Nigeria to Earn FX as Indigenous e-Hailing App Deploys Overseas

Nigeria may soon start earning foreign exchange from service export following plans by an indigenous company, E.F. Network Limited to launch its e-hailing operations in the country as well as compete in other parts of the world.

The Chairman/Chief Executive, E.F Group, Mr. Gideon Egbuchulam, said the Gab Taxi app, which was developed locally by over 30 highly qualified local software engineers would be entering other countries next month.

Speaking during a media interactive session, he said the development would earn the country the much-needed foreign currency, adding that “Our agenda for 2024 is to enter America, Europe and Asia”.

He noted that Nigerians have been excelling in various aspects of life particularly ICT at home and overseas stressing that the berth of a world-class taxi app represented another major feat for the country.

Egbuchulam, “If there is one area where Nigerians have left their footprint unchallenged is the ICT. Many Nigeria ICT companies are competing with foreign ones at a pace unprecedented and Nigerians have shown that they are equally as good as the Americans or Europeans.

Some of the best Fintech companies in the world today are owned by Nigerians.”

He said E.F Networks is committed to creating its version of Silicon Valley in Nigeria, pointing out that since the commencement of operations in 1995, the company has developed different innovative technological products ranging from e-commerce, internet, lost phone locator, car trackers, safe school personal trackers, phones, security gadgets, electronics, and now a taxi app.

On why he decided to venture into the e-hailing business, he said he was touched by the poor treatment of Nigerian drivers working under existing international hailing services.