The Nigerian Government says the country is yet to fully harness its inherent opportunities in the e-commerce value chain due to inadequate information and investment opportunities in the sector.
This is against the backdrop that the current e-commerce spending is estimated at about $13 billion per annum, and is projected to rise to about $75 billion in revenues per annum by 2025.
Speaking in Abuja at a stakeholder dialogue on e-Commerce and Digital Trade Policy For Nigeria, Minister of Industry, Trade and Investment, Richard Adebayo said the market outlook for Nigeria’s e-commerce shows that the number of online shoppers in the country, which was at 76.7 million in 2021, is expected to hit 122.5 million by 2025.
Represented by the Director, Commodities and Export Department, Suleman Audu, the minister said the country is currently working on strategy on e- commerce that will boost growth of the sector.
The Minister also highlighted the growing investment opportunities in the e-commerce value chain that is capable of contributing significantly to the country’s Gross Domestic Product adding that the sector has grown to 17% in 2020 from 14% in 2019.
He however, urged the stakeholders to brainstorm and come up with recommendations that will transform the nation’s e-commerce and digital trade policy ecosystem for the economic benefit of the country.
