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Yudala Targets 24Hours E-Commerce Delivery, No 1 Spot in 2016- Founder

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Prince Nnamdi Ekeh, founder and vice president, Yudala, Nigeria
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Prince Nnamdi Ekeh, founder and vice president, Yudala, Nigeria’s first composite retail chain, has guaranteed the platform’s readiness to delivery items to customers within 24hours of placing order.

With this in mind, Ekeh, an e-commerce enthusiast, said Yudala tends to climb to the number one spot on e-commerce sector in the country before the end of 2016.

He made the remarks during a chat with newsmen in Lagos, adding that Yudala’s long term plan includes opening offline shops in each of the 774 local government areas in the country for closer ties with the customers.

He however, identified poor electricity power supply, low internet penetration and lack of skilled personnel as part of challenges facing the sector in Nigeria.

24Hours Delivery
According to the Yudala Founder, “This starts this year. We are spending a lot of money on getting vans and trucks to move our goods. The same-day delivery plan is for nationwide. In fact, wherever we have outlets, customers should expect same-day delivery any time from now.

To Top E-commerce Table In Nigeria
“I can’t really fix a date or time for it to happen. However, Yudala expects it can become the number one in the country by the end of this year.

Courier As Key To E-Commerce
He said, “E-commerce is trending globally and logistics/courier sector will benefit from it. But, right now there the country has not enough courier companies to deliver for the online. That is the power of the e-commerce”.

“Currently, we have an internal logistics arrangement and some external logistics companies we work with. Since we have both online and offline outlets, our long time plan is to have a robust internal logistics operations. If we are going to achieve our targets for same day delivery, we cannot rely on (external) logistics/courier companies, because at the end of the day they will require bulk items before delivering”.

Competing With the Likes Of Jumia, Konga, Etc.,
Ekeh said, “A lot of people compare us with the likes of Jumia, Konga, but we are very different. We have offline stores. Today, we the shop in Port Harcourt, we can give the customer better services. It will take others four to seven days to deliver to a customer in Port Harcourt, because they are not physically present there, but we have our shops and items located there. Remember, customer satisfaction is key to driving e-commerce growth. We are ahead of them in that aspect. Even if they build regional warehouses, the reach of our stores, which are closer to the people, guarantees better service. Our plan is to have a store in every local government in Nigeria.

Yu-Jara Campaign
He said that the campaign was very successful as that was the first time they introduced different categories, aside smartphones and mobile devices. “We brought in rice, wine; in fact, we surpassed our expectations. We got trucks of wine and within the first two weeks they were sold out sold out”.

More Campaigns
“This year we have a number of campaigns to run. In few weeks to come we shall be unveiling these campaigns; all geared towards giving Nigerians a better e-commerce experience”. 

Delivery by Drones, And Challenges
Speaking on the possibility of using drones to deliver purchased items across Nigeria, he said, “The idea of using drones for delivery on the black Friday in 2015 was to test the technology. A time will come when that aspect of e-commerce delivery will boom. Talking about crime minded individuals hijacking the process, it boils down to government regulations. It high time the government sat down and deliberate on how these technologies are harnessed for national/economic growth.

“If Nigeria can leverage the advantage of drones for e-commerce delivery before it spreads in the United States, it is even better for the economy. Although, not everybody can afford it, because it will incur between five to ten percent increase on the item purchased, but the technology is definitely for the future”.

Prospects of E-commerce In Nigeria
“I think the growth of e-ecommerce in Nigeria is going to be ‘crazy’ because looking at projections, e-commerce in the Middle-East and Africa tend to grow by 20% in 2016. That is the highest expected growth in the world. If you look at the likes of China, India and Asia, they have seen their growths in E-commerce.  The US have seen their growth in the e-commerce. This is the time for Africa and Nigeria in particular. Very soon even the government will start paying attention to e-commerce, because the industry is getting to a point government cannot avoid its place in the economy.

Expected $32billion Annual Turnover
“I agree with the projection that e-commerce sector can make about $32b because the Internet of Things (IoTs) will help drive e-commerce growth”. 

What To Expect From Yudala In 2016
“Customers should expect 24hours delivery. At the moment, others are guaranteeing four to seven-day delivery and they can cancel the delivery on the seventh day. Secondly, we source items sold on both our online and offline platforms directly from the companies, customers can be assured of best prices. And after sales services are important to us. Customer care is one aspect most businesses are defaulting. We are guaranteeing a paradigm shift on that. In Yudala, we offer the normal warranty that comes with the product and additional (in-house) warrantee like damaged screen, we replace it. It is all risk covered.

Job Creation
“We are consistently entering into partnership that will guarantee the customers the best shopping experience and create job opportunities for Nigerians. We have 400 workers since we started of whom 300 are graduates.

Challenges of E-Commerce Business
“The ultimate challenge before e-commerce in the country is the human resource. What is happening now is that we have to train the ones recruited and that costs a lot of resources. So, if they in already trained, it brings speed to the process. So, there is need to have e-commerce training facilities in the country. Secondly, the issue of logistics comes to mind. Moving goods around Nigeria is not very easy.

