As of 2022, most e-commerce and retail tech startups in Nigeria specialized in multi-products. This referred to nearly ** percent of ** ventures. Moreover, retail-tech ventures represented a share of over ** percent, while those operating in food, drinks, and groceries accounted for around ** percent of the total. Overall, startups in Nigeria are concentrated in Lagos.

The Nigeria Digital Transformation Market report segments the industry into By Type (Artificial Intelligence and Machine Learning, Extended Reality (VR and AR), IoT, and more), and By End-User Industry (Manufacturing, Oil, Gas, and Utilities, Retail and E-commerce, and more).

The Nigerian e-commerce market, valued at $8.53 billion in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 11.82% from 2025 to 2033. This expansion is fueled by increasing internet and smartphone penetration, a burgeoning young population eager to embrace digital technologies, and a growing preference for convenience and wider product selection offered by online platforms. Key drivers include improved logistics infrastructure, the rise of mobile money and digital payment systems, and government initiatives to support digital economy growth. Trends such as the increasing adoption of social commerce, the growth of online marketplaces, and the expansion of e-commerce into previously underserved regions are further propelling market expansion. However, challenges remain, including concerns about internet accessibility in some areas, limited digital literacy among certain demographics, and the need for further development in secure payment gateways and robust consumer protection policies. The market is segmented by B2C and B2B e-commerce, with B2C dominating due to the high consumer demand. Popular application categories include beauty and personal care, fashion and apparel, consumer electronics, food and beverage, and furniture and home goods. Leading players like Jumia, SLOT Systems, and Ajebomarket are actively shaping the market landscape through their diverse offerings and strategic partnerships. The projected growth trajectory signifies significant opportunities for both established and emerging players. Strategic investments in logistics, technology, and marketing are crucial for success. Furthermore, collaborations with local businesses and focus on addressing consumer trust and security concerns will be vital in further unlocking the market's vast potential. While challenges exist, the positive market outlook points towards a significant increase in e-commerce transactions and market value throughout the forecast period, cementing Nigeria’s position as a key player in the African e-commerce landscape. The expansion into diverse product categories, including those addressing specific local needs, will further fuel growth. Recent developments include: June 2024: GBLagos Art and Lifestyle, a Nigerian startup, unveiled ekoartmarket.com, an e-commerce platform to globalize African art. The company views this move as a pivotal step in its quest to democratize African art and uplift local artisans., February 2024: Zandaux, a B2B platform, expanded its reach by launching an e-commerce marketplace in Nigeria and Kenya. Embracing a "one Africa, one market" ethos, Zandaux empowers businesses and merchants from diverse sectors to reach customers across the continent.. Key drivers for this market are: Adoption of Online Mode of Payments, Growing Penetration of Internet. Potential restraints include: Adoption of Online Mode of Payments, Growing Penetration of Internet. Notable trends are: Growing Penetration of Internet is Expected to Drive the Market.

The Nigeria Foodservice Market report segments the industry into Foodservice Type (Cafes & Bars, Cloud Kitchen, Full Service Restaurants, Quick Service Restaurants), Outlet (Chained Outlets, Independent Outlets), and Location (Leisure, Lodging, Retail, Standalone, Travel). Get five years of historical insights and forecasts.

Nigeria Data Center Power Market size was valued at USD 135 Million in 2024 and is projected to reach USD 310 Million by 2032, growing at a CAGR of 11.2% from 2026 to 2032. Key Market Drivers:Rising Demand for Cloud and Colocation Services: The Nigeria data center power market is experiencing significant growth due to the rising demand for cloud and colocation services. According to the National Bureau of Statistics (NBS), Nigeria's ICT sector grew by 10.32% in Q1 2023, driven by increased digital adoption. Businesses and government agencies are migrating to cloud-based solutions, requiring more data center capacity. Key players like MainOne (an Equinix company) and Rack Centre are expanding their facilities to meet this surge. Recently, MainOne announced a USD 50 Million investment to enhance its Lagos data center, reinforcing Nigeria’s position as a regional hub.

