Five hardest lessons from a Nigerian startup perspective: Jason Njoku, Founder & CEO, iROKOtv

Jason Njoku, Founder & CEO, iROKOtv

Below are some musings of an entrepreneur who tends to err on the side of negativity. However, I’m an eternal optimist, really, when it comes to doing business in Nigeria. The continent keeps me alive, and doing business elsewhere in the world now feels sterile, compared to the hustle of Nigeria.

1. Money
If you don’t have family connections or wealth — if you’re just a regular person, with a killer idea, it’s difficult to gain momentum and set up shop in Nigeria when you have to find up to two years’ rent for your office space, internet costs are disproportionately high in the country (although vary across Africa) and other business ‘expenses’ means it’s super-costly just to get started. Credit as we know it still doesn’t really exist in Nigeria, so starting up is your first major hurdle.

If you manage to start the ball rolling, you’ve started your preparation for the turbulence of startup life. Well done.

Read more: Motive: Five hardest lessons from a Nigerian startup perspective | Marklives.com

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