Forex strategies: How I Shorted the Naira

[Disclaimer: This post is just a case study. I am not writing it to claim that I got rich from some currency short or to encourage any aspiring short sellers on how to make trades or deals that will affect the value of the currency of our beloved country].

It was early 2015, around January, February to be precise. The value of the Naira had just taken a beating against the greenback and our Elections were nearing. Few anticipated that oil prices would keep falling all through the year.

In 2007 and 08 I thought the oil price of around $100 per barrel was just a temporary high but it stayed up there longer than we most anticipated. Then the world became used to high oil prices. It was a lost opportunity to a country like Nigeria I believe as the government went an unnecessary spending spree while the foundations of the economy were still shaky. Fast forward to 2015, there I was, a self-proclaimed student of world economic trends with a chance to play real life "short selling" with the little that I had or didn’t have.

I first read about short selling in 2008, I was just beginning to take an interest in the stock market and I tried to buy around 300,000 Naira worth of stocks. I got just a few bucks out of that as the stock market in Nigeria collapsed the following year. I wondered if someone read a little more and analyzed a little more of the capital market situation in the country back then and found a way to short most of the overvalued stocks (most stock prices were supported with credit from sometimes the banks that are issuing the stocks). I never found a way to short the stock market, so I gave up.

Early 2015 I had a trip planned. I was terribly worried about the fall of the Naira and I was scared the Naira could fall even further. Then it hit me, this is a situation I could short and make a profit. But before I attempted a short I realized with nervousness of the coming elections, the Naira could fall more and if oil prices keep falling, it could fall even further. So I used the excuse of the trip I was going on to collect a Naira loan which I then changed into Dollars at a rate of around N185 to the dollar and I kept the money.

After I came back from my trip and it was time to pay back my loan, I sold the Dollars at the rate of 220 each. I made a profit of N35 on every dollar I bought at N185. I paid back the loan and kept the N35 profit on every N185 I borrowed.

At today’s rate, a day after the U.S Fed raised interest rates, I would have doubled my profits if only I kept the loan long enough. I would have kept it till next year as I anticipate an oil price fall to follow the U.S. Fed rate hike.

 

How Could Femi Otedola Pay Back $1.2 Billion When He's Not Donald Trump.

Seriously, who gets out of a negative net worth of a billion dollars, how long do you need to pay that back? How big of a fuel subsidy scam do you need to pull? I know Donald Trump did it, but who else has his leverage?

Forbes valued Femi Otedola's net worth at around $1.2 billion, so since he owes the same amount, technically he is a broke guy with many mansions, and a fleet of sport cars and yachts. Some leverage huh?

Right now I know what you are thinking, "since Femi Otedola is worth as much as he owes and technically that's $0, technically you are in the same net worth?" I know that would make you feel good about yourself, anyways you are wrong! Sorry, keep following, let me show (teach) you how the trick works. Also his $1.2B is from Forbes listing in 2009 which is a while back.

Leverage, connects and building a brand is what makes you wealthy, not the crap some hack wrote on Nairaland the other day here http://www.nairaland.com/1054816/5-proven-tips-multi-millionaire-nigeria/5#12288333 and like 65 of you guys clicked the "like" button on it.

How did Donald Trump get out of his debt? Simple, he leveraged the brand he has built over the years. How did he build the brand? Before you start making up stories about God father-ism and American greed, the environment in co-operate America is different from what we call "business" in Nigeria. We don't really care about branding or building value into our name or business name, all we care about is cashing out anytime we want. But this is exactly what got Donald Trump out of more than $10 billion in debt and got out of the red even bigger than ever. His passion which helps make him a business symbol and why people feel comfortable investing in him and pay tens of millions of dollars for apartments at Trump Towers.

So can Mr. Femi also get out of debt without getting "FIRED?!" I really don't think he has enough leverage to do that but my bet is he will continue to work with people in GOVERNMENT towards forgetting (forgiving) that debt that he no longer owes the banks but the GOVERNMENT's bail-out body ;) AMCON which swallowed the debts from the banks.

We Welcome New Competition, Seriously!

The time is exactly 9:15 in the morning. I didn't wake up early just to write this post, the truth is, I've been awake all through the night. I'm really finding it hard to hibernate the computer and go to sleep these days.

