Nigeria to up investments to reach US$75 bln e-commerce revenues by 2025

By : Muriel Edjo

Date : vendredi, 02 septembre 2022 11:09

Although not yet popular, online shopping is gradually getting into people’s habits in Africa, thanks notably to the Covid-19 pandemic. The sector is attracting a growing volume of state investments since it is perceived as an opportunity to reach foreign markets.  

Nigeria wants to improve national e-commerce revenues to US$75 billion by 2025, up from US$13 billion currently. During a stakeholder dialogue on e-commerce and digital trade policy last weekend,  Suleman Audu, Nigerian Ministry of Industry’s Director of Commodities, indicated that the government was already making the required investments to achieve the goal. 

The Federal Government is [...] committed to developing an e-commerce strategy in line with the Federal Government’s Post COVID-19 recovery plan, to encourage investment in the e-commerce value chain,” he said.

He also admitted that “Nigeria is yet to fully harness the inherent opportunities in the e-commerce value chain, largely due to inadequate investment, coupled with inadequate information on the opportunities in the sector and the inability of Government to provide the required enabling environment.”

By increasing e-commerce revenues, the country wants to reduce oil dependence in line with economic diversification calls from the UNECA and the World Bank. According to the UNCTAD 2020 B2C e-commerce index, Nigeria was the eighth best e-commerce market in Africa and the 94th globally. 

Muriel Edjo


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