Chief Osita Chidoka has established the difference between “Naija” and Nigeria, stating that Naija is powered by the youth.
In his words, while reacting to the News that “Alerzo raises $10.5M Series A to bring Nigeria’s informal retail sector online ” the former Minister of Avaiation and former Anambra State guber candidate stated as follows: “Naija economy is working as Nigeria economy is failing. Naija does not need the Nigerian government. It is not waiting for restructuring; it is not waiting for devolution. It is leveraging on a youthful population, a solid and significant market and an entrepreneurial mindset.
“While we are fighting over open grazing, foreigners are betting on Naija with their wallets.
Imagine what will happen if we have a government, market-friendly, youth-friendly and open to the world….imagine. Let’s #unlocknaija Time is now”
He continued, “Today’s news is from Alerzo, a little-known B2B e-commerce retail startup based in Ibadan, Nigeria. The company is announcing a $10.5 million Series A round led by London-based Nosara Capital. FJ Labs and several family offices from the U.S., Europe and Asia, including Michael Novogratz’s, participated in the round.
“In total, Alerzo has raised more than $20 million since its launch. Early investors include the Baobab Network, an Africa-focused accelerator based in London, and Signal Hill, a Singapore-based fund manager that participated in its $5.5 million seed round last year. The company also said it closed a $2.5 million working capital facility to serve its customers.
Adewale Opaleye founded Alerzo in 2018 as a last-mile distribution platform that helps retailers stock inventory directly from manufacturers. Its business, officially launched in 2019, is centered on helping street-side vendors and shops in Nigeria’s south-western cities access household supplies quicker and efficiently.”