All countries
Payment methods in Nigeria
Here are the top takeaways you need to know about the Nigerian e-commerce market:
- Between 2020 and 2022 alone, the online population of Nigerians increased by almost 11 million to 115,000.
- The Nigerian e-commerce market was worth US$9 billion in 2023. By 2027, it will have grown to be worth US$14 billion.
- The average Nigerian online shopper spends US$72 a year with e-commerce merchants, rising to US$98 by 2027.
- Nigerians complete exactly half of all their online purchases using mobile devices such as a smartphone or a tablet.
- Between 2002 and 2022, the proportion of Nigerians with a bank account increased from 39% to 53%.
Population
Online Population
B2C E-commerce
Banked Population
Credit Card Population
E-commerce of Total Retail
Payment Method Breakdown
- Card 37%
- Cash 16%
- Bank Transfer 29%
- E-Wallet 10%
- Other 8%
[{"label":"Card","value":"37"},{"label":"Cash","value":"16"},{"label":"Bank Transfer","value":"29"},{"label":"E-Wallet","value":"10"},{"label":"Other","value":"8"}]
Card Scheme Breakdown
- Visa 18%
- Mastercard 30%
- American Express 0%
- Local schemes 52%
- Other 0%
[{"label":"Visa","value":"18"},{"label":"Mastercard","value":"30"},{"label":"American Express","value":"0"},{"label":"Local schemes","value":"52"},{"label":"Other","value":"0"}]
Cross-Border E-Commerce
66
Online shoppers who have shopped cross-border
N/A
Cross-border proportion of total e-commerce
N/A
$US
Value of cross-border e-commerce
Top cross-border shopping origin markets