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Capital Abuja -
Urban population 52.8% -
Population 211.4 M -
Median Age 18 Yr
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Region Western Africa -
GDP 440.8 Bn USD -
GDP growth 3.6% -
Official Language English, (Hausa, Yoruba, Igbo, Fulfulde, Ibibio, Kanuri) -
Currency Nigerian Naira (NGN)
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E-commerce market revenue 6.6 Bn USD -
E-commerce growth 16.3%
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Online shopping habits Bank Transfer Payments are most popular ways to pay online in Nigeria, with Mobile Money and Wallet solutions swiftly catching up.
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People with mobile phone (estimate)95%
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Internet users, joined 2015-202031%
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E-commerce penetration41.9%
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People with bank account45.1%
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People with credit card35.7%
- Mobile Money users (18.5 M)
- Total population >15 years
Nigeria offers a variety of opportunities for foreign merchants wishing to expand their e-commerce into new regions:
● The E-commerce market of the country is enormous, with over 6.6 billion USD and driven by a young and urban population. The market is expected to continue growing, as the country is experiencing rapid internet adoption across the country, with almost 1/3 of current internet users joining between 2015-2020.
● People are using e-commerce regularly as over 45% of Nigeria’s population are banked, and 35.7% have access to credit cards. However, while bank transfers are a popular way to pay online, Mobile Money is increasingly growing, with over 18 million of users already.
● Almost half of Nigerians are regular e-commerce users, thanks to a well-developed mobile and internet infrastructure. In fact, it is estimated that 95% of Nigerians are connected via mobile phone.
Nigeria is already a huge e-commerce market, and demonstrates further potential. The vast, young and growing population should not be overlooked by international merchants.