General News
Key Dimensions that Will Drive Nigeria Online Marketplace Space in 2016- Masha

Lola Masha is the country manager, OLX Nigeria, the leading online classifieds player in the country. Masha joined OLX Nigeria in February 2014 with the goal of building a world-class, trusted and secured online classifieds business that stands out from its competition.
She holds PhD. in Engineering from the University of California, Berkeley. Masha is an outstanding individual with expertise in business development, entrepreneurship, operational transformation, strategy and product development, across numerous industries including technology and consulting.
She has significant international experience and has worked with brands like Google and McKinsey Consulting. In this interview with Peter Ugwu, she swiftly reviews e-commerce space in Nigeria in 2015 while discussing OLX’s ambition for growth in the market in the new year.
Assessment of the Online Marketplace in Nigeria in 2015
It has been an exciting and rollercoaster year. If I compare our successes to the challenges, I think it has been very successful. We started the year with a team of ten (10), but today, both the contract and fulltime staff we are close to 175 people.
So, we have grown tremendously in terms of staff strength. We also look at traffic to the website, we have grown to over 65% from January till date.
We have continued to get positive responses from the users on OLX platform. Because of this, we have made improvement in terms of awareness among the Nigerian online community.
Increased Partnerships
Our partnership over the year were fantastic. One thing we believe in at OLX is that we can’t do it alone. We have a culture of collaborations, partnerships and learnings.
So, we actually, actively, seek other organisations to work with; grow the brand and be able to contribute towards the industry’s growth here in Nigeria.
We have been very pleased with the results from our various partners and tend to do more in 2016 and moving forward.
Nigeria Online Marketplace Market Maturity
The Nigerian online market place has definitely improved, but still quite young. If I look at the percent of Nigerians currently using online classified, irrespective of platform, I think the percentage is still low and needs to improve.
As an industry, we still have a lot of work ahead of us, but we should be able to celebrate how far we have gone in educating the Nigerian users on how to trade safely and successfully on OLX.
Competition
Absolutely, competition has pushed us to be innovative to stay ahead of the game. When OLX started three years ago in Nigeria, the platform wasn’t the first (in the country), and we know how hard we had to work to get to the number one position; if possible to overtake the current players.
So, constantly, we are on our toes, innovative and definitely not relaxing in anyway. We are confident that with the team, ideas and products we have we are positioned to meet the demands of our users and succeed in Nigeria.
Winning and Maintaining Users’ Confidence
It has been very positive, been the response rate from OLX users. If I think about the reactions we have been getting this year versus last year, frankly, it has been 360 degrees turn around.
We have to do that again by focusing on trust and safety. We are doing everything possible to keep the site safe for the Nigerian people, prioritizing those elements that are peculiar to us.
OLX’s View About The market
We are positioned for success. We are long term investors, not for quick wins. We are here to play, stay and win.
E-Commerce Platforms and Cybersecurity
During the year, OLX in collaboration with MOMO and other stakeholders’ oraganised a session where issues on e-commerce space in Nigeria and the cyber related security issues were extensively discussed.
Part of the event was to showcase some of the technology and human elements we have deployed to protect our users on the website, including physical verifications. We have close to 160 people in field in Lagos, who physically verify items.
That has worked very successfully. We have changed the OLX platform; it looks very different now. During the process of changing the platform, we integrated some security apparatuses that allow us to dictate fraud related postings.
Corporate Social Responsibility
We engaged in some CSR programmes during the year and they are now not a sort of one-off thing. CSR is a continuous activity for us.
We engaged in OLX-Gives-Back campaign to support the School for the Blind and other charitable organisations.
This December, we supported a campaign called ‘Fit Yaba’ and the idea was to race consciousness around health and reducing illnesses. We supported the organization in collaboration with the Co-Creation (CC-Hub) and others.
Predictions for 2016
We expect to have our best year ever in the country in 2016. Every year has been interesting and exciting, and we have learnt a lot, but believe 2016 is our year of new growths, developments, and more successes.
On general perspective, there are three different dimensions to consider. First, change of perception around trust and safety of the classified e-commerce model. Secondly, there will be more players in the field, which will help to educate users, so that an average Nigerian will be educated on how to trade safely. We also expect growth to happen in a very big way. Once users are aware on how to simply use OLX, we expect the adoption to increase.
We have seen this trend in verity of technology platforms. When the mobile phone was introduced in Nigeria, it was from a very small base.
The Phones, SIM cards were very expensive, but currently, we have about 155 million mobile subscribers. That is phenomenal growth and due to the power of perception.
Once Nigerians understand how technology works, see the real value and how it impacts their lives, Nigerians are fast adapters. We expect the same with online classified ad as well. We have seen this happen with the messaging platforms like WhatsApp and Facebook. The rate at which they have grown and successful in Nigeria, again, speaks to the fact that once a products creates value, Nigerians will definitely come on board.
I must say that 2015 has been a great and fantastic year. We appreciate our numerous users for their continuous support and feedbacks and we look forward to a more exciting year in 2016
General News
MENXTT TECH NG Offers Affordable Dell Laptops with Flexible Payment Plans

MENXTT TECH NG, a Lagos-based technology company, has launched an initiative to make quality Dell laptops more affordable for Nigerians through flexible payment plans and extended warranty support.

