Nigeria’s technology market is often characterized by its challenges, including unreliable infrastructure and a volatile economy. However, Dotun Daniel Adekunle, OPay’s chief operating officer and chief technology officer, believes that companies built to survive the country’s worst days are the most durable.
Adekunle made this argument in a keynote titled “Markets That Refuse to Break” at Moonshot by TechCabal on 28 October. He emphasized that companies must adapt to local conditions to succeed in such a challenging market.
OPay recently filed to list on the New York Stock Exchange, reporting revenue of $467.1 million in the first half of 2026, up from $197.5 million a year earlier. 89.5% of this revenue came from Nigeria, with lending overtaking payments as the company’s largest business.
Adekunle cited the 2023 cash crunch as an example of the company’s resilience. When the naira redesign left Nigerians short of cash, OPay’s nationwide agent network helped the company maintain its services despite the surge in transfers and bank app failures.
Adekunle stated that companies must adapt to the local environment to survive. He said, “You have to adapt to the local environment, or you’ll die.” He also emphasized that technology is designed for the local reality.
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Adekunle further emphasized the importance of treating regulators as partners, rather than opponents, and incorporating regulation into the design process. He argued that fragile assumptions, not fragile markets, break companies.
Adekunle identified three assumptions that builders should drop: designing for an average day, relying on technology to replace people, and viewing regulators as opponents. He noted that these assumptions can lead to companies’ downfall.
OPay’s experience with a fake notice claiming the company would shut down on 1 September also highlighted the importance of resilience and community. The company denied the notice, and the Central Bank of Nigeria and police took action to address the issue.
Adekunle closed his keynote by urging builders to treat the world as their operating system and to have the courage to take on global challenges. He said, “If you can survive Nigeria, you can survive the world.”
According to local reports, Adekunle’s keynote at Moonshot by TechCabal provided valuable insights into the Nigerian technology market. His argument about the importance of adaptability and resilience is supported by OPay’s own experience in the country.
