middle Class AND 21.67% in Purchasing Power in 4 years- According to d World Bank and Euromonitor. Meanwhile, d IMF already early this year moved Nigeria from a Lower-Income country to a Middle-Income country on its index.

Yet some pips wud tell me 'things are getting worst'. 'GEJ is not doing anything'..... Na dem go TIRE

taharqa: Shebi dem dey do like say dem nova see this thread, abi??.... 28% Increase in d size of d Middle Class AND 21.67% in Purchasing Power in 4 years- According to d World Bank and Euromonitor. Meanwhile, d IMF already early this year moved Nigeria from a Lower-Income country to a Middle-Income country on its index. Yet some pips wud tell me 'things are getting worst'. 'GEJ is not doing anything'..... Na dem go TIRE

yeye people

The sky is the starting point, once our Power problem is sorted(which is very imminent) and we stop wasting billions of dollars to import fuel (thanx to dangote ) Nigeria would witness a major economic leap forward. Surely better days ahead.

Ok, because we are buying Ipones and Blackberry phone, they think we are now middle class.

Most people still go to bed hungry and some even spend 50% of their salary on fuel in this 'jerrycan economy'. In my opinion, this is a lazy man research.

My two pence contribution.

Keneking: Ok, because we are buying Ipones and Blackberry phone, they think we are now middle class.

Most people still go to bed hungry and some even spend 50% of their salary on fuel in this 'jerrycan economy'. In my opinion, this is a lazy man research.

My two pence contribution.

And based on what research did you do to arrive at your conclusion that most people go bed hungry and spend 50% of their salaries on fuel? It sound like an ignorant man's research/ rantings to me.

Keneking: Ok, because we are buying Ipones and Blackberry phone, they think we are now middle class.

Most people still go to bed hungry and some even spend 50% of their salary on fuel in this 'jerrycan economy'. In my opinion, this is a lazy man research.

My two pence contribution.

What's this one saying

This is purely statistics! I kept telling people, how long will all this praise-singers continue to drum support for statistics on paper. Yes, it's on paper that Nigeria is 1 of the fastest growing economy of the world with 7% growth rate every year but unfortunately, this is only on paper as it does not translate to welfare of the populace. As a matter of fact, about 40 million Nigerians are still unemployed, epileptic power supply just to mention a few.

If the report is true, then it has to be those awarded sham and shoddy contracts, oil thieves, and various people who became stupendously rich over night when the poor are becoming poorer and the REAL MIDDLE CLASS have not fared better neither.

Femmyfamous4u: This is purely statistics! I kept telling people, how long will all this praise-singers continue to drum support for statistics on paper. Yes, it's on paper that Nigeria is 1 of the fastest growing economy of the world with 7% growth rate every year but unfortunately, this is only on paper as it does not translate to welfare of the populace. As a matter of fact, about 40 million Nigerians are still unemployed, epileptic power supply just to mention a few.

If the report is true, then it has to be those awarded sham and shoddy contracts, oil thieves, and various people who became stupendously rich over night when the poor are becoming poorer and the REAL MIDDLE CLASS have not fared better neither.

Fresh air never reach your house hood, So I don't blame you..

If i hear "Fresh Air"!!!!......Nigerians and investors in general have gotten smarter, they've embraced the spirit of entepreneurship and are focused on delivering goods and services to the teeming population...........Some are trying to atribute it to G.E.J.

As long as we keep fumbling with the 2600MW of electricity, those ancient trains and the snail paced reconstruction of the economic corridor of Nigeria, his efforts remain.....#Fresh pubic hair#.

And they say he is 'clueless' in his appointing technocrats like NOI, Aganga,Odua, deziani and minister of agric amongst others in his cabinet. The economy is booming gradually and the ĹOSER governors are callin for d sack of NOI. Gej would keep working while Tinubu rats wud keep hating

^ lol

President Jonathan is working while haters are crying.

Lmao.

Why 28% and not 280%?

Comedians!

shymexx: Lmao.

Why 28% and not 280%?

Comedians!

GEJ is working, HATERS are dying.

Sincere 9gerian:
GEJ is working, HATERS are dying.

Just as you're dead in the real sense of living because your brain cells and sense of reasoning objectively like a sane humanoid are dead...and you just exist based on the crumbs you receive.

“To live is the rarest thing in the world. Most people exist, that is all.”

