General News
OLX Believes Classified Ads Space in Nigeria is Booming – Masha
Lola Masha is the country manager, OLX Nigeria, the leading online classifieds player in the country. Lola Masha joined OLX Nigeria in February 2014 with the goal of building a world-class online classifieds business that stands out from its competition.
Lola, holds a PhD in Engineering from the University of California, Berkeley. She 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 shares her passion about the e-commerce space in Nigeria, discussing OLX’s ambition for growth in the market.
The Concept: OLX
OLX is the number one online classifieds site in Nigeria and in some markets globally. It is a vibrant platform for buyers to meet sellers to trade. We are an online marketplace operating in 40 countries in the world. We have about 200 Million monthly active users globally.
The Place of OLX in Nigeria’s e-Commerce Market
We are replicating our global achievements in Nigeria. Today, OLX is the leading online classifieds site in Nigeria by a significant margin. We have over 120,000 ads currently live on our platform across different categories such as vehicles, mobile phones, electronics, real estate that users have posted to sell to other potential buyers.
The Motivation behind Users’ Adoption of the OLX Platform
Trade is a universal need and it has happened for generations. What we do differently to facilitate trade is to provide a rich platform and excellent customer support to guide our users through the process.
At the end of the day, success is defined on the platform as being able to sell or buy a particular product. We continuously optimize our platform to ensure that our users are successful.
Challenges of Grooming/Expanding E-Commerce Platforms in Nigeria
The most important priority for us here in Nigeria is trust and safety. We need to ensure that our users feel safe and secure when they use the OLX platform.
When they feel secure, they are likely to return for more transactions. We are also doing several things to achieve trust through customer support; we review all ads posted on OLX to ensure they meet our safety criteria and requirements.
We are constantly ensuring that the ads that go live on the site are high quality ones round the clock.
Secondly, we educate our users on how to trade safely by providing safety tips on all our social media platforms. We also communicate safety tips through marketing campaigns; TV and radio commercials, radio shows and partnerships with media influencers to help educate the public.
As long as users follow our safety tips, we can assure them that they will have a safe and wonderful experience on our platform.
Some of the key safety tips are: never pay in advance; inspect the item carefully before making a purchase, meet in a public place to make the exchange and partner with us by reporting fraudulent users using the report button on the site, call or email. Simply, OLX is an online representative of what happens offline.
The same way when you go to buy a used car you first test-drive it, you get a mechanic to inspect its engine and other sensitive parts or when you buy a TV from a friend you test it to make sure it works. Users who currently follow all the necessary precautions offline, should replicate them when they use OLX.
The Alleged Nanny Employed Through OLX
What the nanny incident indicates and what became very clear to us is that Nigerians do not yet understand the difference between the online classifieds model and the e-tail model.
It also implies that we need to intensify efforts on user education, particularly on the online classifieds model, our business approach and the value the platform offers.
If this were to have happened in the United States or the United Kingdom, it would not be news, because people understand the classifieds model or if a driver was recruited via a traditional newspaper classified section and he steals, it wouldn’t make the news either.
The Foreign Investors’ Domination of Nigeria e-Commerce Space
It is never easy to build a flourishing e-commerce platform, but there are successful stories of Nigerian entrepreneurs building businesses from the ground up to enviable heights. I do not see foreign investments as a negative trend rather it is money coming into the country.
What is important is that Nigerians are able to leverage it to improve the economy that includes, creating jobs, building a stronger logistics sector, e-payment and other services required in the ecommerce eco system.
E-commerce is here to stay and any economy that values it does everything possible to protect the sector.
I think users see value in the convenience, the variety of products and access it has provided. It is a positive platform for the country and important that it continues to contribute to the economic growth of the country.
Regulations
We are fully open and in support of working with the regulators to ensure the ecommerce industry grows. It is in our interest to partner with the relevant stakeholders; the regulators, government agencies, competitors and other service providers. We must work together to make e-commerce a viable and sustainable industry in Nigeria.
Differentiating Electronic and Traditional Commerce Models
For online classifieds, one of the advantages is the access to a wide variety of goods and services conveniently.
The information you get using online classifieds compared to print classifieds is a richer set of features. If you are going to sell your car via the newspaper classifieds section, of course it wouldn’t be on the front-page but online, you can add richer content like colored pictures, detailed descriptions and so on.
OLX Acquisitions in Nigeria
Yes, the acquisition of our competition shows that Nigeria is a priority market for us. OLX is committed to the market; we are here to stay and thrive.
If that means acquiring our competition, we are fully on ground to do so. It also speaks about the culture at OLX, we move very fast in getting things done to be successful.
Broadband and e-Commerce Growth in Nigeria
There has been a lot of progress in the last five years, which includes scaling up internet penetration in the country. I think at the moment the penetration rate stands at 38%, whereas it was less than 10% a few years ago.
However, we still have a lot of work to do in this sector. We recently partnered with MTN on the MTN APPtitude campaign to provide users the opportunity to download the OLX app free of data charges. This is an added advantage to our users, because we know data is still expensive in the market.
OLX’s Market Share Target
Our immediate target is to enhance consumer trade. Although we are leading the classifieds site in Nigeria, the market is still quite immature. Our ambitions are to work with other stakeholders and lead the way to successfully grow the e-commerce space in Nigeria. With continued focus on delighting the Nigerian users, it is clear that OLX will continue to dominate the online classifieds space in Nigeria and across Sub-Saharan Africa.
General News
NiDCOM Launches Diaspora Startup Challenge to Boost Nigerian Talent

