He had tried to launch a similar startup in Lagos in 2015 but it failed after less than a year of operation. He said multiple challenges, including poor electricity to keep the groceries fresh at all times, logistical problems, and high running expenses swept the business off its feet.
After meeting all the necessary requirements to relocate to Canada, Onifade finally left Nigeria two years ago and settled down in Ottawa, a city reportedly known for its vibrant lifestyle and cultural diversity. By the end of the fifth month, Onifade said the startup had run out of cash due to unforeseen expenses. Besides that, irregular electricity once caused some groceries to get spoilt, which led to a huge loss.
“If things had worked in Nigeria, I would have still been running the startup there but the challenges were too numerous to mention. I wish the government could look into some of the issues chasing some tech entrepreneurs out of the country.” He said, “The rent kept increasing every year. The landlord felt we were making millions of naira every month so he kept on hiking the rent at the end of every year. It was unbearable.
Also, in 2015 when Felix Emeka founded a tech startup that centred around supplying malls and restaurants with farm produce, he soon realised he needed to always have some extra cash for policemen on the road amid other challenges. Joseph Maduka, a programmer who relocated to Johannesburg, South Africa, about four years ago, said lack of funding made him relocate from Nigeria.
“Even when I told them I was a software developer, they would say was a ‘Yahoo boy’ and demand money before I was released. The least I ever paid was N10,000 to bail myself. Olakunle recollected the arrest of a software developer sometime in September 2019 in Lagos – a situation which generated an outcry from across the country.
The founder of Co-creation Hub, Bosun Tijani, said those responsible for extorting and harassing techies must take responsibility for their actions. “Over the years, many Andelans have been harassed and arrested… And everyone knows a victim. At Andela, we walk further to take the right path, and the right path never includes state-sanctioned violence against peaceful protesters.
Also, according to its African Tech Startups Funding Report 2019, Disrupt Africa said Kenya and Nigeria were the premier investment destinations on the continent in 2019, attracting $149 million and $122 million in funding, respectively. For instance, Nigerian fintech company Flutterwave, whose clients range from Uber to Cardi B, is headquartered in San Francisco, with operations in Lagos. The company maintains a developer team across both countries for its B2B payments platform that helps American companies operating in Africa get paid.
According to a recent survey by One Campaign and Centre for Global Development, there are two major problems facing the Nigerian tech ecosystem, namely inadequate electricity supply and lack of access to funding. He said, “The tech industry is one of the few industries largely driven by talent. Tech companies all over the world are actively looking for skilled workers to recruit. And by the way, this is not a uniquely Nigerian problem, opportunities attract anyone irrespective of their country of residence.
On what could be done to attract tech talents, Popoola said it might be difficult, considering the many challenges in the country. “We should double-down on modernising the labour laws to favour employees, encourage local firms that train young people, and our educational institutions could partner with the private sector to work on modern academic curriculum for our schools.
Yet, they are giving Chad power supply 🙄😒😒😏😏.., omashe o
Business can't survive in Nigeria, it's all gradually goes down to nothing
The cost of electricity these days is crippling homes, not to talk of businesses. The risks you have to navigate to make money in Nigeria is enormous. How many times have our mothers started a trade,closed the shop, start again. This are meant to our SMEs the bone of the economy
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Facing same probs, but by God's grace we will be able to make it.
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Story of my life. Erratic power supply is such a headache I worry about everyday.
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