Fresh Air noni , Evil men will be disappointed

Sincere 9gerian:
GEJ is working, HATERS are dying.

Eko ile died long ago.

shymexx:

Just as you're dead in the real sense of living because your brain cells and sense of reasoning objectively like a sane humanoid are dead...and you just exist based on the crumbs you receive.

“To live is the rarest thing in the world. Most people exist, that is all.”

GEJ is working, HATERS are convulsing!

^

Sincere 9gerian:
GEJ is working,HATERS are convulsing!

Yet another group from nowhere will come out and tell us that poverty is on the increase.

ba7man: If i hear "Fresh Air"!!!!......Nigerians and investors in general have gotten smarter, they've embraced the spirit of entepreneurship and are focused on delivering goods and services to the teeming population...........Some are trying to atribute it to G.E.J.

As long as we keep fumbling with the 2600MW of electricity, those ancient trains and the snail paced reconstruction of the economic corridor of Nigeria, his efforts remain.....#Fresh pubic hair#.

This should be amongst the silliest 'logic' I have ever heard

This world bank people, where did they get their data from? Is it the people under umbrella selling recharge cards that they are calling middle class.

28% of 160 million is 44.8 million people (approximately 45 million people). Honestly I refuse to believe this. We do not even have accurate data of all residents in this country.

The other time, Sanusi claimed to have brought down inflation to 9%. I went to the market and the price of rice and garri is still climbing. Ngozi smiled @ the camera and told us that our GDP is improving and I cannot see it.

If they tell me that this statistics are to wash foreign investors I will understand. What they are saying is synonymous to telling a man in hell fire that the temperature in hell fire is -7 degree Celsius.

ba7man: If i hear "Fresh Air"!!!!......Nigerians and investors in general have gotten smarter, they've embraced the spirit of entepreneurship and are focused on delivering goods and services to the teeming population...........Some are trying to atribute it to G.E.J.

As long as we keep fumbling with the 2600MW of electricity, those ancient trains and the snail paced reconstruction of the economic corridor of Nigeria, his efforts remain.....#Fresh pubic hair#.

Don't u fink that if GEJ is being praised for the economy growth is shows dat he is actually doin something ryt and for the slow construction, 2600MW n d oda slow stuff are being frustrated by the same Nigerians dat are complaining cos dey are always trying to be sharp men/women. It shows that the 1s dat actually do dere jobs has changed things to an extent. For anything to move fast and @ a better outcome we need every1 to work 2gether.

Boss13: This world bank people, where did they get their data from? Is it the people under umbrella selling recharge cards that they are calling middle class.

28% of 160 million is 44.8 million people (approximately 45 million people). Honestly I refuse to believe this. We do not even have accurate data of all residents in this country.

The other time, Sanusi claimed to have brought down inflation to 9%. I went to the market and the price of rice and garri is still climbing. Ngozi smiled @ the camera and told us that our GDP is improving and I cannot see it.

If they tell me that this statistics are to wash foreign investors I will understand. What they are saying is synonymous to telling a man in hell fire that the temperature in hell fire is -7 degree Celsius.

so from Чσυя own 'dumb' understanding, u equate middle class with the no. Of recharge card sellers? So until the price of garri cmes dwn u wud believe inflation has really dropped #cluelessposter

taharqa:

This should be amongst the silliest 'logic' I have ever heard

You look up to FG for everything so u automatically belive any progress is from them.

What do you think explains the explosion of jobs like Landscapers, musicians, music producers, Music video producers and directors, web designers, party planners, show producers, event planners, Architects, builders, Quantity surveyors, woodwork specialists, on-line retail stores, bloggers, professional photographers, Videographers, models, fashion lines, Decorators, mobile car-washes, mobile advert vans, cocktailiers, professional auto mechanics, caterers, motivational speakers, Consultants, Professional Drycleaners, hoteliers, O.A.Ps, D.Js, T.V Presenters....... ETC. They're so much, i have to stop.

What has G.E.J done that led to this job explosion?? Even during O.B.J's era, it was Banking and Telecommunications that were the "in" professions but now they're so numerous that dwarf them in returns.

10 years ago, a lot of those professions above had little or no importance in Nigeria but due to exposure, Nigerians are creating jobs out of nothing. Do you think anyone is waiting on the "YOU WIN" program??


