Nigeria payment methods, processors, and ecommerce market

Nigeria: Effortless Transactions for Nigeria’s eCommerce Market

Nigeria is Africa’s top eCommerce hub, with over 100M internet users. dLocal provides local payment options like credit cards, digital wallets, and bank transfers, ensuring fast, compliant transactions to support eCommerce growth across Nigeria.

dLocal's Coverage in Africa and the Middle East

Demerge Nigeria Limited is a limited company incorporated in Nigeria and licensed by the Central Bank of Nigeria as a Payment Solution Service Provider

Market Overview

eCommerce market revenue is expected to grow at a rate of 10.81% per year (CAGR 2023-2027)* * Source: Statista, 2023

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Population: 236.74 M *

Approximately 17% of Nigerians own credit cards.

* Source: Worldometers 2024.
eCommerce: 19.6B *

Nigeria is expected to achieve $10,030.00 million in eCommerce market value by 2027*

* Source: researchandmarkets, 2024
Internet users: 55.4% *

Smartphone penetration is at 56% among Nigerians, this is why payment methods such as mobile money are important.

* Source: datareportal, beginning of 2024.

Gain insight into Nigeria's most relevant payment methods

22% Bank Transfer
16% Internationally-enabled credit card
15% Cash payments
15% Mobile money
14% Debit Cards
14% eWallets
7% Cash on Delivery
2% Domestic only credit card
2% Buy Now Pay Later

Most commonly used options

OPay
Omnichannel
Paga
Cash-based payments
Verve
Credit and debit cards

Credit and debit cards

Play like a local by offering traditional payment methods.
- Visa
- Mastercard
- Verve
Wallets
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Tackle all audiences.
- OPay
- Paga
Bank Transfers
Learn more

Count on a wide variety of options to drive conversion.
- Zenith
- GT Bank
- Unity Bank
- First Bank
- Sterling Bank
- Providus Bank
- Access
- Okra
- Regular Bank Transfers
- Mono Direct Debit

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