You can put it how you like, say, I'm losing sleep over competition.. Well, I'm not ashamed. Its a good thing, it has changed me and helped me see the bigger picture better than i did earlier.

The emergence of huge competition only last year like Nollywood Love has given us new determination. It has shown us a bigger market exists more than we anticipated or planned for.

Here is why you should welcome competition

1. Market validation
You can use either your competitors traffic or revenues to boost your own confidence and work harder or you can show the figures to investors to give them an idea of the market.

2. Show signs of a boom
If you see startups similar to yours springing up all over, like in the case of Groupon, then the market is experiencing a boom. Do what you can to grow as fast as possible.

The main issue is, AfricaMars Media is what I'd like to call "first generation of African video sites", together with a few early competitors.. We were ahead of our time and the was not much traction to be gained. We were ahead of our time.

With the new African TV services, the time is now and what matters is who's still here in the next 5 to even 10 years!

Google Discontinues Nexus One, Android May Now Lack Hardware Rythm!

This is not a blog about gadgets, phones and the likes. But it is a startup blog and today I am focusing my post on user experience around hand-held gadgets! Specifically Smartphones.

User experience or user interface design is a must learn for any startup in a consumer market.

I am talking about android, nexus one and the user experience around the combination here. Many users reported the nexus one (users that have other smartphones, like Iphone or Blackberry) as the best smartphone they've ever used, and Google stopped the nexus phone. Is android going to end up an orphan in the mobile OS market? Not at all. Android has got Motorolla, HTC and even a tablet called Inye soon to be unveiled in Abuja Nigeria.

Google's main problem is being massively out-sold by Apple's Iphone. The Iphone 4 sales where heading for the million mark while Google had only sold a little above a hundred thousand phones. But is the Nexus one really a better phone than the Iphone? Well. a lot of users that have used both phones say so!

The Nexus one gave android the hardware match it needed. If you doubt this, here is an example for the Blackberry user who use their phone to tweet. Before the Blackberry had its own Twitter app, there was UberTwitter. And when RIM launched its official twitter app, those that switched to the app, would certainly witness a change in performance and experience when the use their blackberry phones to tweet.

For some reasons, I wont say on this blog if the change the Blackberry users witnessed is positive or negative. Nonetheless, it's a good example of software/app and hardware rythm or fit! Same goes with OS and the hand-held device.

The Nexus one is the phone that users had the best experience running android on. Now that its gone, where does the android stand against othe mobile OS!

The facts show surprisingly, android is even gaining ground by beating all the rest smartphone operating systems. Including RIM and Iphone OS who make their own hardware for their OS exclusively!

Android is number one selling mobile OS in the US for the second quater of this year reports the NPD Group. I still believe, Android would have done better with the Nexus, which I believe brings out the best of the OS. I guess its still all good for Google's mobile OS.

Startup Lessons: 3 Ways Nairaland Got So Big!

Nairaland has been around for a long time.. So have so many other early Nigerian websites, but Nairaland has outlived them to become successful.

Here are 3 (THREE) reasons I think Nairaland lived and grew successful over the years.

1. FIRST MOVER ADVANTAGE

Nairaland started around 2001... A year or even 2 before I got my first web presence. Nairaland is one of the earliest web properties in Nigeria.

There are early Nigerian sites that haven't changed a bit since they first started and they have successfully made themselves forgotten.. look at Motherland Nigeria. I am not saying MotherlandNigeria.com is a failure. As a matter of fact, it was a pioneering and great site back in the day. But I don't think it has changed in it's 11 years of existence. I'm just saying....

I'm saying, Nairaland utilized it's early advantage and grew very large over time (since 2001). This huge over time growth means lots of posts on the forum, many threads, many topics, many users (readers and posters) and many pages of the forum indexed in many search engines overtime for a wide variety of search keywords/keyphrases and ranked high in search results due to long articles (threads), freshness of content and external links.

As a result of above, Nairaland gets a lot of traffic from search engines alone and new user are brought to the site, many end up registering to participate in the discussion..

It all goes back to the first mover advantage... now Half a million registered users.

2. VIRAL & WORD OR MOUTH.

People talk about Nairaland a lot, in real life, they talk about stories they have read on Nairaland and discussions or polls they have participated in to their friends and so on, thereby spreading news of Nairaland through word of mouth...

