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
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
FG to Deploy Drones to Curb Oil Theft in Niger Delta – Lokpobiri
Senator Heineken Lokpobiri , minister of State for Petroleum Resources (Oil), at the weekend said the federal government would deploy new technologies like drones and satellite surveillance to halt massive oil theft in the Niger Delta.
Lokpobiri also called for greater commitment from industry players to Nigeria’s ambitious plan to increase crude oil production by over one million barrels per day within the next 24 months, saying the federal government was ready to host the headquarters of the $5 billion Africa Energy Bank (AEB), following the country’s successful bid in July 2024.
Addressing a gathering of the Oil Producers Trade Section (OPTS), a group of oil firms operating in Nigeria, at the Cross Industry Group (CIG) meeting in Istanbul, Turkey, at the weekend, Lokpobiri also restated that oil field bid winners must explore or relinquish them.
Nneamaka Okafor, minister’s spokesperson, said in a statement that Lokpobiri’s remarks were part of a strategic plan to navigate the challenges and opportunities in Nigeria’s petroleum industry presented to the producers.
Underscoring the sector’s central role in Nigeria’s economy, which the minister said provides around 85 per cent of government revenue as well as serves as a vital source of foreign exchange, the minister said there was the need for the oil sector to remain resilient.
He acknowledged the persistent security challenges in the Niger Delta but reported ongoing efforts to protect Nigeria’s oil infrastructure through enhanced security measures.
Aside from engaging communities and encouraging partnerships to foster local ownership of critical assets, Lokpobiri stated that other efforts include increased military support, particularly from the Nigerian Navy and the Joint Task Force (JTF).
“The government has also implemented technology-driven solutions, including drone and satellite surveillance to enhance the security framework and detect potential threats to the industry,” the minister said.
The minister outlined Nigeria’s dual approach to energy transition to ensure the future of its petroleum industry by focusing on maximising crude oil production and adapting to a cleaner energy transition.
“In the short-term, our focus remains on increasing revenue from crude oil production,” Lokpobiri stated.
He stressed that the government recognised the urgency of cost reduction, highlighting the government’s measures aimed at streamlining operations, particularly upstream activities, to remain competitive in the global market.
The minister said: “The world is moving toward cleaner energy, and Nigeria must be part of that transition. The government has prioritised natural gas as a cleaner alternative while actively exploring renewable energy options to diversify Nigeria’s energy mix.”
He listed part of the bouquet of reforms and incentives to revitalise Nigeria’s oil and gas sector as the Value Added Tax (VAT) modification order 2024 and the tax incentives order for deep offshore oil and gas production.
Lokpobiri told the gathering that the Nigerian government was focused on reducing contracting costs and timelines and has therefore mandated that the procurement cycle be streamlined to six months.
In addition, he highlighted the government’s commitment to the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, which promotes local content.
The minister emphasised that the government’s recent initiative to launch bid rounds for 31 oil and gas blocks will be a cornerstone of Nigeria’s strategic development.
“Each block has been meticulously selected for its potential to boost reserves and stimulate economic growth. In line with international best practices, barriers to entry have been reduced through signature bonuses to attract a wider range of investors, with strict enforcement of Nigeria’s ‘drill or drop’ policy,” he added.
Lokpobiri called for greater commitment from industry players to support Nigeria’s ambitious plan to increase oil production by over 1 million barrels per day within the next 24 months.
“We cannot afford to hold valuable fields in perpetuity. It’s either you put them to work or relinquish them. The era of renewing licenses without development is over,” he reiterated.
News
Police to Charge 113 Foreigners, Nigerians Arrested for Cybercrime
Operatives of the Nigeria Police Force have arrested no fewer than 130 suspects for “high-level” cybercrimes.
Among the suspects are 113 foreign nationals, comprising 87 males and 26 females from China and Malaysia.
A statement on Sunday Muyiwa Adejobi, Force Spokesperson, added that 17 of the suspects are Nigerians.
He said the suspects were arrested at a building at the Next Cash and Carry area in the Jahi area of the Federal Capital Territory.
Adejobi said the suspects were reportedly using computers and other sophisticated devices to facilitate criminal activities.
Adejobi said, “The Nigeria Police Force has arrested 130 suspects comprising 113 foreign nationals (87 males and 26 females), primarily of Chinese and Malaysian origin, and their 17 Nigerian collaborators (4 males and 13 females) for their alleged involvement in high-level cybercrimes, hacking, and activities that threaten national security.
“This strategic operation was conducted through a coordinated raid on a building at the Next Cash and Carry area of Jahi, Abuja, where the suspects were reportedly using computers and other sophisticated devices to facilitate criminal activities.
“The operation which was led by the Assistant Inspector-General of Police for Zone 7 Headquarters, Abuja, AIG Benneth Igweh, on Saturday, 3rd November 2024, comprised officers of the Nigeria Police Force Zone 7 Command Abuja and the National Cyber Crime Centre (NPF-NCCC).”
Adejobi states that the police were analysing the exhibits recovered from the suspects.
He said, “We are investigating the matter and scientifically analysing the exhibits recovered from them.
“The suspects will be charged in court upon the conclusion of our investigations.
“We will update the public on the outcomes of our investigations as and when due.”
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