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Nigeria recorded N2tr e-commerce trade in 2020

Nigeria recorded a $5 billion (N2.075 trillion) transaction on the e-commerce platform in 2020, said the Executive Director/Chief Executive Officer, Nigerian Export Promotion Council (NEPC),…

Nigeria recorded a $5 billion (N2.075 trillion) transaction on the e-commerce platform in 2020, said the Executive Director/Chief Executive Officer, Nigerian Export Promotion Council (NEPC), Dr Ezra Yakusak.

He revealed this Wednesday in Abuja while unveiling an e-commerce platform, “Agogo Africa”.

Yakusak noted that sectors such as apparel, garment, arts and craft, cosmetics and the beauty industry contributed most to the Gross Domestic Product (GDP).

He said: “Available statistics from ecommercedb.com indicates that e-commerce transactions in 2020 was over $5bn.

“Presently, Nigeria is ranked 35th largest market for e-commerce globally and records a yearly growth of 42 per cent. Also 26% of Nigerians bought products online as of 2020. It is equally on record that fashion including textile and footwear sub-sector remains the second largest contributor to Nigeria’s GDP after food, beverages and tobacco (Statista.2022),” he said.

Yakusak added that the launch of the Agogo Africa platform was a step in the right direction as it will not only expose the fashion and textile industry to the global market but also provide an opportunity for the industry to source the raw materials the fashion industry players need in their production processes.

CEO of Agogo Africa, Mr Lexy Mojo-Eyes, said the platform commenced in 2014 with operations in few countries, adding that as at 2022 the platform was functional in 42 countries.