Viral, this happens when people forward or share links to Nairaland threads/pages on other sites, through email, on facebook or as tweets.. This causes a wave of commenting, sharing, resharing and retweeting. The story on Nairaland and the user participation make it go viraland grow bigger with fresh users discovering the site all the time.

3. USER ENGAGEMENT

The gists, the gossip and discussions make Nairaland engaging. A poll I once came across on Nairaland comparing the site and Facebook in user engagement, Nairaland beat Facebook hands down in Nairalanders perspective.


So there you have it... The 3 (THREE) secrets that made Nairaland once the most trafficked Nigerian website. You can still use the same secrets right now and build a 500000 user or even million user online empire in Nigeria.

Study these 3 points well and build them into your web service or application...

Venture Capital Funds for Nigerian Startups

I have written earlier on this blog about Venture Capital funding in Nigeria here - 4 reason why Nigerian startups aren't funded. As the title indicates, it wasn't a nice article to write because it spots failures of Nigerian Entrepreneurs, Investors and the country's infrastructure in general.

The truth is, there are some Venture Capital firms in Nigeria, though they hardly focus on Internet or technology startups. They are mostly into telecom, oil industry and services. I still think they are worth giving a short if you are confident with what you are building and the market size is HUGE! Yeah, you need a huge market for the kind of returns these VCs are looking for.

So if you are focusing your startup on Nigeria alone, then I am not sure if you should approach these Venture Capitalist because they make investments of around $10 million which is too large for a small market focus.

Anyway... Here is a list of some some Venture Capital firms focussed on Nigeria.

1. Travant Capital

2. Adlevo Capital

3. Menlo Ventures

4. Providence Equity Partners LLC

5. African Capital Allowance

So goodluck on pitching.

Most Importantly Find Angel Investors first. Rich people you know and try to explain your idea or project and see if you can make them understand.

Nigerian Brand Websites Need to be on the Cutting Edge!

This is a real quick post. I'm even typing it while sitting in a car on the road out from Abuja. I was just going through "the web designer mag" a UK web design publication. You can check out the mag at http://www.webdesignermag.co.uk. And I realised how much Nigerian brands only care about having a web presence and they don't bother on being on the cutting edge of the web.

So the first question I think we should answer here is; "do Nigerian websites (brand and product sites) really need to be on the cutting edge?", "Is it worth it for them?" I would give a big YES as answer to both questions. Here are my reasons.

11 million Nigerians online, so as a brand in Nigeria, the web is a marketing and even soon payment channel you dare not neglect.

"So would an ordinary web presence do?" Nope sorry it won't do my firend!

As a company, brand or product, apart from web presence (making people able to find you online even if its only a single HTML page), there are so many messages you can use your website to convey to the consumer. One of them is having the consumer understand you or your product more. You can use web videos for this. Another thing is Interactivity, or being able to listen to your users and give them feedback and being able to improve your product and brand based on info you gather from consumer input.

The newest Mountain Dew drink was all made by users on the web. Mountain Dew makers opened up and listened to consumers on what they would love the drink to taste like. I believe soon, majority (if not all) products would be designed and built with direct consumer involvement in the direction and decision on how the product will be.

So as a brand, you have to have an interactive site that lets your consumers say what they feel about your product and also have them collaborate on some disscussions that you would fall back to when making product decisions. The easiest way to do this is by integrating already social platforms like Facebook connect or Twitter's @anywhere or Twitter connect.

In other news.....
Coincidentally, I just made a quick stop at Mr Biggs, UAC foods (I am not sure what their name is these days). We are at kaduna bypass, It's around 1:30 pm and I haven't eaten any breakfast. I walked into the Mr Biggs and I just couldn't stop my mouth from watering. The Eureka moment came when I thought, how could Mr Biggs use the web to give a customer (a website visitor) a similar experience to what I am having right now? Of course it's not easy for them to make every website visitor's mouth water like mine, but they can still use the web to make you want their product by designing their websiteon the cutting edge with the latest of web technology that would be able to allow for such experience. I am sure a great flash script with some sense of design would get the job done.

I haven't visited Mr Biggs' website before, neither have I searched for it, but I will try and check them out as soon as I have a connection (that is if they do have a website).

So, I'm just saying!

Nigerian Brands can use cutting edge technology in web design to get more people (11 million users online) interested in their products, give their product fans a great experience and a place to hang out online and ultimately make their product better by involving passionate customers/users of their product.

