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Capital Abuja -
Urban population 55.8% -
Population 237.5 M -
Median age 18.1 Yr
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GDP 363 Bn USD -
Official language English, (Hausa, Yoruba, Igbo, Fulfulde, Ibibio, Kanuri) -
Currency Nigerian Naira
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E-commerce market revenue 25.6 Bn USD -
E-commerce growth 21%
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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.
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People with mobile phone (% age 15+)95%
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People with internet access (% age 15+)55%
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People with bank account (% age 15+)45.1%
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People with debit or credit card (% age 15+)35.7%
- Card payments
- Online banking
- Wallets
- Other
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.
