March 28, 2022/Coronation Research

The demand for mobile data usage as well as increased network coverage has increased the potential of Nigeria’s e-commerce market. Based on data from the Nigerian Communications Commission (NCC), as at end-2021, mobile network coverage was estimated at 102% based on a population size of 190 million.

However, internet data penetration via GSM was at 74.5%.  A thriving e-commerce market will enable small and medium-scale enterprises (SMEs) across the country benefit from increased business activity and reduction in operational costs, which would translate into increased profit margins.

The role of e-commerce was re-emphasized following the outbreak of the COVID-19 pandemic. There has been a visible boost to online marketplace activities. 

For the full economic note, please click here.