The Main Reason Why OLX Is Shutting Down Nigeria Office

OLX is one of the top classified ad’s websites in Nigeria and in statement just released by the company, they have opened up on the recent decision made to close their Nigeria office.

According to OLX Nigeria’s Public Relation and Communication Lead, Uche Nwagboso, there is the need to consolidate international operations of the company. But they however stated that the website and its services will be operational in Nigeria.

The company’s statement reads:

“We made a difficult but important decision in Nigeria to consolidate our operations between some of our offices internationally. Our marketplace will continue to operate here – uninterrupted – as it has since 2010, and we remain committed to the many people here who use our platform to buy and sell every month. We continue to be focused on constantly innovating to make sure that OLX remains the top classifieds platform in the country.”

OLX was establish in the year 2006 by Alec Oxenford and Fabrice Grinda to serve as an alternative and major competition to Craigslist. The company immediately began to grow and they had operations in many countries of the world. The Nigeria office of the company was opened in 2012.

In 2014, a South African media group, Naspers, bought a majority stake in the company in 2010. At present, Naspers owns 95% of the business.

The statement added

“Of course, we are committed to helping our affected colleagues during this transition and have already offered them meaningful financial and other support. As we’ve expressed to them directly, we are extremely grateful for their many significant contributions to OLX’s success,”

OLX currently operates in 45 countries across the world including Nigeria, Kenya and South Africa. The company is rated as the largest online classified ads company in India, Brazil and Eastern European countries.

OLX is also considered to be the largest classified Ads website in Nigeria

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