E-commerceDigital Space opportunity

Olaolu Onibonoje

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

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)

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

RETAIL

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

BANKING

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

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

Thanks you

Reference

• www.worldbank.org

• Ciafactbook.com

• http://nigerianfinder.com/best-online-shopping-sites-in-nigeria