Nigeria Mobile Money Market 2023 to Grow at a CAGR of 29.3% – Industry Analysis by IMARC Group

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The latest research study “Nigeria Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group offers a comprehensive analysis of the industry, which comprises insights on the Nigeria Mobile Money Market

Is the Nigeria mobile money market good for investment or future trend?

The Nigeria mobile money market is expected to exhibit a CAGR of 29.3% during 2023-2028.

What is mobile money?

Mobile money is a digital service that enables financial transactions via mobile devices, including smartphones and tablets. It includes several technologies, such as digital wallets, Unstructured Supplementary Service Data (USSD), Near-Field Communication (NFC), etc. These technologies facilitate secured and convenient payment solutions as compared to the traditional cash-based transaction methods. In Nigeria, the rising internet connectivity and the growing adoption of smartphones are currently driving the market for mobile money.

Impact of Covid-19: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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What is the drivers of change in trends for the fencing equipment market:

The growing need for mobile-based financial services due to the limited access to brick-and-mortar financial institutions, especially across the rural areas of Nigeria, is primarily propelling the demand for mobile money services. Furthermore, the rising consumer awareness towards various advantages of mobile money, such as lower transaction costs, ease of accessibility, 24/7 availability, etc., is also providing a thrust to the market.

Moreover, several financial institutions are also providing secured loan and insurance policies through mobile money platforms, which is acting as another growth-inducing factor. Furthermore, the growing integration of numerous e-commerce platforms with mobile money services for providing discounts, cashback, rewards, and so on during the purchase of goods, travel booking, bill payments, and so on, is expected to drive mobile money demand in Nigeria over the forecasted period.

Nigeria Mobile Money Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Cellulant Nigeria Limited, Ecobank Nigeria Limited (Ecobank Transnational Incorporated), Funds and Electronic Transfer Solutions Ltd, Fortis Mobile Money Limited, Guaranty Trust Bank Plc, Pagatech Limited, Pocket Moni, ReadyCash, Teasy International Company Limited, and VTNetwork Limited.

The report has segmented the market on the basis on region, product and distribution channel.

Breakup by Product:

Hemp Protein Powder

Hemp Seed Oil

Hemp Seeds


Breakup by Distribution Channel:

Supermarkets and Hypermarkets

Convenience Stores

Online Stores


Breakup by Region:

North America: (United States, Canada)

Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)

Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)

Latin America: (Brazil, Mexico, Others)Middle East and Africa

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure:

If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.

Key highlights of the report:

Market Performance (2017-2022)

Market Outlook (2023- 2028)

Porter’s Five Forces Analysis

Market Drivers and Success Factors

SWOT Analysis

Value Chain

Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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