That's not all Nigerian Brands can use the web for. I promised this post to be short, but I promise I will find time to do a detailed post about ways Nigerian brands can use the web.

P.S just used my Effd Up Internet connection to check mrbiggsonlin.com. The site is pretty cool I must say, but can still do better. But UAC foods main site is not as impressive to me.

P.P.S. Thanks http://nigerianbrands.blogspot.com for the image. Had to rip it off your site folks because its the best fit I can find for the post. Thanks guys.

Nairaland Reaches A Milestone: Half A Million Users

Nairaland has been Nigeria's most visited website for a long time (though it has been losing ground recently to job search sites and news sites like jobberman.com and 234next.com plus some newspaper sites).

Recently, Nairaland hit more than 500,000 registered users. This is a huge milestone considering Nairaland allows people to view it's content without registering. If the content was restricted to registered users only, then I believe they userbase will grow bigger and almost double.

This is good news for Nigerian startups, it shows the userbase is there, you only need to smartly find a way to capture it. You can learn from Nairaland's strategies which we would be looking at on this blog. Make sure you subscribe to get the next post on how you can get 500,000 users for your Nigerian site.

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.

No reviews so far, only tips.

I wanted to build this blog around reviewing Nigerian Internet startups. There are many of them, this means I have so much to write about.

After reviewing Nairaland.com, I made a review of some online payment sites for nigeria and since then I haven't written about any startup reviews on this blog. Rather I have been blogging tips on how to create a startup.

I have a lot of tips that I feel happy sharing them with everyone. There will be more tips coming. So fellow Nigerian cybreprenuers and everyone, make sure you bookmark this blog. The best is yet to come.

Guide on Building A Successful Online Business

My first Internet business idea was to share african music and other entertainment with Africans around the world. I thought all I had to do was learn web design and I would build a successful web business. I never thought it would take years of research and testing.


Forget all the hype about new tools, online secrets and so on. I believe all you need to build a successful business online is some sort of understanding. By this, I mean understanding the online market, what works and what doesn’t, combined with hard work and perseverance, you will automatically guarantee your success online. It's simple!
So how do you understand the market and know what works and what doesn’t work? And save all the time you would have wasted following one new marketing secret after the other.

There are two ways you can learn this, the first you go through almost every online lesson through trial and error by yourself, or the second, you learn from someone that has been in and out of the struggle so you save yourself a great deal of time. Please dont get me wrong here. I am not trying to sell you something, nor am I trying to make myself your mentor, I also dont mean you should start following every online guru. That is also another formula for failure.
What I am trying to do is have you relax for a bit, and then have you analyse a few successes online, not the success stories you hear, but the actual story behind the success story. Look at how someone that was once like you achieved success, and I am sure behind that you will see a staright to the point approach combined with persistence.

My time, I chose the first option (trial and error), not because I thought it was the better option, but because it was the only choice I had.

After a lot of hard work, I managed to put up a site on a free server, and that was when I began to learn some Internet marketing lessons.

I didn’t have any idea on how to get people to my site, I was completely new to the Internet and I already had a website. So I found a start page exchange program and I joined it hoping I would be able to get a lot of people to my site, make some sales and in the end realize my new found online dream.

It was never as easy as I thought. Web design became more complicated than I ever expected and I didn't have enough money to hire someone to do it. Getting website visitors became a very hard and time-consuming and making a single sale seemed impossible. Only one thing didn’t disappoint me, myself. I didn’t give up.

I kept trying, learning and getting better. Whenever I fail, I make a list of reasons why I failed and made sure I avoided them the next time I try something out again.

After the failure of my first attempt, the main reason that came at the top of my “reasons why I failed list” was the fact that my site was hosted on a free server. Such sites look very unprofessional, and distract the visitor with too many ads. Who would trust a web business that cannot invest a few dollars for hosting their site?

When surfers want to buy something online, they tend to go to an established online company, so if your site is hosted on a free server like www.yoursite.freehost.com, people wont buy from you. They get annoyed or carried away by too much ads on the site, unless if you are using a free non-ad supported platform like blogspot or wordpress.

