Okadabooks, Nigeria’s trailblazing digital publishing and bookselling platform, has announced its intention shut down operations on November 30, 2023, after 10 years of operations. The company attributes this decision primarily to the “insurmountable challenges” posed by the prevailing macroeconomic conditions.

Okechukwu Ofili, the CEO of Okadabooks, communicated the profound difficulties through a statement posted on his social media handle X.

“After much consideration and reflection, we have come to a difficult decision. OkadaBooks will be closing its virtual doors on November 30, 2023. This has not been an easy choice. We’ve explored various avenues to keep our virtual bookshelves alive, but, unfortunately, the challenges we face are insurmountable,” he said.

“As we bid farewell to OkadaBooks, we hope that you continue to explore the vast world of literature through other avenues. The adventure doesn’t end; it merely takes a new and exciting turn,” he added.

Established in 2013 by Nigerian author Okechukwu Ofili, Okadabooks embarked on a mission to simplify book distribution and sales in Nigeria. Given the challenges Nigerian authors face in securing publishing contracts and the financial burdens of self-publishing, Okadabooks aimed to make self-publishing more accessible.

The platform facilitated a direct connection between writers and readers, allowing authors to share their works and earn from them through its Android application and online platform. As outlined on the company’s website, Okadabooks operated on a commission structure, taking 30% of each sale.

Okadabooks gained acknowledgment as one of the 12 startups chosen for Google’s Launchpad Accelerator Africa in 2017. The digital publishing platform asserted to have a collection of more than 40,000 original books and proudly maintained a community of 400,000 registered readers. Now, with the impending shutdown of the platform, authors who depended on Okadabooks to monetize their literary creations will have to explore alternative avenues.