Country Facts
  • Capital Abuja
  • Urban population 55.8%
  • Population 237.5 M
  • Median age 18.1 Yr
  • GDP 363 Bn USD
  • Official language English, (Hausa, Yoruba, Igbo, Fulfulde, Ibibio, Kanuri)
  • Currency Nigerian Naira
E-Commerce Facts
  • E-commerce market revenue 25.6 Bn USD
  • E-commerce growth 21%
  • Online shopping habits Bank Transfer Payments are the most popular way to pay online in Nigeria, with Mobile Money and Wallet solutions swiftly catching up.
  • People with mobile phone (% age 15+)
    95%
  • People with internet access (% age 15+)
    55%
  • People with bank account (% age 15+)
    45.1%
  • People with debit or credit card (% age 15+)
    35.7%
  • Card payments
  • Online banking
  • Wallets
  • Other
Growth Opportunities

Nigeria offers a variety of opportunities for foreign merchants wishing to expand their E-commerce into new regions:

● Bank Transfer Payments with methods like Paga Wallet are the most popular way to pay online in Nigeria, with Mobile Money and Wallet solutions swiftly catching up.

● The E-commerce market of the country is enormous, with over 25.6 billion USD and driven by a young and urban population. The market is expected to continue growing by 21.0% (CAGR) in the next four years, reaching 54.8 billion USD by 2029.

● With mobile penetration at over 95% (age 15+) and increasing investments in broadband infrastructure, Nigeria’s internet accessibility is improving rapidly. Affordable smartphones and widespread 4G/5G network coverage are further driving digital adoption.

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.