“If government can find a way to make this easier, it will boost the sector too. Thirdly, infrastructural deficit is affecting the business in terms of power, internet penetration. Online business is real-time. If there is point of downtime, the business will go down. If Yudala goes down for an hour, whatever order we are receiving, we can’t treat it”.  


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Fiona Ahimie Launches LEADHER Mentorship Session to Inspire the Next Generation of Female Leaders

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As part of activities leading up to her investiture as the 14th President of the Chartered Institute of Stockbrokers (CIS) and the first female President in the Institute’s history, Dr. Fiona Ahmed Ahimie, Managing Director of First Securities Brokers Limited, hosted the inaugural LeadHER Mentorship Session last week.

The session, themed “Leading with Purpose, Breaking Barriers, Building Legacy,” brought together emerging female professionals and aspiring leaders from across various industries for an engaging afternoon of mentorship, learning, and empowerment.

The LeadHER Mentorship Session was designed to provide participants with practical insights into leadership, career advancement, personal development, and navigating challenges in the traditionally male-dominated sectors.

Through candid conversations and shared experiences, attendees gained valuable perspectives on building successful careers while creating lasting impact within their organizations and communities.

Speaking at the event, Dr. Ahimie noted that leadership is not merely about achieving personal success but about creating pathways for others to thrive.

“Throughout my professional journey, I have benefited from the guidance, support, and encouragement of remarkable mentors. The LeadHER Mentorship Session is an opportunity to pay that forward by equipping and inspiring the next generation of women to pursue excellence, embrace leadership opportunities, and break barriers with confidence,” she said.

The mentorship session forms part of a broader commitment to advancing female participation and leadership within Nigeria’s financial services industry and the wider corporate ecosystem. It also reflects Dr. Ahimie’s longstanding dedication to talent development, professional excellence, and inclusive leadership.

The event provided a platform for meaningful dialogue, networking, and knowledge sharing.

Dr. Ahimie’s investiture as President of the Chartered Institute of Stockbrokers marks a historic milestone for the Institute and the Nigerian capital market, underscoring the growing role of women in shaping the future of the financial services industry.

 


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How Haneefah Adam Beat Artists Nationwide to Win Prestigious Futures Art Award

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Ventures Platform and the Yemisi Shyllon Museum of Art (YSMA), Pan-Atlantic University, are pleased to announce Haneefah Adam as the winner of the inaugural Ventures Platform–YSMA Futures Art Award, a pioneering public art commission established to support artistic innovation and future-focused cultural expression in Nigeria.

L-R: Kola Aina, Founding Partner, Ventures Platform; Dotun Olowoporokun, Managing Partner, Ventures Platform; Haneefah Adam, Artist and winner of the Futures Art Award; and Jess Castellote, Director, Yemisi Shyllon Museum of Art, Pan-Atlantic University during the Presentation of the Ventures Platform-YSMA Futures Art Award at Ventures Platform’s 10th Anniversary Dinner in Lagos on June 19, 2026.

The announcement was made during the 10th Anniversary Dinner of Ventures Platform in Lagos, where Haneefah was formally recognized following a competitive national selection process that attracted submissions from artists and art collectives across Nigeria.

As the winner of the Award, Haneefah will be commissioned to create a 12-foot public sculpture titled Bloom in Unexpected Places, which will be permanently installed within the YSMA and Pan-Atlantic University environment.

Selected through a rigorous jury process involving leading artists, curators, scholars, and cultural professionals, the proposal distinguished itself through its originality, conceptual strength, artistic ambition, and thoughtful engagement with the Award’s central theme: Reimagine the future and build into form through art.

The work explores themes of growth, resilience, innovation, and possibility, inviting audiences to reflect on how creativity and human ingenuity can flourish in unexpected circumstances and environments. Through its scale and public presence, the installation is intended to spark conversations about the future while enriching the cultural landscape of the University and the wider community.

The Award represents a landmark moment in Haneefah Adam’s artistic journey. While she has earned recognition for her innovative and socially engaged practice, this commission marks her first institutional award, her first major public art commission, and the largest public artwork of her career to date.

Speaking on behalf of YSMA, Museum Director, Jess Castellote described the Award as an important investment in both artists and public culture.

“At YSMA, we believe museums have a responsibility not only to preserve cultural heritage but also to support the creation of new cultural futures. Haneefah’s proposal impressed the Jury with its clarity, imagination, and relevance to contemporary conversations about innovation and possibility.

“We are delighted to support the realization of this ambitious work and to welcome it into the Museum’s growing public art programme.

“The Ventures Platform–YSMA Futures Art Award demonstrates what is possible when cultural institutions and private-sector partners work together to invest in creativity and public engagement.”

For Ventures Platform, the Award forms part of its broader vision of supporting the systems, ideas, and people shaping Africa’s future.

According to Kola Aina, Founder and General Partner of Ventures Platform: “As we celebrate ten years of backing visionary founders across Africa, we wanted to create something that reflects our belief that innovation is not confined to technology or business alone.

