Statista forecast $6.710m revenue for Nigeria’s eCommerce in 2023

Revenue in Nigeria’s eCommerce market is projected to reach $6,710.00 million by December 2023, a new report by Statista has said.

In its eCommerce in Nigeria report, the data company stated that revenue is expected to show an annual growth rate (CAGR 2023-2027) of 10.79 per cent, resulting in a projected market volume of $10,110.00 million by 2027.

With a projected market volume of $1.319 billion in 2023, the report noted that most revenue will be generated in China.

“In the eCommerce market, the number of users is expected to amount to 143.9m users by 2027.

“User penetration will be 45.3% in 2023 and is expected to hit 58.6% by 2027.

“The average revenue per user (ARPU) is expected to amount to $66.23, the report said.