Konga Founder Sim Shagaya Praises Tinubu’s Policies Despite Hardship

Sim Shagaya, the Founder and former CEO of Konga, Nigeria’s ecommerce giant Konga, has expressed his support for President Bola Tinubu’s economic decisions.

Despite the current challenges in Nigeria, he believes that enduring this current pain is necessary for the country’s advancement.

Shagaya shared his views during the recent Builders Summit organised by Founders Connect in Lagos.

He emphasised that if bold steps like these had been taken earlier, Nigeria wouldn’t be facing the difficulties it is facing today.

“There is no way we can build the country we want without this pain. We have to go through it one way or the other,” he stated.

Shagaya likened Nigeria’s dependence on crude oil to a long-standing addiction, suggesting that the current discomforts are akin to withdrawal symptoms.

Drawing a poignant analogy, he stated, “If you have a friend that is hooked on drugs and you’ve seen them go through withdrawals, that is what is happening now. I know many of us are not responsible for the 40 years of addiction. That’s the part that is unjust.”

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Shagaya’s endorsement of Tinubu’s policies comes amidst a backdrop of economic uncertainty, with many Nigerians feeling the pinch of inflation and dwindling purchasing power.

Despite this, the he remains steadfast in his belief that short-term pains are inevitable for long-term gains

About Sim Shagaya

He founded Konga in July 2012, which quickly became one of the country’s largest ecommerce platforms.

Konga attracted significant investment, including a $10 million Series A round in early 2013 and a groundbreaking $25 million Series B round later that year.

However, despite its initial success, Konga faced challenges in 2018, leading to massive layoffs and its eventual acquisition by Zinox, a Nigerian computer manufacturing and distribution firm.

Post-Konga, Shagaya continued his entrepreneurial journey, with the launch two successful ventures – ULesson and later Miva Open University.