The Nigerians in Diaspora Commission (NiDCOM) has sought to harness the innovation and expertise of Nigerians across the globe with the launch of the Connected Diaspora x DOWA Start-Up Challenge and the Connected Diaspora Flagship Event 2025.

Speaking at a news conference in Lagos, Abike Dabiri-Erewa, Chairman/CEO of NiDCOM, described the initiatives as timely and transformative, noting that they are strategically designed to tap into the creativity, enterprise and professional strength of Nigerians in the diaspora.
She said the Start-Up Challenge, themed “Building, Breaking and Believing in Nigeria,” aims to energise innovators abroad by promoting knowledge transfer, enterprise development and strategic investment to support Nigeria’s rapidly expanding economy.
According to a statement by NiDCOM, the challenge, which offers cash prizes of up to ₦1 million, is targeted at spotlighting exceptional ideas and supporting impactful ventures created by Nigerians living overseas.
According to Dabiri-Erewa, the initiative aligns with the Federal Government’s overarching goal of engaging the diaspora community as key partners in national progress.
She further announced that the Connected Diaspora Flagship Event will take place on December 19, 2025, in Lagos, and will bring together entrepreneurs, policymakers, investors, technology leaders and strategic partners for critical discussions on Nigeria’s future.
Kadiri Hamzat, Deputy Governor of Lagos State, will serve as the Special Guest of Honour and is expected to speak on the importance of collaboration between government and the diaspora in accelerating development.
NiDCOM also revealed that notable contributors from the global diaspora community and Nigeria’s entrepreneurship ecosystem will enrich the sessions and help shape new pathways for meaningful engagement.
Dabiri-Erewa said their support remains invaluable in driving the success of the initiative. She emphasized that their continued collaboration helps unlock the potential of Nigeria’s global talent pool and fosters sustainable economic growth.
The Commission called on stakeholders across both the public and private sectors to support the initiative, stressing that the opportunities for innovation, collaboration and nation-building are immense.
NiDCOM urged young Nigerians and diaspora returnees to participate actively in the Start-Up Challenge, reminding them that entries close on December 12, 2025.
The December event will also feature a Diaspora Talent Career and Internship Fair, aimed at connecting diaspora returnees with internship opportunities offered by DOWA partner organisations.
NiDCOM said the fair will further strengthen talent exchange and deepen the country’s development capacity.
The programme timeline includes the opening of applications for the Start-Up Challenge from November 18 to December 12, followed by public voting on Instagram from December 13 to 17.
The winner will be announced on December 18, ahead of the final presentation at the JK Randle Centre in Lagos on December 19.
NiDCOM encouraged interested participants to follow the provided registration details and take advantage of the platform created to connect, innovate and contribute to national advancement.
General News
PromoPrint Rekindles Nigerian Resilience @ 25th Anniversary

Indigenous printing company, PromoPrint Ventures Ltd, celebrated 25 years of operations in the country on Tuesday 2nd December, at an event held at the Lagos Motor Boat Club in Lagos.

