This is the story of Mobutu Sese Seko, the brutal dictator installed by the United States of America, defended by France and helped by Belgium to hold the DRC hostage for 3 decades.
Lol… someone that will be using orisa and irumole eulogy to eulogize Jehovah… example is when she’ll be saying Alagbada ina, thats Sango eulogy not Jehovah.
Proper worshipper keh..lots of the name you Yoruba used to explain Jehovah is for the orisa and Irumole which is wrong
So, GoLemon shut down last week. FoodCourt went dark a few months before it. EdenLife quietly buried its consumer business and ran to corporate clients.
Everybody online, even the ones who shouldn't, explained it almost the same way:
👉🏾 Funding winter, but it's sunny all year around here
👉🏾 Brutal macro, yes tough break boyz
👉🏾 Naira, it's already somehow at fault
All true. All incomplete.
Here is the part nobody wants to say: most of these were not killed by the market being cruel to them. They were killed by US NOT PAYING for the things we swore we LOOOOVVVEEEEEDDDD!
GoLemon said its orders were actually profitable, around ₦43K a basket. It still died, because it never hit the volume to carry the warehouses, the engineers, the fleet, the whole stack it owned
FoodCourt hit $4.3M in ARR and called itself profitable in 2024, then couldn't make payroll a year later
EdenLife was the poster child of the entire Africa-rising middle-class dream, premium concierge for the upwardly mobile Lagos professional. It took an honest look at its own unit economics and surrendered the consumer business.
Now look at who is winning in the exact same sectors. Chowdeck, asset-light, moving over ₦1.5B of groceries in a single month. Moniepoint. Twiga. Eden itself, now chasing corporate contracts. The pattern is not subtle.
In a market like ours, necessity scales and nice-to-have doesn't.
The businesses that reach real size sit on top of things people cannot say no to
Moving money(Paystack, Flutterwave, MoniePoint)
Financing an asset that earns(Carbon, MKopa, Sycamore, etc...)
Feeding a company(Mono, Lendsqr, etc...)
Credit
The middle-class convenience app dies because our middle class is thin, stretched, and one bad week away from cooking at home to save money. There is a cheaper informal version of almost everything you sell. So people don't pay. Then we blame VCs for not funding the very thing we ourselves won't buy. That math has never worked.
But here is where I have to be careful, because this is where people get loud and wrong. An earlier version of me did too
The problem is NOT that companies serve poor or desperate people. Serving the underserved is the most important work on this continent. The problem is that necessity demand is dangerously easy to abuse. When your customer cannot walk away, bad terms stop being a mistake and become the model. Opaque pricing. Punitive collections. Locking an asset after it has been fully paid for.
That is the real line. Not who you serve but the terms
Same customer. Same poverty. Clean terms, you built financial inclusion. Dirty terms, you built a debt trap with a pitch deck. One market already proved it is the terms and not the poverty: force real price disclosure on lenders and the rates fall overnight, same borrowers.
So, the culture is not "exploitation" not really. That is lazy and I no longer believe it. The honest version is harder:
Our market rewards necessity over nice-to-have. Necessity is easy to exploit if you choose to. And the whole game, the only game, is refusing to blur inclusion and extraction at exactly the moment blurring them pays better.
That is the conversation. I am ready to have it in the open
Are we?
I earned $120K a year working for Shell in 2012.
Ten years and multiple promotions later, in 2022, that figure has doubled to $240K a year.
In 2023, I stumbled on an internal, confidential, document that showed the salaries of my superiors.
I saw that even if I were promoted multiple times again, the best I could hope for in another 10 years was another doubling to around $480K a year.
This may sound crazy saying it out loud but that wasn’t cutting it for me.
I simply didn’t want the next 10 years to be a repeat of the last 10.
I wanted geometric progression, not an arithmetic one.
On my 40th birthday, in 2023, I was asked to make a wish as a blew the candles on my birthday cake.
“Get the hell out of Shell,” I quietly whispered. Months later, I was out.
In 2024, my businesses grossed $500K; in 2025, they did $1M - geometric progression.
It required me to be delusional about my abilities, to bank on the faithfulness of God and to trust that inner voice that always nag at me that I could be more, I could do more and I could have more.
The shutdown of Nigerian food delivery startup GoLemon reminded me to review the financials of Food Concepts, which owns Chicken Republic, the hugely popular Nigerian QSR chain.
Food Concepts' revenue is still growing fast (topping ₦100B for the first time), but the big story is its improving profit margin. After pitiful profits between 2022 and 2024, it swung to 7% last year.
The 2026 World Cup prize money is officially in 💰
• Spain, 1st place: $51 million • Argentina, 2nd place: $34 million • England, 3rd place: $30 million • France, 4th place: $28 million • Quarterfinalists: $20 million each • Round of 16 teams: $16 million each • Round of 32 teams: $12 million each • Group-stage teams: $10 million each
(via @FortuneMagazine )
Check it out for yourself on Google Maps. If the right thing is not done we will keep experiencing the same thing every year.
For those of you who keep saying the drainage is blocked because of trash, I hope you learn now. Those sand-filled blockages are everywhere.
That’s a major reason why there are floods on this side of the peninsula. 🆘🆘🆘 @hctokunbowahab @drobafemihamzat@lagosstategovt
This is the last time I will say this here. I have seen many homes in Ajah are now for sale. If you know what is good for you and your generation, get a good surveyor, before you buy houses anywhere around Ajah.
If possible, use your bank to buy it. Let them do the due diligence for you.
I won’t say more than this.
Road Safety by the airport stopped my driver today.
Driver called me panicking that he can’t find the fire extinguisher and C-Caution and the officer is hassling him. I remembered the post from a few days ago about the cost of the charges being around N3-5k.
I spoke to the officer, told him even though I knew it’s somewhere in the car, he should please issue us a ticket and let him continue my errand. He was let off with a warning.
Please help me tag that tweet I want to see the actual costs and RT for awareness. 😀