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Thursday, October 6, 2022
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“NAIJA” IS WORKING AS NIGERIA IS FAILING- OSITA CHIDOKA

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.”

 

 

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