Nigeria’s economy has often been framed in global investment circles through volatility, currency instability, inflationary pressure, supply chain disruptions and uncertainty around reform implementation.
However, at the Sohn Conference in New York, Chief Executive Officer of Jumia Group, Francis Dufay, offered a contrasting view, positioning Nigeria at the centre of reform, growth and longer-term stability, according to a statement from the firm on Tuesday.
Speaking during a panel on emerging markets, Dufay described the period between 2021 and 2024 as one of the most challenging economic cycles in recent memory for African markets, with Nigeria among the most affected. Sharp currency fluctuations, declining consumer purchasing power and elevated inflation created difficult operating conditions, particularly for import-dependent sectors such as logistics, payments and retail.
He noted that for businesses like Jumia, where pricing stability, inventory planning and payment predictability are essential, the volatility placed significant strain on operations.
However, Dufay said
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