e-Commerce and Payments in Nigeria

Largest economy in Africa with payment focused solutions.

Card-based Payments

Cash-based Payments

Bank Transfer

Wallets

Smartphone Penetration

Internet Penetration

Type
Bank Transfer

Regions
Africa

Access to financial services is available to 60% of Nigerians, which presents considerable opportunity for businesses looking to grow there.
Digital payments to Nigerian businesses increased by 40% in the first half of 2022 compared to the same time in 2021.
Nigeria is the biggest consumer market in all of Africa, and retail is the second-largest contribution to GDP after oil.
Jumia.com.ng, which generated $20.7 million in sales in 2021, is the market leader in Nigeria. The top three retailers in Nigeria’s top 100 online retailers, including Slot.ng and Ajebomarket.com, account for 52.2% of the total sales.