Thriving in Nigeria Part Two: Understanding the Nigerian Consumer Market.

230 million+ people

45% internet penetration

If you’ve ever seen a pitch deck, or been in a room where a founder is pitching to potential investors, these numbers should be fairly familiar. They are usually ‘deployed’ to justify either a) why the founder needs to raise as much money, or b) why the investor should be confident in their potential return.

But there are other numbers that are not as emphasized — at least not in the same rooms -, but in this essay I’ll be sharing how these ‘numbers’ interact with each other in an attempt to holistically define the Nigerian Consumer Market.