Nigerian business owners and employers must embrace innovation as a core survival strategy amid persistent economic challenges, Co-founder of ErrandBoy Nigeria, Fatimoh Mohammed, said on Tuesday.
Mohammed, who also serves as CEO of A’Bottles Premium Store, warned that bold ideas alone are insufficient for sustained success.
“A great idea is just the starting point,” Mohammed noted in a statement. “The real edge lies in harnessing data for smarter decisions, staying agile, and innovating continuously.”
Her comments come as Nigeria’s economy shows signs of stabilisation, driven by bold reforms in subsidy policy and foreign exchange management. These measures are laying the foundation for a more growth-oriented business environment, boosting investor confidence.
However, persistent inflation and the need for policy continuity remain critical concerns for businesses, requiring strategic adaptability to navigate potential risks.
The expert shared a practical example of how her own ventures illustrated the power of data-driven strategies. At A’Bottles, she leveraged analytics to generate $100,000 in revenue within six months, surpassing $250,000 by 2023.
ErrandBoy Nigeria, her co-founded urban services platform, has completed over 100,000 errands with an 85 per cent client retention rate, a success she credits to data-informed operations.
“Success depends on execution, deep market insight, and adaptability,” Mohammed said. “Businesses must anticipate consumer shifts and industry trends, not just react to them.” She stressed that innovation is a constant necessity, not a luxury. “In a data-rich world, those who master it will lead.”
