On-demand food delivery platform, Glovo, has generated N71 billion in revenue for Nigerian businesses.
This was disclosed by Lamide Akinola, general manager, Glovo Nigeria, during the 2025 Future of Commerce Summit held in Lagos.
The event brought together restaurant operators, policymakers, ecosystem leaders, fintech pioneers, and investors to explore the evolving e-commerce landscape in Nigeria.
Akinola stated that since its launch in Nigeria in 2017, Glovo has invested over €200 million in building and optimising its delivery infrastructure across Africa.
The platform currently partners with over 6,000 restaurants and retail outlets, supported by a network of over 2,400 active delivery riders.
She noted that quick commerce recorded remarkable growth in 2024, becoming the fastest-growing segment with a 76% increase, highlighting Glovo’s pivotal role in accelerating digital retail adoption.
Akinola further pointed to a significant shift in user transaction preferences. Cash payments dropped from 88% of all orders in 2021 to just 39% today, a 55% decline, aligning with the federal government’s push for a cashless economy.
“This shift aligns with the government’s 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 restaurant partners and shops to scale through data, logistics, and financial inclusion.”
Folashade Ambrose-Medebem, Lagos state commissioner for Commerce, Cooperatives, Trade, and Investment, reiterated the state’s focus on supporting innovative platforms like Glovo.
She described Lagos’ future as people-centered, digital, and inclusive, noting various ongoing government programs and strategic collaborations designed to support Micro, Small, and Medium Enterprises (MSMEs).
