Economy
70% Nigerians Prefer Cash on Delivery to Online Payment—Jumia Boss
**As Mobile Phone Penetration Hits 84%
By Modupe Gbadeyanka
A report released by Africa’s leading e-commerce company, Jumia, on the Nigerian Mobile Sector has revealed that in 2017, 70 percent of Nigerians preferred the cash on delivery option to other forms of payment like the credit/debit cards, which accounted for 18 percent, and the mobile money option, which had 12 percent.
Also in the report, there was 11 percent rise in the number of Nigerians who visited the Jumia website via their mobile phones, 79 percent in 2017 versus 71 percent in 2016.
Meanwhile, those who used their desktop computers or laptops dipped to 18 percent in 2017 compared with 29 percent in 2016.
Speaking at the launch of the Mobile Report in Lagos, CEO of Jumia Nigeria, Ms Juliet Anammah, described the upward shift from desktop to mobile as a positive development. She attributed the increase in the number of mobile phone users to the multiplicity of affordable smartphones, especially the Asian mobile brands which continue to build on their Africa-specific strategy by introducing lower price points’ smartphones adapted to the profiles of African users.
She also listed a growing market for second-hand devices and the increasing use of social media sites (active social media users) as contributing factors.
Ms Anammah further hinted that “the mobile industry continues to play an increasingly important role in the socio-economic development of the African region. As Nigeria swiftly becomes a mobile first country, with mobile phone penetration currently at 84% of the population, Jumia is doing its bit to close the gap with sales initiatives such as Jumia Mobile Week.”
This year, the stage is set once again for the biggest sale of mobile phones, beginning March 19th through 25th. This is a mobile-phone-only one-week-long sales event dedicated to opening up our customers to a wide range of mobile devices at half the normal prices.
“We believe that, by end of 2018, at least every Nigerian will have access to a mobile phone,” added Ms Anammah.
In his remark, the Chief Transformation Officer of MTN Nigeria, Olubayo Adekambi identified “the expansion of E-commerce into a dual business model that blends the physical and the digital to create an ecosystem between brands and consumers across the two worlds”, as among the major factors fuelling the increase in adoption of smartphones.
In order to ensure rural dwellers have increased access to ICT devices such as smartphones, the National Information Technology Development Agency (NITDA) has created an IT Innovation hub, which has the capacity to produce e-literate groups from low skilled or low paid workers, unemployed people, and those with disabilities who do not have access to these ICTs.
“NITDA has seen in ICT the potential to change new and old forms of economic activity. We’ve created e-Learning Centres to further enrich the rural communities’ quest for learning and for continuous after-school reading and learning by both the students and teachers, among other initiatives,” noted the Government’s Agency Director General – Dr. Isa Ali Pantami.
The 2018 Mobile Report launch also had other Telecom & IT experts in attendance; as well as a host of Jumia brand partners, such as Techno, Infinix, Samsung etc.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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