“The future is also imagined through culture, creativity, and the stories we tell about ourselves. This Award represents an investment in imagination itself.

“Haneefah’s proposal captures that spirit beautifully, and we are excited to see it come to life as a public artwork that inspires curiosity, reflection, and optimism.”

The Award is one component of a broader three-year collaboration between Ventures Platform and YSMA, which also includes entrepreneurship-focused masterclasses, guest lectures, and student engagement initiatives within the Pan-Atlantic University ecosystem.

Supporting the long-term legacy of the programme is Atsur Technologies Ltd, the exclusive Provenance Infrastructure and Physical-Digital Documentation Partner for the Ventures Platform–YSMA Futures Art Award. Through this partnership, every commissioned artwork produced under the Award will be professionally digitized, authenticated, and recorded using Artsur’s provenance and collection management technology, ensuring robust documentation of the artist’s creative process, the artwork’s history, and its enduring place within Nigeria’s cultural record. This partnership reflects a shared commitment to strengthening transparency, documentation standards, and the long-term preservation of contemporary African artistic production using innovative technologies.

Commenting on her selection, Haneefah Adam expressed gratitude for the opportunity and excitement about the journey ahead.

“I am deeply honoured to be the inaugural recipient of the Ventures Platform–YSMA Futures Art Award. To have my work selected from among so many strong submissions is both humbling and encouraging. Bloom in Unexpected Places is rooted in the belief that creativity, hope, and transformation can emerge even in the most unlikely circumstances. I look forward to working with YSMA and Ventures Platform to bring this vision into the public realm and create a work that invites people to think differently about the future.”

Beyond the commissioning of a single artwork, the Ventures Platform–YSMA Futures Art Award seeks to establish a new model for collaboration between the cultural and innovation sectors. By positioning artists as active participants in conversations about technology, entrepreneurship, and societal transformation, the Award expands the ways in which the future can be imagined, questioned, and made visible.

As work begins on Bloom in Unexpected Places, the project signals a bold commitment by both Ventures Platform and YSMA to nurturing creative talent, supporting public art, and fostering interdisciplinary approaches to shaping the future.


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ALTON Backs CBN on Local Data Hosting Rule for Banks, Fintechs

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Association of Licensed Telecommunications Operators of Nigeria (ALTON), official industry body and advocacy group for major telecommunications providers in Nigeria, has backed the Central Bank of Nigeria’s (CBN) directive requiring banks and fintechs to host payment transaction data locally.

ALTON Backs CBN on Local Data Hosting Rule for Banks, Fintechs

Gbenga Adebayo, chairman, ALTON

Gbenga Adebayo, chairman, ALTON, said this in an interview with the News Agency of Nigeria (NAN) in Lagosat the weekend.

His position follows a recent CBN directive mandating that banks, fintechs, and other payment service providers store payment transaction data generated in Nigeria on local servers from January 1, 2027.

The directive forms part of measures aimed at strengthening oversight of the country’s rapidly growing digital payments ecosystem.

Adebayo said data sovereignty required countries to take responsibility for their entire data value chain.

According to him, this covers data collection, management, storage, and integrity assurance.

“We cannot continue to outsource that to other jurisdictions.

“The more we host our data locally, the better for us,” he said.

Adebayo said local hosting would enable Nigeria to manage data end-to-end and guarantee the integrity of critical information.

He noted that hosting payment data outside the country increased communication requirements, latency, and retrieval costs.

“For every transaction involving data hosted outside our shores, communication has to take place from your location to the host and back.

“It increases latency and also increases the cost of data retrieval,” he said.

The ALTON chairman described the directive as an important first step toward achieving national data sovereignty.

He also dismissed concerns about infrastructure readiness, saying Nigeria already had significant data center capacity.

According to him, several Nigerian-owned facilities currently host data for organisations operating from other jurisdictions.

“I’m happy to say that we have a lot of data centres owned and managed by Nigerians that are hosting data from other jurisdictions.

“If people overseas can host their data here, why can’t we host our own data here?” he queried.

Adebayo argued that local hosting would reduce dependence on foreign infrastructure while improving national control over data security.

He said concerns about security and reliability should not justify continued reliance on foreign hosting providers.

“No one can protect your house better than yourself.

“You have more at stake in terms of security and safety than somebody else hosting your data,” he said.

The telecom industry leader also highlighted the cost implications of local hosting.

He said organisations that host data locally would pay in local currency rather than foreign currency.

According to him, this would help reduce exposure to exchange rate pressures and lower long-term operating costs.

Adebayo said Nigeria currently had about six Tier III data centres, with additional facilities under development.

He, however, stressed that capacity was more important than the number of facilities.

“It’s not just about the numbers; it’s about the capacity of what they can host.

“So far, we can,” he said.

He urged stakeholders to accelerate efforts toward domestic data hosting and management.

“The earlier we begin to domesticate our data hosting and data management, the better for us,” Adebayo added.

 

 


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