I think the lingering question here remains: what’s the Total Addressable Market (TAM) for subscribers who live in Nigeria? There remains a non-demonstrated argument, data or even service for a sufficiently large enough subscribers-TAM. Nigerian consumers seem to be only willing to pay for essentials/platforms (Electricity, Phone, Calling service, Internet, Facebook).

Ads are effectively a way to monetize when there isn’t a paying market: Ads aren’t really bad to users; terribly-targeted ads are bad ie users are fine with Google and Facebook ads (and Netflix and Amazon recommendations — technically, these are ads) but not Twitter ads. Perhaps what the Nigerian market needs is even more ads or more advertisers. Nigerians still can’t access content effectively on a wide array of issues they care about (politics, polling booths, service workers etc. I would wager we push till we find a platform on which ads work!