Market Overview
eCommerce market revenue is expected to grow at a rate of 10.81% per year (CAGR 2023-2027)* * Source: Statista, 2023
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Population: 228M *
Approximately 17% of Nigerians own credit cards.
* Source: Worldometers 2024.
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eCommerce: 8.53B *
Nigeria is expected to achieve $10,030.00 million in eCommerce market value by 2027*
* Source: researchandmarkets, 2024
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Internet users: 45.5% *
Smartphone penetration is at 56% among Nigerians, this is why payment methods such as mobile money are important.
* Source: datareportal, beginning of 2024.
Gain insight into Nigeria's most relevant payment methods
- 29% Bank Transfer
- 20% Debit Cards
- 17% Credit Card
- 16% Cash on Delivery
- 10% eWallets
- 8% Others
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Credit and debit cards
Play like a local by offering traditional payment methods.
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Wallets
Tackle all audiences.
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Bank Transfers
Count on a wide variety of options to drive conversion.
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