Business

Nigerian startups making international connections

Published

7 years ago

September 6, 2019

One of the most exciting things to see in 2019 is the fact that there are more and more companies originating from Nigeria that are starting to become more successful But, the most exciting thing to see is that they are not just starting to be successful locally, but are starting to make international connections. International connections are not significant just because they bring attention to the country, but because these are able to access larger pools of investment capital and thus are able to offer their better services to more people and, possibly even internationally. In order to bring the good news to everyone who needs to hear them, we are giving you a list of companies that have managed to garner some international attention and international clientele. The number and variety of companies are all over the place, so we are not going to be going into detail about them. We are just going to talk about how some of the companies are managing to get international attention by providing a list of games at Playamo Australia, getting investment from large international banks, or other interesting stuff.

Nigerian startups making international connections

A Nigerian logistics company

Kobo360 is a Nigerian freight logistics company that is aiming to change how things are transported in, out and around the country. It has a fleet of strong vehicles that transport freight goods all across the country and it has been active for a relatively short time. But this time, it has managed to garner the attention of local businesses as one of the most reliable businesses to deal with if you are looking to transport goods from one point in the country to the other. So, when the company decided to go looking for financial investment, it was easily able to show off its capabilities and portfolio to some of the biggest international investment banks. While there were companies that were not really interested in investing in the African region, there were those who saw value in it. After all, the local economy is one of the growing ones in the world, and it is showing quite a lot of promise. Which is where Goldman Sachs decided to intervene. It is not easy to transport freight goods across Africa. There are many issues that a driver faces on the way. Lack of infrastructure, issues with local bureaucracies, corruption often get in the way of a successful business. But, Kobo360 has somehow managed to avoid having to deal with these problems on a day to day basis successfully. This became enough of an impressive feat for the investment bank that it decided to invest $20 000 000 into the company, thus giving it the ability to grow to a size that would allow it to serve not just the entire country, but the entire region. The company is thus expected to become much more profitable over the next few years and contribute to the local economy in a much more significant way. With more people employed, more trucks deployed and more work to be done, this i\ a great development for Nigeria and the Nigerian economy, as much as it is an incredible success for Kobo360.

Nigerian FinTech

But the logistics companies are not the only ones getting attention on the international stage. Some of the most successful companies from Nigeria and some of the most successful start-up industries within the country have been the FinTech companies that are springing up left and right within the country. These Fintech companies are looking to start offering new kinds of services to Nigerians in order to make their lives and their work easier and cheaper. It is a hard thing for FinTech to take off in a country where a significant portion of the population does not employ electronic devices, but the population that does have these devices is demanding these apps. As a result, more and more Fintech companies are starting to appear within the industry, and it is getting crowded.

But while people do not know what to expect of the industry and don’t think it will be successful in any significant way, the proof of the success of the industry is rearing its head on its own. According to reports, recently the industry within Nigeria managed to raise around $300 000 000 within a year, and grow by 60% without much international help. And as the growth continues, so will the international attention continues to increase. It is an exciting time for the Nigerian Fintech companies that are looking to expand, as international investment banks are starting to look into getting to work with them, in order to produce positive results for the company. It seems like the Fintech industry within Nigeria is only going to be growing, as companies move outside of the borders of the country and expand their operations to other areas of Africa with significantly enough developed infrastructure to handle the internet and electric requirements to support this industry.

Business

Pipeline Explosion In Abua Odua, LGA Chair Calls For Calm

Published

3 days ago

July 3, 2026

The Tide

Fresh explosions have hit oil and gas pipelines in Odau Community, in Abua/Odual Local Government Area of Rivers State, triggering a major security and environmental crisis that has forced residents to abandon their homes.

The first incident occurred along the Kolo Creek – Rumuekpe crude oil pipelines, operated by Renaissance Africa Energy Company Limited.

This was followed by a gas pipeline explosion on the Ogboinbiri – Obirikom Gas Pipeline, operated by Oando Plc, in the same week.

In a statement by the Abua/Odual Council Chairman, Hon. Owolobi Michael Ofori said the blasts, suspected to be the handiwork of militants, have unleashed persistent gas leakage in the area, raising fears of fire outbreaks and toxic exposure as residents of Odau have largely deserted the community due to the dangerous situation.

According to him, some residents of the area have been hospitalised after inhaling the leaking gas, adding that the impact has spread to neighbouring communities, including Obedum, Emirikpoko, and Anyu in Abua/Odual LGA, as well as Oruma and Ibelebiri in Bayelsa State.

Hon. Ofori expressed deep concern over the plight of the affected residents and urged the operating companies to act swiftly.

The Council expressed its deepest sympathy to all affected persons and communities and remained gravely concerned about the safety, health, and welfare of residents whose lives and livelihoods have been disrupted by these incidents.

“We call on Renaissance Africa Energy Company Limited and Oando Plc to immediately deploy all necessary technical and emergency response resources to contain the fires, halt the gas leakage, secure the affected pipeline corridors, and mitigate further environmental and public health risks.” the Council Chairman Said.

The chairman also appealed to the two oil firms to provide immediate humanitarian assistance and relief materials to the displaced residents while work continues to restore normalcy.

The Council Chairman said he is working closely with security agencies and emergency responders to monitor the situation and coordinate necessary interventions.

