News
How Ecommerce Market leader Opened up Food Delivery Service in Nigeria
By Adedoyin Giwa
If there’s any industry that has witnessed tremendous growth, impact and success in recent years, it is the online food delivery sector. Thriving on technology and digitalization, online food service delivery is proving to be one of the best business ideas in recent times. With mergers and acquisitions, the global online food delivery market is estimated to reach $215 billion in 2024.
Robust Market
In Nigeria, what makes the sector enticing is the fact that there’s a huge market awaiting investors. Food is crucial for all, especially the working class in an ever busy environment like Lagos. And any service that can make it available without stress and hassle will be in good business.
With an estimated population of 200 million, the Nigerian food segment is estimated to be yielding a revenue of about $33.7 billion. According to data by National Bureau of Statistics (NBS) Lagos residents spent N830 billion eating out in 2019.
This is coupled with the increasing adoption of smartphones which allows customers access services via mobile apps. According to a report by Allied Market Research, the global food delivery mobile app market is expected to hit $16.6 billion by 2023.
Market leader
The investment of the likes of Jumia in food service delivery is helping to meet the yearnings of customers. Deploying Jumia logistics and technology infrastructure, the platform has been able to drive the reach of online food delivery in Nigeria. Jumia’s impact has further opened up for more investors, with the likes of Gokada and OyaNow feeding some segments of the market. The exploits of these players are shaping the supply chain and are growing the market for new entrants.
Industry innovation
Being the market leader, Jumia is also contributing to the growth of the industry with innovative thinking and implementation. In 2020, Jumia launched the Nigeria Food Index Report which is the first of its kind in the segment.
The report captured the growing popularity of fast food in Nigeria, and the positive impact as well as prospect for the Nigerian Agricultural sector. According to Jumia, the report will be a continuum as it will be released yearly.
Boost for local restaurants
More importantly, a marketplace like Jumia is having a positive impact on restaurants by giving them access to a wider audience. The platform is also enabling restaurants to stay ahead of their competitors. This was evident during the lockdown imposed by covid-19, when restaurants partnering with Jumia Food were able to sustain their businesses through the Jumia delivery network.
“Sales dropped drastically, companies shut down, and a lot of people lost their jobs. We’re grateful that Jumia kept their operation going; it was reassuring to customers, helped give them options for food at a very uncertain and difficult time, and for vendors like us, it was a huge help to still be able to keep sales going during that period. The sales we got through Jumia helped greatly in keeping our employees paid, and our operation running,” said Pop Singer and CEO, Sooyah Bistro, Bankole Wellington.
Interestingly, the Nigerian Food Index Report also revealed that local Nigerian cuisines lead the preference on Nigerians compared to continental dishes, with 64% of orders being placed for lunch.
Market Expansion
In a bid to further drive the growth of online food and beverage delivery in the Nigerian market, Jumia Food expanded its food delivery service to five additional states in Nigeria. The new additions regarded as tier-2 cities on the Jumia Food map, are Minna, Benin City, Kaduna, Abeokuta, Kano, and Ilorin.
In 2020, Jumia also recorded a major service improvement in its existing footprints in Lagos, Port Harcourt, Abuja and Ibadan by increasing its speed of delivery, with an average delivery time as fast as 26 minutes in Port Harcourt, 27 minutes in Lagos, 28 minutes in Ibadan, and 30 minutes in Abuja.
It is an open secret that the food industry is very relevant to the Nigerian economy. With today’s covid-19 realities, the growing popularity of fast food, the crave for convenience, safety and value for money, has opened up opportunities for the food market in Nigeria.
No doubt that the contribution of Jumia, the leading ecommerce platform in Nigeria and Africa is helping to explore the food segment of the Nigerian Agricultural sector which has the potential of huge contribution to the Nigerian economy.
News
Substandard CNG Cylinder is Recipe for Disaster- SON
Standards Organisation of Nigeria (SON) has warned the public against the use of substandard and uncertified Compressed Natural Gas (CNG) cylinders.
The warning is coming in the wake of the unfortunate recent incident of CNG cylinder explosion at the NIPCO CNG Refueling Station in Benin City, Edo State.
In a statement, the organisation said it has put robust and effective regulatory measures in place to ensure that all CNG equipment and conversion kits conform to approved standards before being certified for public use.
“The conformity assessment schemes are designed to prevent the import, manufacturing, and use of substandard products,” it stated.
In addition, SON said it is collaborating with the Presidential Initiatives on CNG and other relevant government bodies to finalise the Nigerian Gas Vehicle Monitoring System (NGVMS) – a platform that will provide centralized monitoring and surveillance of CNG systems to ensure that only vehicles equipped with certified conversion kits can access gas at retail outlets.
