Nigeria’s digital landscape is flourishing. The country has one of the biggest internet economies in Africa, with the continent’s largest population and one of the youngest worldwide. Nigeria presents a vast digital audience. Nigeria has one of the best network coverages, as well as good infrastructure for mobile connectivity in Africa. Internet penetration is around 70 percent and is projected to increase steadily. Estimates from different sources put the number of smartphone users in Nigeria between roughly 25 and 40 million. In fact, mobile devices are much more frequently used to access the internet than desktop devices. In 2019, over 70 percent of internet accesses were recorded on mobile devices, whereas this share was even higher when it came to online marketplace visits.
So. What does this mean for your business?
Despite the low popularity of credit cards and digital payments, e-commerce has been growing significantly in Nigeria, especially between 2019 and 2020. Food and personal care rose by 56 percent, whereas the fashion, skin care and beauty sector experienced an increase of over 40 percent. The most valuable e-commerce sector in Nigeria was, indeed, fashion, skin care and beauty, which achieved 1.8 billion U.S. dollars in consumer spending. Overall, the number of visitors in online marketplaces grew constantly, exceeding 250 million in 2019. In addition, the results of different surveys conducted by Statista in 2021 show that Nigerians have a very positive attitudes towards online shopping. Fashion, beauty, skin care, and consumer electronics were the most common items purchased online among Nigerian respondents.
There’s money to be made with eCommerce, the earlier you jump in, the better.