Nigerians spends $13bn on e-commerce yearly — FG | Dailytrust

Nigerians spends $13bn on e-commerce yearly — FG

Dr Evelyn Ngige
Dr Evelyn Ngige

The federal government had said that e-commerce spending in Nigeria is estimated at $13 billion annually.

The Permanent Secretary in the Federal Ministry of Industry, Trade and Investment, Dr Evelyn Ngige, said this in Abuja at the Second National E-commerce Roundtable Session in Nigeria.

She said e-commerce is projected to rise to about $75 billion in revenue per annum by 2025.

The permanent secretary, represented by the Director, Commodities and Export Department in the Ministry, Mr Suleiman Audu, said e-commerce has grown from 14% in 2019 to 17% in 2020, adding that the COVID-19 pandemic has turned global attention to the importance of e-commerce in the conduct of businesses.

“The demand for electronic transactions has attracted payment facilitators from Europe and Asia, who are now investing in Nigerian electronic infrastructure projects,” she said.

Audu, called on stakeholders to support the government’s efforts to develop the economy, reduce over-dependence on the oil sector by focusing on the development of the non-oil commodity sector to enhance productivity, create jobs and ensure sustainability in revenue generation.

Audu, represented by Mr Kaura Irimiya, Deputy Director, CED, said one of the thriving and promising markets globally is the e-commerce market, with estimated global sales of over $29 trillion.

He lamented that in spite of the growing opportunities in e-commerce, Nigeria has not been able to explore its enormous potential.

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
Media Trust Ltd

Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Whatsapp: +234 806 990 3410