E-Commerce opportunities in Nigeria

1. E-commerce
Digital Space opportunity
Olaolu Onibonoje

2. ICT industry currently contributes 2.56 % value added to the Nigeria
economy.

4. MARKET SITUATION- Nigeria
• Nigeria population is currently 178.5 million people and growing at 3% annually(2014)
• GDP is currently $568.5 million and a projected growth of 6% annually till 2020(2014)
• Mobile cellular subscription is 73% growing at an average of 12% annually(2014)
• Internet penetration is 38% growing annually at an average of 19%(2014)
• Smartphone penetration has reach 30%(2014)

6. OPPORTUNITIES
• E-commerce, the internet and digital space is yet untapped and has overwhelming potential as the
proverbial gold mine of the future
• E-commerce has attracted $200 million foreign investment and created over 12,000 jobs since 2012

7. RETAIL

8. OPPORTUNITIES
Retail
• Globally, retail trade accounts for 27 percent of the world’s Gross Domestic Product (GDP), employing 17
percent of global workforce.
• Nigeria’s online sales grew 25 percent in 2011 to N62.4 billion, up from N49.9 billion in 2010,Expectations
are that the figure would double by 2014.
• Average Retail online spend per capita will grow N2,100 (2015 approx.) to N3,800 (approx. 2020)
• E-commerce currently has a potential of $10 million and about 300,000 orders daily

10. BANKING

11. OPPORTUNITIES
Banking
• E-transaction recorded 50% growth and value by 28% growth 2013-2014
• 100 million transactions with N40trillion volume
ICT Industry
• ICT industry currently contributes 2.56 value added to the Nigeria economy
African thought leadership
• Internet could contribute $300billion to Africa’s GDP by 2025 from $18 billion in 2013

13. Current e-commerce online store
There over a 100 onlines store in Nigeria
Top 10 are :
• Jumia
• Konga
• Slot
• Parktel
• Kara.com
• Dealdey
• Kaymu
• Mystore
• Taafoo
• Buyright

14. Thanks you

15. Reference
• www.worldbank.org
• Ciafactbook.com
• http://nigerianfinder.com/best-online-shopping-sites-in-nigeria