The Council Boss advised Residents of the Local Government Area to remain calm, cooperate with authorities, and adhere strictly to safety directives.

Ofori further called on the National Emergency Management Agency (NEMA), the National Oil Spill Detection and Response Agency (NOSDRA), the Rivers State Government, and other relevant bodies to intervene urgently to prevent loss of lives and environmental damage.

Hon. Ofori assured that the council remains committed to the protection and welfare of its people and will continue to engage all stakeholders to resolve the crisis.

Enoch Epelle

Business

Fidelity Bank Collaborates YEIDEP To Empower Nigerian Students

Published

3 days ago

July 3, 2026

The Tide

Fidelity Bank Plc has reaffirmed its commitment to youth empowerment, financial inclusion and entrepreneurship through a strategic partnership with the Youth Economic Intervention and De-radicalization Programme (YEIDEP), a Federal Government-backed initiative aimed at equipping young Nigerians with the skills, support and opportunities needed to build sustainable livelihoods.

Under the partnership, the bank will support the enrolment of students and young people into the YEIDEP programme, which is designed to tackle youth unemployment, promote enterprise development and expand economic participation among Nigeria’s growing youth population.

The next phase of the initiative is scheduled to end today at Nnamdi Azikiwe University, Awka, where the enrolment exercise for students and youths across the South-East that started since July 1st would be concluded at the university’s Convocation Arena.

The exercise is expected to reach more than 60,000 regular undergraduate students.

Speaking on the partnership, Fidelity Bank’s Divisional Head, Product Development, Osita Ede, said youth empowerment remains central to the bank’s vision of building a more inclusive and prosperous society.

He noted that Nigeria’s youths represent the country’s greatest asset and stressed that providing them with the right skills, opportunities and financial support is critical to unlocking their potential and driving national development.

According to Ede, the bank continues to provide young Nigerians with tools for success through its digital banking platforms, financial literacy initiatives, youth-focused products and strategic partnerships.

He added that Fidelity Bank recognises that limited access to funding, mentorship and business development support remains a major challenge for many aspiring entrepreneurs, and is committed to creating pathways that will help them overcome these barriers.

The bank said its support for YEIDEP aligns with its longstanding commitment to empowering Micro, Small and Medium Enterprises (MSMEs), which it described as key drivers of economic growth and job creation in Nigeria.

Interested students and youths have been encouraged to open Fidelity Bank accounts and register for the programme through the bank’s dedicated online portal.

Nkpemenyie Mcdominic, Lagos

Business

NPA Launches Multi-Agency Taskforce To Combat Apapa Traffic Gridlock

Published

3 days ago

July 3, 2026

The Tide

The Nigerian Ports Authority (NPA) has launched a multi-agency task force to combat the resurgence of traffic gridlock choking the Lagos Port access roads, in a fresh push to restore seamless cargo evacuation and sustain recent gains in Port efficiency.

The intervention followed a stakeholders’ meeting convened by the Managing Director of NPA, Dr. Abubakar Dantsoho, on June 23rd, 2026, where security agencies, freight forwarders, truck operators and representatives of the Lagos State Government agreed on coordinated measures to eliminate the bottlenecks disrupting cargo movement.

At the meeting, stakeholders identified illegal extortion points, overlapping responsibilities among security agencies and other operational distortions as major factors responsible for the renewed congestion along the port corridor.

Speaking on the outcome of the meeting, the NPA’s General Manager, Corporate and Strategic Communications, Mr. Ikechukwu Onyemakara, said the Authority’s overriding priority is to guarantee the unhindered movement of cargo to and from the nation’s seaports.

According to him, the task force comprises the NPA, the Police, the National Association of Government Approved Freight Forwarders (NAGAFF), the Association of Nigerian Licensed Customs Agents (ANLCA), the Federal Road Safety Corps (FRSC), the Maritime Workers Union of Nigeria (MWUN), the Nigerian Association of Road Transport Owners (NARTO) and the Association of Maritime Truck Owners (AMATO).

“The responsibility of the task force is to monitor truck movement on the Port access roads on a regular basis, identify any disruption capable of causing gridlock and immediately resolve such challenges,” Onyemakara said.

He stressed that members of the task force would not establish checkpoints along the corridor but would maintain strategic presence at designated locations to ensure compliance without obstructing traffic.

To enhance rapid response, Onyemakara disclosed that the task force has created a dedicated WhatsApp platform through which members can instantly report infractions or emerging traffic issues for immediate intervention.

On the long-delayed renewal of the Electronic Truck Call-Up (ETO) system contract, the NPA spokesman said the Authority is reviewing the terms to ensure a more robust contractual framework before awarding a fresh agreement.

He explained that although the previous contract had expired, the ETO platform remains operational under the management of the Truck Transit Parks (TTP) pending completion of the procurement process.

He expressed confidence that the renewal would be concluded soon.

Reaffirming the Authority’s commitment to maintaining free-flowing Port access roads, Onyemakara said efficient logistics remain central to the NPA’s drive to improve Nigeria’s Port competitiveness and preserve its growing international reputation.

“We are more interested in the free flow of logistics into our ports than anyone else because it is in our own interest,” he said

Nkpemenyie Mcdominic, Lagos