Country Facts
  • Capital Abuja
  • Urban population 52.8%
  • Population 216 M
  • Median Age 18 Yr
  • 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)
E-Commerce Facts
  • E-commerce market revenue 6.6 Bn USD
  • E-commerce growth 16.3%
  • Online shopping habits Bank Transfer Payments are most popular ways to pay online in Nigeria, with Mobile Money and Wallet solutions swiftly catching up.
  • People with mobile phone (estimate)
    95%
  • Internet users, joined 2015-2020
    31%
  • E-commerce penetration
    41.9%
  • People with bank account
    45.1%
  • People with credit card
    35.7%
  • Mobile Money users (18.5 M)
  • Total population >15 years
Growth Opportunities

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.