E-commerce spending in Nigeria estimated at $13b per annum – Trade Ministry
The ministry of industry and trade and investment has revealed that the current e-commerce spending in Nigeria is estimated at about $13 billion per annum and projected to rise to $75 billion in revenues by 2025.
Dr. Evelyn Ngige, permanent secretary in the ministry disclosed this at the second national e-commerce roundtable organized by the ministry with the theme “E-commerce in post COVID-19 Economy, Potential Change in Business Process Outlook and shifting Domestic and Global Policies on Commodity Trade”.
The Thrust of the roundtable was the development of non-oil sector to generate employment and sustainable revenue earnings
In a keynote address Dr. Ngige represented by Dr. Suleiman Audu, Director commodities and exports department of the ministry said e-commerce had grown from 14% in 2019 to 17% in 2020.
According to her, the ministry was passionate about the growing investment opportunities in the e-commerce value chain which are capable of contributing significantly to the country’s Gross Domestic Product (GDP).
She noted that e-commerce provides an alternative to sustain businesses and preserve millions of jobs in the face of COVID-19 challenges.
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