Glovo, the popular on-demand delivery platform, announced on Wednesday that its Nigerian operations have generated a staggering ₦71 billion ($42 million) in revenue for over 6,000 local vendors since its launch in 2021. The milestone, unveiled at the company’s “Future of Commerce 2025” summit in Lagos, underscores Glovo’s impressive growth in Nigeria’s competitive e-commerce landscape and its ambitious plans to evolve into a comprehensive retail marketplace.
These Nigerian vendors represent 13% of the 45,000 African businesses supported by Glovo across the continent. Since its initial foray into Africa in 2018, Glovo has invested €200 million, establishing operations in 75 cities across six countries: Côte d’Ivoire, Kenya, Morocco, Nigeria, Tunisia, and Uganda.
In Nigeria, Glovo currently operates in 11 cities, with Lagos accounting for the lion’s share of its activity. The company also highlighted that its 2,400 riders across Nigeria earn two to three times the national minimum wage of ₦70,000 ($43), a figure comparable to reported earnings for Chowdeck’s extensive rider network. During the summit, an Abuja-based rider was recognized for completing an impressive 14,000 deliveries since 2021.
“We’re fostering a tech-driven, inclusive marketplace that scales Nigerian SMEs through data, logistics, and financial tools,” stated Lamide Akinola, Glovo Nigeria’s General Manager, at the event. While celebrating its Nigerian success, the company acknowledged its strategic exits from Egypt and Ghana due to profitability challenges, a move that echoes Jumia Food’s recent withdrawal from Ghana amidst economic headwinds.
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Glovo reported a significant 76% surge in quick-commerce Gross Merchandise Value (GMV) in 2024, primarily driven by its diversification into non-food items such as electronics, beauty products, and pharmaceuticals. Currently, 20% of its Nigerian users are purchasing beyond food, aligning with global and local trends where food delivery startups, including local players like Chowdeck and HeyFood, are transforming into broader marketplaces for essential goods.
A notable shift towards digital payments was also highlighted, with cash transactions dropping by 55%—from 88% of Glovo orders in 2021 to just 39% today. This aligns with Nigeria’s broader cashless economy drive. Unlike some competitors, such as Chowdeck and FoodCourt, which have restricted cash payments to mitigate losses from uncompleted orders or driver fraud, Glovo’s continued acceptance of cash may be a deliberate strategy to build user trust and wider adoption.
The summit also saw Glovo unveil its “Yellow Effect Report,” claiming the platform has generated €1 billion in economic value for 45,000 African businesses—90% of which are SMEs between 2020 and 2024. Panel discussions featured executives from prominent Nigerian eateries like Chicken Republic, Burger King, and Sweet Sensation, alongside financial providers such as Moniepoint and WEMA Bank, who discussed critical issues surrounding SME financing. Popular virtual kitchen owners, including 500Chow, Toasties, and FireWood Jollof, shared testimonials on how Glovo has been instrumental in product distribution by simplifying logistics challenges.
