For most digital technology sectors, the best Growth Model begins by modelling that you have about 30 million potential customers in Nigeria. Forget the 200 million population; most of our citizens do not earn anything or they earn so little to register practically in any decent digital growth strategy. If you focus on how to win from these 30 million people, your model becomes more realistic.
Uber has close to 50 million users in U.S. (pop of excess of 320 million). It will take more efforts for Uber to hit 2 million in Nigeria in a population of 200 million because technically Uber’s total effective addressable market in Nigeria is just about 30 million people. (Uber has about 267,000 monthly riders in Nigeria: “Transportation network company, Uber Nigeria, currently has 9,000 active driver-partners and no fewer than 267,000 monthly riders, an official has said”.).
I refer you back to this piece to understand how to build effective digital growth model in Nigeria that does not disappoint partners. Simply, you have just about 30 million people in Nigeria to sell to in that digital business!
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