Nigerians within and in Diaspora are developing ideas to turn the country around, rather than wait for the FG. I give credit to the smart, hardworking Nigerians that chose to be "Job Creators" rather than "Job Seekers".


So what's your own logic, oga

ba7man: You look up to FG for everything so u automatically belive any progress is from them.

What do you think explains the explosion of jobs like Landscapers, musicians, music producers, Music video producers and directors, web designers, party planners, show producers, event planners, Architects, builders, Quantity surveyors, woodwork specialists, on-line retail stores, bloggers, professional photographers, Videographers, models, fashion lines, Decorators, mobile car-washes, mobile advert vans, cocktailiers, professional auto mechanics, caterers, motivational speakers, Consultants, Professional Drycleaners, hoteliers, O.A.Ps, D.Js, T.V Presenters....... ETC. They're so much, i have to stop.

What has G.E.J done that led to this job explosion?? Even during O.B.J's era, it was Banking and Telecommunications that were the "in" professions but now they're so numerous that dwarf them in returns.

10 years ago, a lot of those professions above had little or no importance in Nigeria but due to exposure, Nigerians are creating jobs out of nothing. Do you think anyone is waiting on the "YOU WIN" program??


Nigerians within and in Diaspora are developing ideas to turn the country around, rather than wait for the FG. I give credit to the smart, hardworking Nigerians that chose to be "Job Creators" rather than "Job Seekers".


So what's your own logic, oga

dumb poster, the FG has created 'favorable' environment for investors to create Чσυя 'jobs explosions'. All you do is blindly criticize everytin the FG does wen u are too dumb and retarded to undstand the impact it has done in Чσυя lives.#cluelessposter

ba7man: You look up to FG for everything so u automatically belive any progress is from them.

What do you think explains the explosion of jobs like Landscapers, musicians, music producers, Music video producers and directors, web designers, party planners, show producers, event planners, Architects, builders, Quantity surveyors, woodwork specialists, on-line retail stores, bloggers, professional photographers, Videographers, models, fashion lines, Decorators, mobile car-washes, mobile advert vans, cocktailiers, professional auto mechanics, caterers, motivational speakers, Consultants, Professional Drycleaners, hoteliers, O.A.Ps, D.Js, T.V Presenters....... ETC. They're so much, i have to stop.

What has G.E.J done that led to this job explosion?? Even during O.B.J's era, it was Banking and Telecommunications that were the "in" professions but now they're so numerous that dwarf them in returns.

10 years ago, a lot of those professions above had little or no importance in Nigeria but due to exposure, Nigerians are creating jobs out of nothing. Do you think anyone is waiting on the "YOU WIN" program??


Nigerians within and in Diaspora are developing ideas to turn the country around, rather than wait for the FG. I give credit to the smart, hardworking Nigerians that chose to be "Job Creators" rather than "Job Seekers".


So what's your own logic, oga

dumb poster, the FG has created 'favorable' environment for investors to create Чσυя 'jobs explosions'. All you do is blindly criticize everytin the FG does wen u are too dumb and retardded to undstand the impact it has done in Чσυя lives.#cluelessposter

safepassage2015: dumb poster, the FG has created 'favorable' environment for investors to create Чσυя 'jobs explosions'. All you do is blindly criticize everytin the FG does wen u are too dumb and retardded to undstand the impact it has done in Чσυя lives.#cluelessposter

Which favourable environment?

Is it Millitancy ?? High rate of Kidnapping?? Boko-Haram?? Ombatse?? The killings in Jos?? Epileptic power supply?? Corruption?? The railway line that struggles to complete a trip? ......Frankly, Nigeria has never been in a state of anarchy like this in a long time. Investors still troop in because of the high population, not because of what G.E.J told them. Its the citizens that lift this nation, not the F.G.


Don't be vague, pls highlight the "Favourable Environment" that inspired the populace to start developing ideas to create employment.

taharqa:
Shebi dem dey do like say dem nova see this thread, abi??

28% Increase in d size of d Middle Class AND 21.67% in Purchasing Power in 4 years- According to d World Bank and Euromonitor. Meanwhile, d IMF already early this year moved Nigeria from a Lower-Income country to a Middle-Income country on its index.

Yet some pips wud tell me 'things are getting worst'. 'GEJ is not doing anything'..... Na dem go TIRE

28%?! Dude, yall don't even know how many people reside in ur country.