4 reasons why Nigerian startups are not funded

1. Traffic does not hold value. No analytics to specify value of each and every website visitor, advertisers are acting blindly.

2. The issue of online scam or 419. reminds me of my post where I said this lies on the back of the netpreneurs, It's time we start seeing b2b startups in Nigeria that solely address the problem of security.

3. Infastructure. see the post "can we build silicon valley in Nigeria?" well, do we have the infastructure.
http://www.sturvs.com/Science_Tech/Startups_Nigeria_-_Can_We_Build_Silicon_Valley_in_Nigeria/

4. Absense of a developed ecommerce system. Most startups have to run on the ad revenue model. The question is, how many companies want to advertise online in Nigeria? Since no one is buying online.