Stakeholders Push Collaboration to Boost SMB Growth in Nigeria’s E-Commerce Sector
Glovo and key stakeholders across Nigeria’s digital economy have called for stronger collaboration to support small and medium-sized businesses (SMBs) and accelerate innovation in the country’s fast-growing e-commerce sector. This formed the central message at the second edition of the Future of Commerce Summit, held in Lagos, where industry leaders gathered to discuss the evolving landscape of trade in Africa.
The summit brought together voices from the public and private sectors, all of whom stressed that Nigeria is at a critical turning point. Speaking on behalf of the Lagos Chamber of Commerce and Industry, its President, Leye Kupoluyi—represented by Vice President Engr. Opeyemi Aminu—highlighted how technology is rapidly transforming the way commerce operates. According to him, the traditional boundaries of buying and selling are fading, replaced by a more connected, data-driven ecosystem where businesses and consumers interact in smarter, faster ways.
Kupoluyi noted that commerce is no longer confined to physical stores or local markets. Instead, it is becoming increasingly platform-based, powered by digital tools, logistics networks, and real-time data. This shift, he explained, is opening up new opportunities for businesses of all sizes, particularly SMBs that are willing to adapt. At the same time, he emphasised that collaboration between stakeholders—government agencies, private companies, and entrepreneurs—will be essential to ensure that growth in the sector is inclusive and sustainable.
Delivering the keynote address, Reni Onafeko, General Manager of Glovo Nigeria, reinforced this idea by focusing on the company’s role in enabling business growth. She explained that platforms like Glovo are not just delivery services but important tools that help small businesses transition into the digital economy. By connecting vendors to a wider customer base and providing access to logistics and payment systems, such platforms create new revenue streams and help entrepreneurs scale their operations.
Onafeko also pointed out that the theme of the summit, “Pioneering the Next Era of Commerce in Africa,” reflects a broader shift taking place across the continent. As more consumers embrace online shopping and digital services, businesses must rethink their strategies to stay relevant. For many SMBs, this means adopting technology, improving efficiency, and finding innovative ways to meet customer expectations in an increasingly competitive market.
Adding to the discussion, the Director General of the Small and Medium Enterprises Development Agency of Nigeria, Charles Odii—represented by Olusola Oluwole-Adeilupo—spoke about the rise of the on-demand economy. He described it as a fundamental shift rather than a temporary trend, noting that digital platforms, logistics systems, and electronic payment solutions are now at the core of modern trade.
According to him, what was once seen as a disruptive innovation has become the standard framework through which commerce operates. This new reality presents both opportunities and challenges. While businesses can now reach customers more easily than ever before, they must also adapt quickly to changing technologies and consumer behaviors. For SMBs in particular, access to the right tools, knowledge, and support systems will be crucial.
Overall, the summit underscored a shared understanding among stakeholders: the future of commerce in Nigeria will be shaped by collaboration, innovation, and inclusivity. By working together, industry players can create an environment where small businesses are not left behind but are instead empowered to thrive in a digital-first economy.
As Nigeria continues to embrace this transformation, events like the Future of Commerce Summit serve as important platforms for dialogue, idea-sharing, and partnership-building. They highlight not only how far the country’s e-commerce ecosystem has come but also the vast potential that still lies ahead. More updates as we know more!