The Nigeria Location-Based Services Market is Segmented by Location (Indoor and Outdoor), Service Type (Professional and Managed), and End-User Industry (Transportation and Logistics, Manufacturing, Retail, Consumer Goods, Automotive, Healthcare, and Other End-User Industries). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Nigeria GDP: Basic Prices: Services: Wholesale and Retail Trade data was reported at 11,169,658.690 NGN mn in Dec 2024. This records an increase from the previous number of 9,008,853.594 NGN mn for Sep 2024. Nigeria GDP: Basic Prices: Services: Wholesale and Retail Trade data is updated quarterly, averaging 5,208,448.839 NGN mn from Mar 2010 (Median) to Dec 2024, with 60 observations. The data reached an all-time high of 11,169,658.690 NGN mn in Dec 2024 and a record low of 2,191,342.831 NGN mn in Mar 2010. Nigeria GDP: Basic Prices: Services: Wholesale and Retail Trade data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s Nigeria – Table NG.A005: SNA 2008: GDP: by Industry: Current Price.

Nigeria Oil And Gas Market size was valued at USD 34.18 Billion in 2023 and is projected to reach USD 47.034 Billion by 2031, growing at a CAGR of 9.6% from 2024 to 2031.

Nigeria Oil And Gas Market: Definition/ Overview

Oil and gas are fossil fuels made from ancient organic stuff buried beneath the Earth's surface for millions of years. Oil is processed into gasoline, diesel, jet fuel, and lubricants, whereas natural gas is used to heat homes, generate electricity, and fuel industrial plants. They are the cornerstone of worldwide energy systems, powering economies, industries, and modern lives. In addition to providing energy, they are important raw materials in the petrochemical industry, helping to produce plastics, synthetic textiles, and other daily goods.

The Fashion eCommerce market in Nigeria is predicted to reach US$546.3m revenue by 2025. The top online retailers in the market are jumia.com.ng, ajebomarket.com and watchlocker.ng.

This chart provides a detailed overview of the number of Nigeria online retailers by Monthly Product Sold. Most Nigeria stores' Monthly Product Sold are Less than 100, there are 12.7K stores, which is 81.85% of total. In second place, 2.13K stores' Monthly Product Sold are 100 to 1K, which is 13.70% of total. Meanwhile, 453 stores' Monthly Product Sold are 1K to 10K, which is 2.92% of total. This breakdown reveals insights into Nigeria stores distribution, providing a comprehensive picture of the performance and efficient of online retailer.

The Nigerian food service market, encompassing diverse segments like cafes, restaurants (full-service and quick-service), and cloud kitchens, is experiencing robust growth. While precise market size figures for 2019-2024 are not provided, a logical estimation based on global trends and the projected CAGR suggests a substantial market value. The rising middle class, increasing urbanization, and a young, tech-savvy population are key drivers. The preference for convenience fuels the growth of quick-service restaurants (QSRs) and cloud kitchens, while the increasing popularity of international cuisines expands the full-service restaurant (FSR) sector. Growth is further fueled by the burgeoning tourism sector, impacting the food service offerings in leisure, lodging, and travel locations. However, challenges remain, including infrastructural limitations, fluctuating food prices, and competition from informal street food vendors. The market is segmented by food service type (cafes, QSRs, FSRs, cloud kitchens), cuisine (ranging from local delicacies to international options), outlet type (chained versus independent), and location (standalone, retail, leisure, etc.). This segmentation reveals dynamic market behavior with certain cuisines and outlet types showing higher growth than others. Furthermore, the influence of established players like Devyani International (Nigeria) Limited and others reflects the competitive landscape and ongoing investments in the sector. The forecast period (2025-2033) holds immense potential as the market continues to mature and adapt to evolving consumer preferences. The future trajectory of the Nigerian food service market hinges on several factors. Successful operators will need to adapt to changing consumer preferences, manage rising food costs effectively, and leverage technology for efficient operations and customer engagement. Investment in infrastructure, particularly reliable power and supply chains, will play a crucial role in overall market development. The expanding middle class's increasing disposable income will continue to fuel demand. The potential for significant growth is further enhanced by strategies focused on innovative menu offerings, improved service quality, and effective marketing campaigns targeting specific demographic segments. Furthermore, strategic partnerships and collaborations within the food service ecosystem could lead to accelerated growth and the emergence of new market leaders in the coming years. Government policies aimed at fostering a favorable business environment will be crucial to unlocking the full potential of this vibrant sector. Recent developments include: December 2022: Jumia Food, the leading online food delivery platform in Nigeria, partnered with Domino’s Pizza, a world-leading pizza brand, to offer consumers access to meals from the comfort of their homes. The partnership will provide a steady supply of Domino’s portfolio to consumers through the Jumia Food platform and ensure they receive their orders in a short time.April 2022: Sundry Foods Limited opened five new outlets in Lagos, Abuja, and Port Harcourt across the country. The new outlets include three brands: Kilimanjaro, Pizza Jungle, and Kiligrill.October 2021: Food Concepts, a leading quick service restaurant (QSR) operator in West Africa, opened its 200th store in the region. The fast-food chain operates stores across Nigeria and Ghana, trading under the Chicken Republic, PieXpress, and Chop Box brands.. Notable trends are: Increased tourist arrivals from Asia led to great exposure to diverse Asian cuisines.