The evening saw business executives, clients and stakeholders in the printing space gathered to attest to the dexterity and Nigerian resilience demonstrated by Mrs. Patricia Ojora, the Founder and Chief Executive of the company in sustaining the growth of PromoPrint over the last 25 years.
Amongst many things on display that evening were PromoPrints very first t-shirt printed in the year 2000. Guests also cheerfully adorned custom-made patterns done by Promoprint on our indigenous cotton fabric (Funtau).
In her opening remarks, Mrs. Patricia Ojora recalled the past 25 years of operation in Nigeria at the helm of PromoPrint. While not easy, she says:
“We’ve been able to do it and we enjoy it. There’s nothing better than creation. To create something from nothing and do it so well, it’s a passion for me. It’s something that I really, value. I’m a great supporter of Nigeria, so I believe that we should be able to do things well in Nigeria. We don’t need to always import, that’s why we’re doing this today, to be able to collaborate with people. Most of the people here are people we’ve collaborated with and have worked hard to build Nigeria back up”.
She recounts how she was able to change the narrative of many Nigerians that were printing outside of the country who are now printing with PromoPrint Ventures. “People used to print outside the country because they didn’t trust the quality that was here in Nigeria,” Patricia explains with an understanding that “we can produce good quality here within Nigeria.”
The company is a one-stop shop for all things printing with all operations happening in-house, from the expertise of crafting graphics and garment production to the t-shirts, roller banners, corporate gifts and more being rolled out on a daily basis. “What we are selling is peace of mind in a chaotic place.” Patricia says, with nearly three decades of successful operations and collaboration under her belt.
Significantly, she makes sure the company remains primed for the future, using AI and the like to remain progressive in strategy and implementation. Patricia proudly states, “Our automated printing carousel can churn out 10,000 tees a day if needed and our many corporate clients can attest to this.”
In attendance was Atedo Peterside (CON), Founder, Stanbic IBTC Bank Plc, one of many guests in the room who spoke to PromoPrints impact. “There’s something about longevity,” he shares with the crowd, “If you’ve kept the business going for 10 years, I always tell people, it means you’re doing something right. If you get it going for 20 years, you’re doing something very correct. Patricia must be doing something phenomenally right and it’s my sincere hope that she keeps it going, keep building, keep innovating.”
“Patricia can create almost everything,” Peterside remarks, “she has the courage, audacity and the commitment.”
Mrs. Ibukun Awosika, Nigerian businesswoman and the first female Chairperson of First Bank of Nigeria, contextualises the tenacity of Patricia’s efforts rather well. She reminds the room that “when you think of how many big multinationals who have so much that protects them, who have a lot of support systems internationally and locally, who gave up on Nigerian manufacturing, then you have to go back and think about those of us like Patricia.”
Even after 25 years, Nigeria remains in need of more Entrepreneurs, particularly those like Patricia, to boost the SME and manufacturing industry in the country despite the odds. “She didn’t give up,” Awosika says in admiration.
“What is key is that, when we celebrate the likes of Patricia and her company, we know without a doubt that it’s not just because they want to have a celebration. It’s because, in truth, the Nigerian entrepreneur is a star, and even more so, the Nigerian manufacturer.” Awosika concludes.
So, we celebrate Mrs. Ojora and her PPV entire team, and all that has gone into 25 years of hard work, commitment, creativity, we also recognise the passion that does not allow you to give up on the vision, the commitment to not only creating jobs for other Nigerians but creating value within Nigeria. The commitment to innovating a solution for every challenge and every situation. Indeed, it was a worthy celebration.
General News
Optimus AI LABS CEO Showcases AI Breakthroughs in Nigeria’s Financial Sector

Mr. Lanre Basamta, Chief Executive Officer and Co-Founder of Optimus AI LABS, has unveiled a suite of artificial intelligence innovations poised to transform Nigeria’s financial services industry, aligning with recent Central Bank of Nigeria (CBN) directives on consumer protection and fraud prevention.

Optimus AI LABS
Basamta, speaking at a media parley in Lagos, said the company’s flagship product, Omnis, is redefining customer engagement in banking by serving as a virtual assistant embedded within mobile applications.
According to him, the platform is capable of analyzing customer behavior to recommend tailored financial products, effectively functioning as a “digital salesperson” that boosts bank revenues while enhancing customer experience.
He noted that Optimus AI LABS, which began as a modest startup targeting small businesses such as schools, has now identified greater opportunities in serving banks, fintechs, and microfinance institutions.
“The financial sector presents the biggest opportunity for AI to deliver value at scale,” Basamta said.
In response to rising fraud concerns and new CBN regulations mandating resolution of fraud cases within 14 days, Basamta highlighted the company’s AI-powered support platform designed to address customer frustrations over delayed assistance.
The system, he explained, interacts naturally with users, resolves issues promptly, and escalates unresolved cases, thereby strengthening compliance and improving customer satisfaction.
Basamta also recounted the firm’s global expansion, citing its work with Canadian clients, including the development of a dental learning environment for a major dental group.
He said this international footprint demonstrates Nigeria’s capacity to compete globally through homegrown innovation.
Reflecting on the company’s relocation into office space formerly occupied by KUDA, a fast-rising Nigerian fintech, Basamta expressed optimism that Optimus AI LABS is on a similar trajectory toward scaling into a major industry player.
He emphasized that the company’s growth would contribute not only to technological advancement but also to national development.
Basamta concluded by appreciating partners and stakeholders, stressing that “big things can emerge from small beginnings when powered by AI’s transformative capabilities.”
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