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Daily Archives: Aug 9, 2018

Zakariya'u mulls structural reform of financial services sector

Past President, Chartered Insurance Institute of Nigeria(CIIN), Alh. Bala Zakariya’u, has called for the structural reform of the financial services sector and the national economy so as to engender improved investor confidence and attract more foreign direct investments.

Nkpor Community decries dumping of baby in refuse bin

Residents of Nkpor in Idemili North local government area ,a sub of Onitsha in Anambra State Wednesday morning woke to the shocking discovery of a new born baby dumped in a refuse bin at the popular Nkpor Junction in the area.A woman sympathetic to the sight who tried to retrieve the baby boy from the bin found that he was already dead.

Boom for e-commerce as Jumia, Konga plan $1.5b, $3.2b IPOs


Nigeria’s e-Commerce space has been on the rise as one of the fastest in Africa, consequent upon the flexibility and technology innovation with which Jumia Nigeria is driving the online trade in the country.

Jumia vendors gave this attestation during Jumia’s sixth anniversary celebration in Lagos, applauding the company for the opportunities it gave them to grow their business, the Nigerian economy and to impact on the lifestyles of online consumers.

According to them Jumia has contributed immensely to the rising interest of Nigerians in e-Commerce business and rapid growth of e-Commerce in Africa.

Speaking on the business strategic growth, Mr. Chinonso Olejeme, a vendor who trades on household electronics, said prior to joining Jumia, he makes sales of about N300,000 monthly, but that since he joined Jumia three years ago, sales have increased and he makes as much as N2 million profit in a month.

According to him, the sales can grow to as much as between N26 million and N32 million during promos like Jumia Black Friday Promo sales.”Prior to joining Jumia, I had offline stores in Ejigbo and Alaba, selling household electronics, but Jumia has boosted my sale to over 300 per cent in the last three years.

“With Jumia Nigeria, the issue of struggling to make good sales is no longer a challenge for me but the challenge for me now has been the ability to meet up with sales demands that have increased since I joined Jumia.

He noted that before joining Jumia three years ago, ‘I also had a small online shop called but the sales was very small compared to what we presently sell on the Jumia platform. I reluctantly joined Jumia in 2015, but today the narrative has changed as sales volume has increased tremendously,” Olejeme said.

On the level of support from Jumia, he said he had been getting support from Jumia through Jumia loans, which he said helped him to buy more goods to meet up with the sales and supply demand.

Another Jumia Vendor who is the Managing Director, 21 Attire, a fashion design company, Mr. Trust Osunde, said he had been in the business of producing female attires both for corporate and casual outfit, before joining the Jumia online platform, where his sales volume and profit margins have increased greatly.

Jumia e-Commerce platform has the ability to scale up businesses Jumia and the platform has given me the opportunity to trust in them the more. “I see online shopping dominating the trade in Nigeria. The e-Commerce business is on the rise and I see it as a business that will continue to grow,” Osunde said.

He also called on government to help either in terms of providing reasonable loans to operators or partnering with organisations like Jumia so that they can increase their stakes, engage more entrepreneurs and impact even more meaningfully the businesses on their stable.

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