24 February 2020
It is no longer news that the Lagos State Government (“LASG”) has officially banned motorbike and tricycle-taxis, otherwise known as Okada and Keke, respectively, from operating in select locations across Lagos, Nigeria’s commercial hub.
This singular development has stirred up a lot of controversy in view of the impact on commuters and equally so, the motorbike hailing businesses. These businesses operate a business model that is premised on providing technology enabled mobility solutions to commuters.
The impact of these businesses in the Nigerian innovation ecosystem is without doubt: In 2019, out of the over half a billion dollars funding secured by Nigerian startups, mobility solutions related businesses accounted for about 20%.
Based on the foregoing, this newsletter aims to highlight the commercial and regulatory implications of this development viz-a-viz the trickle-down effect on the wider spectrum of the innovation ecosystem.