The company said the initiative was aimed at helping students, entrepreneurs, professionals and small businesses acquire reliable computing devices despite rising technology costs.
According to the company, customers can now purchase premium pre-owned Dell Latitude, Dell Precision and Dell Inspiron laptops at competitive prices, with selected models available under staggered payment arrangements.
The laptops, it said, are designed to meet the needs of users ranging from students and office workers to architects, engineers, software developers, graphic designers and video editors.
Speaking on the initiative, the Co-Founder of MENXTT TECH NG, Mr Anthony Emeka Nwosu, said access to quality technology should not be limited by financial constraints.
“A laptop is no longer a luxury; it is an essential tool for education, business and career development.
“Unfortunately, many people are forced to settle for unreliable devices because of the high cost of new laptops.
“At MENXTT TECH NG, we want to bridge that gap by providing durable Dell business laptops at affordable prices, backed by a full one-year warranty and flexible payment plans.
“We want every student, entrepreneur, freelancer and business owner to have access to technology that helps them succeed,” he said.
Nwosu explained that every laptop undergoes comprehensive testing before delivery and comes with a one-year warranty, an original charger, a complimentary laptop bag, Windows 11 operating system and Microsoft Office Suite pre-installed.
He added that the company, an authorised Bitdefender Antivirus reseller in Nigeria, also installs genuine Bitdefender security software on every system to protect customers against cyber threats.
According to him, customers requiring additional productivity tools can also have licensed Foxit PDF software installed on their devices.
Nwosu said the flexible payment option was introduced in response to prevailing economic realities, enabling customers to spread payments over an agreed period.
He noted that the arrangement would make it easier for students, startups and growing businesses to acquire quality computers without placing excessive pressure on their finances.
Beyond laptop sales, the company provides information technology consultancy, computer repairs, software licensing, cybersecurity solutions and digital transformation services to organisations across Nigeria.
He reaffirmed the company’s commitment to supporting Nigeria’s digital economy by making dependable computing devices and enterprise technology solutions more accessible to individuals and businesses.
According to him, the initiative reflects MENXTT TECH NG’s vision of combining affordability, quality products and professional after-sales support to help more Nigerians participate in the country’s expanding digital ecosystem. (NAN)
General News
Nwokolo, Nollywood Actor Claims Internet Fraud is “Keeping Economy Afloat’

Ugo Nwokolo, Nollywood actor, has shared a controversial opinion on internet fraud, saying it has been keeping the nation’s economy afloat amid a tougher economic climate.

Ugo Nwokolo, Nollywood Actor
Nwokolo made the assertion in a video interview currently circulating on social media.
According to the actor, the cost of living and soaring house rent have made life unbearable for legitimate income earners.
He said high rent in major cities like Lagos and Abuja has edged out those earning N50,000 and N90,000 monthly.
Nwokolo said, “Personally, I think Yahoo has helped keep the economy afloat. Do you expect a civil servant to afford house rent of N3 million or N5 million in Abuja?”
The actor maintained that only the rich, including fraudsters, could meet up with the rising cost of living.
“If you go to Lagos now, the least you’ll see for a two-bedroom apartment is about N7 million or N8 million. Who is supposed to afford it? The civil servants? Of course, it’s the fraudsters,” he stressed.
However, he argued that he was not justifying crime but merely stating fact.
“I’m not justifying crime, but yes, Yahoo is helping the economy. How do you expect people to live in this kind of economy?” he said.
General News
Dangote Plans to Donate One-Third of Wealth to Charity as Legacy

Aliko Dangote, Africa’s richest man, plans to dedicate one-third of his wealth to charity as part of his succession plan, Halima Dangote, his daughter, has revealed.

Aliko Dangote
Halima, a trustee of the Aliko Dangote Foundation, disclosed this in an interview with Bloomberg published on Tuesday, saying the billionaire had secured the support of his family to commit 33 per cent of his estate to philanthropy.
According to the Bloomberg Billionaires Index, Dangote’s net worth is estimated at $35.1 billion, meaning one-third of his current wealth would be worth about $11.7 billion if his fortune remains at that level.
Halima explained that her father views philanthropy as a key part of his legacy and has incorporated it into the family’s long-term succession plans.
She said Dangote had structured his estate to ensure that charitable giving continues across generations, particularly in areas such as healthcare and education.
“He sort of put all the structure in place whereby we focus a lot on health and education. He actually donated 25 per cent to the foundation. If you look at it, it is what we call in Sharia Code in Islam; it means he has donated 33 per cent of his whole inheritance to his foundation,” she said.
Halima added that Dangote believes giving back is central to the success of his businesses and the family’s values.
She said the billionaire asked her, her two sisters, and his mother to sign the agreement allowing 33 per cent of his inheritance to be dedicated to humanitarian causes.
The planned donation builds on Dangote’s longstanding philanthropic activities through the Aliko Dangote Foundation, which was established in 1994.
According to Halima, the foundation received an endowment of $1.25 billion about a decade ago and has since received an additional $700 million in funding.
She said about 70 per cent of the foundation’s spending goes to programmes in Nigeria, while 20 per cent supports projects across Africa, with the remaining funds directed to initiatives in other parts of the world.
The foundation’s interventions focus on healthcare, education, nutrition, and humanitarian support, including partnerships that contributed to the eradication of wild poliovirus in Africa.
Dangote’s planned charitable commitment adds to increasing global attention on billionaire philanthropy.
Although the proposed 33 per cent allocation is below the 50 per cent commitment associated with the Giving Pledge, it would rank among the largest philanthropic commitments announced by an African billionaire.
Earlier this year, Dangote was named among the world’s most influential philanthropists by TIME magazine’s inaugural TIME100 Philanthropy list, recognising the impact of the Aliko Dangote Foundation, which reportedly spends more than ₦50 billion annually on programmes across Africa.
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