So one of the first corrections I made was to invest about $20 for a web hosting account and a domain name, so that I would have my own address for visitors to remember and come back anytime and I would be able to post only what I want on the site, which gives a more established image of the web site and a focussed environment so that my prospects can focus on what I have to say and don’t get distracted by flashing banner ads.

I was still not making sales even though I now have my own hosting account and a domain name for my online business. I knew I had to make another list of possible causes. I needed to ask myself what I thought was going wrong and how to solve it.

I was not getting much traffic to the site, just around 300 visitors and the big problem is the source of my site visitors. I had not been indexed by any search engine, so I was using a startpage exchange program for my traffic which were popular with newbies and marketers then (2002). I soon realized that was part of my problem. I was not targeting any market, I was driving traffic to my site without asking myself if they want my product or not.

My site was a niche web site, but I was not targeting that niche market. The people that actually went to my site were participants of the traffic exchange program I was using. They were all website owners or affiliates, they are not the perfect customers for my site, a music site. An internet marketing and website promotion site would do better in that program because most of the participants were interested in Web business promotion and marketing or just making money online.

When I realized that, I knew I had to change my strategy and target only those that I think would be more interested. So I turned to the search engines to drive more targeted traffic to my site.

After 2 months I got listed in Yahoo and immediately saw an increase of up to 200, then 400 site visitors a month, and a month later I got listed in Google and many other search engines like Alta vista, Hotbot, Askjeeves, Alltheweb, Overture and many more.

My traffic increased steadily. And then I got listed in the ODP (dmoz.com). I started getting hundreds of sign ups and everything got so big that I couldn’t even handle it. And that was just the beginning.
I am planning on writing my complete story so anyone interested would learn a lot from what I have been through. I welcome all comments, also if you have a story of your own you want to share, drop us a comment and we will publish your story as a complete post.

Nigerian economic crisis? who should we blame?

The nigerian economy in crisis.

The SEC chief blames the banks for the current economic downturn and mainly for the stock market plunge. He blamed the ways the banks gave out loans and their way of raising money.

Lending is a vital part of every capitalist economy, but sometimes not paying back the loans can bring out the cons of a capitalistic system or a free market.

In Nigeria, 388 billion naira in such loans could not be recovered, why? Because mainly the loans where used to buy shares in the then thriving stock market and the colaterals used to borrow such loans where also stocks. In an event of any bear market, consumer confidence will plunge and a big sell out will make the market fall further thereby making the borrowed money depreciate with the stock prices and as the collateral also depreciates, this causes more kaos and panic. Even if the borrower sells the stocks, plus the stocks, he cannot pay back the loans and the banks are left with collateral in stocks that are almost worthless. In this kind of scenario, the borrower or investor loses everything and the bank too loses the money it lent out.

This is very similar to what happened in the US, only for what we have in Nigeria may be less stable and a bit more risky. there also, the crisis was ignited when people took mortgage, they couldnt pay back the money they borrowed for their homes, while the homes depreciated in value and they were forced to go into foreclosure. The lost their homes and the banks got stuck with real estate far less in value than the money the lent out to the home owner. The crisis hit the banks real hard that Government had to intervene and many people lost their jobs, many more their homes.

What we are seeing here in Nigeria could be worse than what there is in the US. why? Because the stock market is more volatile than the real estate or housing market, i.e a housing crisis could be a bit more stable than a stock market crash.

As a solution, we can see how the Government in America reacts to its crisis. If successful, we can borrow a few startegies and save the economy.

Also government can buy and hold a few stocks to reduce the amount of selling and dealing that causes the stock to plunge back as soon as they start gaining some ground and people start selling off again. the sec can also intervene and try and enforce a minimum holding period for some stocks so as to eliminate some trading done by investors to profit from turmoil like this.

The executives responsible for this shouldnt go unpurnished if the is proof of their wrong doing or carelessness.

At first, the Government officials though that Nigeria was immune to the global economic crisis. I dont blame them, though I dont know why the thought so, but I also though we were immune to the crisis citing our growing revenues from crude oil sales. I thought we were heading into a boom like in india and china only that ours is not fuelled by manufacturing or information technology but by crude oil.

I did not expect the crude oil prices to fall back quickly and now we are stuck in a correction following the overvaluing and manipulation of share prices in the stock market.

Anyone knows where we are heading?

Nigerian online payment solutions, which one to use?

As a growing online economy, Nigeria's ecommerce is still in it's infancy, and the scammers are not helping things.