The Nigerian cybersecurity market, valued at $207.80 million in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 10.70% from 2025 to 2033. This expansion is fueled by several key drivers. The increasing adoption of cloud technologies and digitalization across various sectors, including BFSI (Banking, Financial Services, and Insurance), retail, e-commerce, and government, creates a surge in demand for robust cybersecurity solutions. Furthermore, rising cyber threats and data breaches are compelling organizations to invest heavily in advanced security measures like application security, data security, and identity and access management (IAM). The market is segmented by offering (solutions and services), deployment (cloud and on-premise), and end-user industries. The solutions segment encompasses application security, cloud security, consumer security software, data security, IAM, infrastructure protection, integrated risk management, and network security equipment. Services include professional and managed services. Key players such as IBM, Microsoft, and several Nigerian cybersecurity firms are actively shaping the market landscape, contributing to its growth through innovative product offerings and service delivery. The significant growth potential stems from the expanding digital economy and government initiatives focused on enhancing cybersecurity infrastructure. The Nigerian cybersecurity market's growth trajectory reflects a global trend, but specific regional challenges also exist. Limited cybersecurity awareness among businesses and individuals, coupled with a shortage of skilled cybersecurity professionals, poses a restraint. However, government regulations aimed at improving data protection and increasing cybersecurity awareness are expected to mitigate these challenges and further propel market expansion. The increasing adoption of cloud-based security solutions, alongside a growing focus on proactive risk management, indicates a shift towards more comprehensive and preventative security strategies. This evolving landscape offers significant opportunities for established players and new entrants alike, particularly those focusing on specialized solutions catering to the unique needs of the Nigerian market. The forecast period (2025-2033) promises significant growth as organizations prioritize digital security in an increasingly interconnected world. Recent developments include: May 2024: The Lagos state government announced the inauguration of a Cybersecurity Operations Centre (CSOC). This move aimed to bolster digital safety and shield the state's critical infrastructure from cyber threats. The CSOC will actively monitor, detect, and swiftly counter cyber threats across the state. This initiative aligns with the state's goal of fortifying security and governance., January 2024: The American Business Council (ABC) inaugurated its cybersecurity hub with the primary goal of bolstering awareness and empowering Nigerians and other stakeholders to counter the escalating threat of cyber-attacks. ABC’s cybersecurity hub is pivotal in equipping both individuals and entities with the requisite expertise and resources to fight cyber threats.. Key drivers for this market are: Growth in Digital Transformation Across Sectors, Rapidly Increasing Cybersecurity Incidents. Potential restraints include: Growth in Digital Transformation Across Sectors, Rapidly Increasing Cybersecurity Incidents. Notable trends are: The Solutions Segment is Analyzed to Hold a Significant Market Share.

The Nigeria E-Commerce Market Report is Segmented by Business Model (B2C, B2B), Device Type (Smartphone / Mobile, Desktop and Laptop, Other Device Types), Payment Method (Credit / Debit Cards, Digital Wallets, BNPL, Other Payment Method), B2C Product Category (Beauty and Personal Care, Consumer Electronics, Fashion and Apparel, Food and Beverages, and More). The Market Forecasts are Provided in Terms of Value (USD).

Nigeria Third-Party Logistics (3PL) Market size was valued at USD 0.96 Billion in 2024 and is projected to reach USD 2.45 Billion by 2032, growing at a CAGR of 12.5% from 2025 to 2032.

Third-Party logistical (3PL) refers to the outsourcing of logistical services such as transportation, warehousing, inventory management, and order fulfillment to third-party vendors. Companies employ 3PL to optimize their supply chains and concentrate on core business operations while specialists manage logistics. 3PL services are widely employed in industries including e-commerce, manufacturing, and retail. Businesses cooperate with 3PL providers to strengthen distribution networks, save costs, and increase delivery efficiency. Companies that outsource logistics can increase operations and gain access to modern technology and resources without making significant infrastructure investments.

Nigeria ICT Market Report is Segmented by Type (Hardware, Software, IT Services, and Telecommunication Services), Size of Enterprise (Small and Medium Enterprises and Large Enterprises), and Industry Vertical (BFSI, IT and Telecom, Government, Retail and E-Commerce, Manufacturing, Energy and Utilities, and Other Industry Verticals). The Market Sizes and Forecasts are Provided in Value Terms (USD) for all the Above Segments.

