Founded in 2013 by Okechukwu Ofili, OkadaBooks – a leading Nigerian digital publishing and bookselling platform – shut down on November 30. Started by Okechukwu Ofili, the platform has helped more than 8,000 authors for free. It has more than 20,000 books available for users to download.
The closure is attributed to “insurmountable challenges” OkadaBooks has been facing. As reported by officials, the platform has been struggling to sustain its operations amid the economic downturn. Moreover, Nigeria’s lower reading culture has also contributed to this step of the company.
About OkadaBooks
OkadaBooks is a self-publishing and bookselling platform that started from Ofili’s frustration at the fact that bookstores were not paying him for his books that had already been sold. OkadaBooks allows anyone to publish and sell their books, given that they are authorized to do so.
The platform benefited by receiving a 30% commission upon publication while giving a 70% commission to authors or publishers. The store stocked an extensive range of books, from fiction to non-fiction and poetry to biography and more. Nearly 80% of books are available free for download. In addition, there was a large community of writers and readers, making it easier for everyone to interact and share feedback on their reads.
In a statement on X, OkadaBooks did not specify the exact challenges that have led to the shutdown. But this might be due to high inflation, the foreign exchange crisis, and the low purchasing power plaguing the Nigerian economy. In the statement, the company thanked its authors, partners, and readers for their support, hoping that the platform would be revived in the future.
The discontinuation of OkadaBooks depicts the Nigerian literary scene that is struggling to sustain and promote reading culture within the country. Instead of reading books, Nigerians prefer watching television, listening to music, and spending time on social media. A BusinessDay Research & Intelligence Unit report reveals that only 42% of survey participants prefer reading as one of their favorite forms of entertainment.
Moreover, Nigerians consume content through television, computers, mobile devices, and the Internet. As per the Nigerian Communications Commission (NCC), in July 2023, there were 159.5 million active Internet subscribers in Nigeria across mobile, fixed, and VoIP networks, mostly using these channels to do things other than reading.
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The post OkadaBooks Discontinues After 10 Years. Is Nigerian Literary Scene Struggling? first appeared on Good e-Reader.