There is still no universal online payment system and this is much needed for Internet startups and online retailers to make money and grow. This is a big limiting factor.

For Nigeria's Internet economy to have any significance to foreign investors and venture capital firms, they have to be able to generate some revenue. Where will the revenue come from if its not safe to buy or sell anything online. Something has to be done!

Anyways a few companies are trying to solve this problem, but is the online community with them?

Interswicth:- The biggest ATM/debit card provider in Nigeria. They are also in the e-payment, online payment business. The users may be a bit more comfortable with this service and it can easily claim being the biggest online payment service because of its large number of ATM card users due to their e-banking contarcts with so many banks in the country. The startup cost for websites here is around 150,000 Naira.

Fastecash:- This service is very similar to paypal, users make bank deposits to fastecash's bank account and their online account is credited which they can use to pay for goods and services on websites registered to the service, users can also apply for credit cards so they can pay for the services they buy in dollars from international websites.

NetNaira:- This service claims to have more than 15,000 members. Registered members can use ATMs to load their online accounts and pay for goods and services on Nigerian sites that are registered with NetNaira.

Nigerian Internet marketers

I think at first I underestimated the knowledge of many Nigerian Internet marketers.
I think this is part of Ignorance from my side.
Being into internet marketing since 2002, that is long before most of them had a website or even email adress, I just didnt listen to any of them when they started out.
I have learnt from so many of the World renowned Internet marketers, but I still learnt a lot from our own Internet marketers here in Nigeria.

I have began studying most of them and here are a few that I find most interesting.

Lateef Olajide

I think he is the most respected of Nigerian Internet Marketers, he owns the site Internet Marketing Nigeria, I have read a lot of his articles and he surely knows what he is doing.


There are a few other names that I will write on and study them more

# ways of motivating yourself to work towards achievement

Sometimes, setting up a time table to finish a certain project isn't always enough to have you work at your best and make sure you meet up with the date. Projects or building products or business may suffer not being completed or dropped in the market at the right (best) time due to delays and lack of motivation from the product builders or people working on the project.

How many times would you spot an idea and a good money making potential and sit back and do nothing about it or sometimes you start and stop or just forget about it on the way.
The most successful people in the world are highly motivated and focused. Whenever they get busy with something, there is no turning back.

So how can you get yourself motivated, focused and not be a failure in what you do.
I am a writer and a building designer, to succeed in either of these fields, one needs not to be lazy and one needs to be highly focussed.If I will take longer than usually to produce completed building designs, I would slow the project, the client and the contractor. This will affect future jobs I get and I will end up not having a job at all.

As far as writing is concerned, sometimes you just dont feel like picking up a pen to write or logging on to a computer totype a story, and if you dont move yourself to do so, no words means no job to a writer, so you really need to settle down, compose yourself and come up with a good article, take your time to do reviews and corrections if you want that article to be presentable and to fetch you anything.

Sometimes you just feel too busy to do anything, so let my give you a few tips that may help.

1. put on a video and move staright to a rich fabolous scene.
2. read a quote or a page in an inspirational book
3. picture yourself in the future (as a rich and succesful individual)

In the next post we will explain more on how it is done, till then...

Nigerian Forum

In our first feature we will review Nigeria's no 1 online forum, though it is not a start up, but with a good makeover it will be one of Nigeria's hottest web destinations.

Nairaland.com

Members - About 250,000 members

Type - Nigerian forum


Nairaland is a very busy forum for nigerians to discuss all sorts of topics (including gossip) its been online for a while and is also a good spot for promoting anything targeting Nigerians.

It has subforums for entertainment, politics, business and many more.

Possible Makeover - The forum can be transformed into a social network discussion, features like better profile pages, picture and video sharing can be added to improve the user experience.



If you have a Internet startup in Nigeria or one targeting Nigerians, drop us a comment and we will give it a visit to consider it for review.

Nigeria's Internet Startups

Many Internet Startups and mostly web2.0 startups are emerging in Nigeria. Many are just social networks, some are similar to digg and others are completely original ideas.
The main reason why we see so many Nigerian startups at this time is mainly because of the growth of Internet usage in Nigeria and these Netrepreneurs are hoping to cash in.
We will be reviewing the best of these startups and giving Nigerian Internet users the latest in other Internet and Technology news around the world.