The Fast Growing E&M Market of Nigeria

This report predicts that Nigeria's e-commerce market will be the fastest-growing in the world in the next five years, with a compound annual growth rate of 25.5%. The report attributes this growth to factors such as an expanding middle class, increasing smartphone penetration, and a growing youth population. Additionally, the report suggests that e-commerce companies in Nigeria should focus on improving the customer experience, enhancing logistics and supply chain capabilities, and investing in digital marketing to drive growth.

Key Takeaways:

1. Fastest Growing E&M Market: Nigeria's strong E&M market growth presents significant opportunities for local and international businesses in the entertainment, media, and technology sectors.

2. Internet Access as a Key Driver: The growth of Internet access revenue highlights the importance of investing in digital infrastructure and expanding Internet coverage in Nigeria.

3. Advertising Potential: The projected growth in Internet advertising signifies the potential for businesses to tap into Nigeria's expanding digital audience to increase brand visibility and customer engagement.

Key Figures: 

1. Projected CAGR for Nigeria's E&M market: Nigeria's E&M market is expected to grow at a compound annual growth rate (CAGR) of 12.1% from 2017 to 2021.
2. Global average CAGR for E&M markets: The global average CAGR for E&M markets during the same period is 4.2%.
3. CAGR for Internet access revenue in Nigeria: Internet access revenue in Nigeria is projected to grow at a CAGR of 16.2% from 2017 to 2021.
4. CAGR for Internet advertising in Nigeria: Nigeria's Internet advertising market is anticipated to grow at a CAGR of 12.9% during the forecast period.

These figures emphasize the rapid growth of Nigeria's E&M market, driven mainly by Internet access and advertising revenues.

‍