Nigeria country report
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%.
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


Online shoppers who have shopped cross-border


Cross-border proportion of total e-commerce


Value of cross-border e-commerce

Top cross-border shopping origin markets