Ten Recent Innovations In The Nigerian Tech Ecosystem And Their Impact

A summary of the Nigerian tech ecosystem, looking at ten recent innovations, their founders and their impacts.

Overview

The Nigeria tech ecosystem has been rising in the last ten years. Tech startups are ravaging the economic market, creating a birthing space for other emerging tech innovations; while some are entirely new solutions, others are integrating or modifying existing inventions. In general, every tech solution aims to proffer solutions to existing economic or social problems.

According to a post by Daily Trust, the Nigerian tech market has grown to about $15billion market worth, with many venture capitalists investing millions in the industry. Nigeria is currently the biggest hub for technological advancement in Africa.

Below is a list of some high performing tech innovations in recent Nigeria;

1) Flutterwave

Flutterwave is a payment solution company in Nigeria. The platform conveniently helps SMEs and large-scale businesses process payments on their eCommerce website. Over time, the tech company has gathered a robust pool of big brands to use their innovation, such as MTN, Microsoft, and Uber and has since transacted over $20 million.

Founder: Iyinoluwa Aboyeji, Olugbenga Agboola  || Founding Year: 2016  ||  Category: FinTech  || Website: flutterwave.com

2) Paystack

Paystack pride itself on Modern online and offline payments for Africa. The platform is another top payment application that integrates API to assist businesses in Nigeria and Africa with getting paid by anyone anywhere. The brand was recently purchased by STRIPE, an Irish-American company also providing online payment processing for internet businesses.

Founder: Ezra Olubi, Shola Akinlade  ||  Founding Year: 2015  ||  Category: FinTech  || Website:  paystack.com

3) ng

Hotels.ng is an online travel agency that focuses on hotel reservations in Nigeria. This tech brand has conveniently solved the problem of searching for where to stay when you are out of town; the platform provides recommendations and ratings of different hotels in your area of search. Its impact on users includes; reducing the uncertainty of where to stay when visiting a new place and the extra cost of searching for a hotel.

Founder: Mark Essien  || Founding Year: 2012  ||  Category: Tourism and Hospitality tech  || Website: hotels.ng

4) ccHub

Co-Creation Hub is a tech innovation centre where tech startup ideas are incubated and accelerated for social capital application and economic prosperity. The innovation is a laudable achievement for the Nigerian tech space. The hub in recent times has been a breeding ground for most emerging tech startups in Nigeria, making available research and development facilities for ideas creation. Some notable tech startups incubated in ccHub include; Gradely, BudgIT, Agrorite and more

Founder: Bosun Tijani  || Founding Year: 2012  ||  Category: Education tech  || Website: cchubnigeria.com

5) BudgIT

To a typical Nigerian, we never see the data of how government spendings and allocations go and even when they put it in print, it’s so voluminous and congested that you could hardly understand it. As some may say, this is a deliberate act to keep you away from the ‘matter’. BudgIT is a budget and public finance data tracker that analyses Nigerian government allocations and spending for each state in simple infographics. Its impact and importance are not debatable as an average Nigerian can now have access to and understand government financial analysis.

 Founder: Seun Onigbinde  || Founding Year: 2011  ||  Category: Tech in Governance  || Website: yourbudgit.com

6) Andela

Andela is an online marketplace for technologists. The platform assists tech and other business brands find suitable tech experts to work in their teams either as freelance workers or in-house staff.

Founder: Iyin Aboyeji   || Founding Year: 2011  ||  Category: Jobs  || Website: andela.com

7) Farmcrowdy

Farmcrowdy is a digital agricultural platform building sustainable food solutions in Africa through technology. This platform has supported farmers across Nigeria by aggregating farm produce, providing access to markets and supporting selected farmers with funds. Farmcrowdy prides itself as the first agritech brand in Nigeria with 427,331Customers, +2,588 MT Commodities aggregated and traded.

Founder: Onyeka Akumah, Ifeanyi Anazodo, Tope Omotola, Akindele Philips  || Founding Year: 2016  ||  Category: Agriculture  || Website: farmcrowdy.com

8) Ulesson

Ulesson is a digital learning platform that leverages best-in-class teachers, media, and technology to create high-quality, affordable and accessible education for students. The Education digital platform helps students in primary, junior, and secondary academic development. It is also a platform that assists students preparing for GCE, WAEC, and JAMB.

Founder: Sim Shagaya  || Founding Year: 2019  ||  Category: Education  || Website: ulesson.com

9) Teraworks

Teraworks is a digital freelance marketplace that connects businesses or individuals with creative talents according to their work needs. The platform has created a beneficial diversion to work orientation in Nigeria, simulating platforms such as Fivver and Upwork in engaging talents for freelance roles.

Founder: Femi Taiwo, Titi Ogunsina || Founding Year: 2017  ||  Category: Jobs  || Website: terawork.com

10) PiggyVest

PiggyVest is an automated saving and investment platform that helps Nigerians put aside small amounts of money at suitable intervals. They target people that have smartphones and already have bank accounts. The ideal user of their platform would be young adults, mid-level professionals, not earning too much, not too little.

Founder: Odunayo Eweniyi, Joshua Chibueze || Founding Year: 2016  ||  Category: FinTech  || Website: piggyvest.com/

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