“The NGVMS will also offer a database of approved CNG equipment and suppliers which will go a long way in preventing the substandard installations and further mitigating the associated risks.”
News
Access Bank Wins Best Digital, Best Website at 2024 Digital Jurist Awards
Access Bank PLC has been named the 2024 Best Digital Award Winner in the Commercial Banks Category at the Digital Jurist Awards, organized by Phillips Consulting (pcl.).
In addition to this top honour, the Bank also secured the Best Website Award, achieving an impressive score of 201 points for its engaging and user-friendly digital experience. Access Bank’s cumulative score of 380 points reflects its excellence across digital touchpoints, including its website, web portal, mobile app, and social media.
Commenting on the recognition, Amaechi Okobi, Chief Communications Officer of Access Holdings PLC, said, “We are honoured to receive the Best Digital and Best Website Awards at this year’s Digital Jurist Awards. At Access, our focus on digital innovation is driven by our commitment to deliver seamless, secure, and customer-centric solutions across all touchpoints.
This recognition validates our ongoing efforts to enhance our digital platforms, making financial services more accessible and efficient for our customers. We thank Phillips Consulting for recognising our efforts and will continue to raise the bar in digital excellence.”
Phillips Consulting has long served as a development partner to Nigerian financial institutions and other organisations with an online presence. Leveraging its proprietary Digital Jurist platform, the firm has conducted assessments of digital touchpoints in various sectors, from financial services and insurance to telecommunications and government agencies, over the past 17 years.
Originally established as Web Jurist®, the platform was reimagined as Digital Jurist to assess new and diversified digital channels in the evolving digital economy. Digital Jurist’s evaluation framework examines a range of factors, including user experience, accessibility, performance, functionality, security, customer service, support, marketing, and content engagement across digital platforms.
These awards reinforce Access Bank’s leadership in digital banking, adding to recent accolades including 2024 Best Digital Bank and Best Mobile Banking App by World Finance, Best Mobile Banking App and Best Digital Bank by The Digital Banker Awards, and Best Digital Banking Initiative at the Global Retail Banking Innovation Awards 2024.
News
iPower Revolutionizes Home Power Solutions with All-In-One Inverter
iPower, a leader in alternative energy innovation, has unveiled its latest product—the iPower All-In-One (AIO) Inverter.
This cutting-edge inverter is set to transform energy management and accessibility with a complete, easy-to-install solution designed to meet modern power needs.
Now available on Konga at an unbeatable price, the iPower All-In-One Inverter combines convenience, efficiency, and flexibility, making it the ideal choice for homes, offices, and small businesses across Nigeria.
The iPower AIO inverter is designed as a plug-and-play energy solution, removing the need for complex wiring. Simply plug in your devices, and it’s ready for immediate use.
Its key feature—a robust, built-in lithium-ion battery—ensures reliable, long-lasting power storage. With its dual charging capability, the inverter supports both solar and electricity inputs, giving users the flexibility to stay powered in all conditions.
The product uses a powerful 2.5KW off-grid inverter paired with a 1.536KWh lithium-ion battery module. This plug-and-play design not only simplifies installation but also allows users to increase energy storage capacity as needed.
The compact design of the iPower All-In-One Inverter maximizes space savings, while its Smart Battery Management System (BMS) ensures safe and efficient battery performance.
Additionally, a built-in Wi-Fi module allows users to monitor system performance remotely, providing real-time updates on energy usage and battery status.
iPower AIO is built for optimal performance, featuring a Pure Sine Wave Output that provides smooth, reliable power, ideal for sensitive electronics. This design ensures stable electricity flow, protecting devices from sudden power fluctuations.
Additionally, the inverter includes a USB On-the-Go Function that enables direct device connectivity, adding convenience for users needing quick and reliable power access.
Offering flexibility in charging options, the inverter is compatible with both utility mains and generator inputs. It is also equipped with an anti-dust kit that shields internal components, enhancing durability and reliability over time. With advanced configuration settings, users can prioritize power sources and set AC/PV output usage timers.
The iPower All-In-One Inverter stands out with its user-centric design, built for durability, flexibility, and convenience. With safety and reliability at its core, the inverter ensures a continuous energy supply for diverse applications.
As with all iPower products, the All-In-One Inverter is designed to deliver maximally. For instance, the iPower Power 5kVA Inverter is a trusted choice for larger power needs, delivering consistent energy for high-consumption applications.
Additionally, the iPower 200Ah Inverter Battery provides extended backup power that complements iPower’s inverters, ensuring long-lasting performance during prolonged outages.
The iPower All-In-One Inverter is now available on Konga at the best price, offering exceptional value for a complete, ready-to-use energy storage solution. Embrace the future of energy with iPower and enjoy seamless power at your fingertips.
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