The revenue is forecast to experience significant growth in all segments in 2030. This reflects the overall trend throughout the entire forecast period from 2020 to 2030. It is estimated that the revenue is continuously rising in all segments. In this regard, the Confectionery segment achieves the highest value of ****** billion U.S. dollars in 2030. Find further statistics on other topics such as a comparison of the volume in Russia and a comparison of the volume in Nigeria. The Statista Market Insights cover a broad range of additional markets.

Nigeria Oil & Gas Downstream Market size was valued at USD 18.2 Billion in 2024 and is projected to reach USD 29.4 Billion by 2032, growing at a CAGR of 6.2% from 2026-2032.

Nigeria Oil & Gas Downstream Market: Definition/ Overview

Oil & Gas Downstream refers to the final stage of the oil and gas value chain, where petroleum products are processed, distributed, and marketed. The downstream sector is responsible for processing crude oil and delivering refined goods to consumers and industries.

This chart offers an insightful look at the store count by category in Nigeria. Leading the way is Apparel, with 2.88K stores, which is 13.72% of the total stores in the region. Next is Business & Industrial, contributing 1.94K stores, or 9.23% of the region's total. Beauty & Fitness also has a notable presence, with 1.82K stores, making up 8.69% of the store count in Nigeria. This breakdown provides a clear picture of the diverse retail landscape in Nigeria, showcasing the variety and scale of stores across different categories.

Nigeria Data Center Rack Market size was valued at USD 308 Million in 2024 and is projected to reach USD 1634.69 Million by 2032, growing at a CAGR of 23% from 2026 to 2032. The Nigeria data center rack market is primarily driven by the rapid growth of digital transformation initiatives across industries, including banking, telecom, and government sectors. Increased internet penetration and the surge in data consumption are pushing demand for reliable IT infrastructure, including data center racks. Additionally, the expansion of cloud services, growing investments by hyperscale and colocation providers, and favorable government policies supporting data localization are boosting the market. Rising adoption of edge computing and IoT applications further accelerates the need for scalable and efficient rack solutions.

Market Size and Growth: The Nigerian cloud computing market is projected to grow at a substantial CAGR of 25.98% from 2025 to 2033, reaching a market size of USD 0.82 million by 2033. This growth is attributed to factors such as the increasing adoption of cloud-based services by businesses, the government's focus on digital transformation, and the proliferation of mobile devices. Major market drivers include the cost-effectiveness, scalability, and flexibility offered by cloud computing solutions. Segments and Market Trends: The Nigerian cloud computing market is segmented based on type (public, private, hybrid), organization size (SMEs, large enterprises), and end-user industries (manufacturing, retail, healthcare, BFSI, government, etc.). Public cloud services hold the largest market share due to their ease of deployment and cost-effectiveness. SMEs are expected to be the primary growth driver, while healthcare and BFSI sectors are anticipated to witness significant investments in cloud computing. Key market trends include the growing popularity of hybrid cloud models, adoption of cloud-native applications, and migration to hyperscale cloud providers such as Google LLC, Microsoft Corporation, and Amazon Web Services. Recent developments include: July 2024: Okra, a Nigerian fintech that recently secured USD 16.5 million in funding, is venturing into cloud infrastructure. With backing from TLcom, Okra aims to provide a budget-friendly and reliable alternative to international cloud giants such as AWS and Azure. This move comes at a crucial juncture, as local startups seek to rein in expenses due to surging inflation and elevated interest rates.May 2024: MTN Nigeria, a telecommunications and technology enabler, forged a strategic alliance with Microsoft. This partnership aims to deliver advanced data hosting solutions and Microsoft Business Licenses to small and medium enterprises. This move underscores MTN Nigeria's dedication to fast-tracking the digital transformation of businesses throughout the nation, harnessing its robust and reliable connectivity. Through this collaboration, customers secure access to a holistic suite of services on Microsoft's Azure Cloud platform, emphasizing flexibility, scalability, and security.. Key drivers for this market are: Robust Shift Towards Digital Transformation Across the Country, Data Privacy Concerns Are Driving Increased Adoption Of Public Cloud Services. Potential restraints include: Robust Shift Towards Digital Transformation Across the Country, Data Privacy Concerns Are Driving Increased Adoption Of Public Cloud Services. Notable trends are: Robust Shift Towards Digital Transformation is Driving the Market.