Glovo Generates N71bn Revenue for Nigeria Businesses
Glovo, a leading technological multi- category platform has generated a revenue of N71 billion for its local partners in Nigerian since its inception in 2021. The General Manager, Glovo Nigeria, Mrs Lamide Akinola, made this known on Wednesday in Lagos at the 2025 Future of Commerce Summit.
The summit gathered ecosystem leaders, restaurateurs, policymakers, fintech pioneers, digital marketers, and investors to explore the future of business in Nigeria’s fast-paced commerce landscape. Akinola said the platform since its journey in Africa in 2017 had invested over €200 million in building and growing the delivery ecosystem on the continent.
She said Glovo with over 6,000 shops and restaurants continued to demonstrate its capacity to drive partner growth at scale, being a first entry-point for most businesses into the online world. Akinola noted that in 2024 alone, quick commerce emerged as the fastest-growing segment with a 76 per cent growth, reinforcing Glovo’s role as a catalyst for rapid digital retail expansion.
She added that a notable transformation had also occurred in the way users transact via the app with cash payments dropping from 88 per cent of all orders in 2021 to just 39 per cent today, indicating a 55 per cent decrease.
“This shift aligns with the government effort to promote a cashless economy and highlights Glovo’s contribution to advancing financial inclusion in Nigeria. “As we look ahead, our focus remains on enabling restaurants partners and shops, to scale through data, logistics, and financial inclusion,” she said.
The Commissioner for Commerce, Cooperatives, Trade and Investment, Lagos State, Mrs Folashade Ambrose-Medebem, declared that the future of commerce in Lagos was digital, inclusive, and people-centered.
Ambrose-Medebem affirmed that with the state’s various programmes and strategic collaborations with forward-thinking platforms like Glovo, Lagos, was bridging the financing gap for Micro, Small and Medium Enterprises.
“We are also driving innovation, job creation, and long-term economic resilience. “Our vision is to build a 21st-century economy where no business is left behind,” she said.
In recognition of excellence within its ecosystem, Glovo presented awards to outstanding partners.City Subs received the ‘best rated’ award for the highest number of positive reviews for delivered orders. Christian Ogbu and Bija Samson were honoured as ‘veteran riders for their excellent performance and highest number of completed orders delivered on Glovo #Glovo Generates N71bn Revenue for Nigeria Businesses#
