The hydra-headed challenges of poor logistics and infrastructure gaps have been identified as major factors that limited the development of electronic commerce (eCommerce) in Nigeria in 2019. The current e-Commerce spending in Nigeria is estimated at $12 billion and is projected to reach $75 billion in revenues yearly by 2025. According to an ICT expert, Tade Adelegan, the future of e-commerce in Nigeria is still very bright despite the challenges recently noticed in the industry. “It is said that companies like OLX, DealDey, Efiritin, and few others shut down their businesses in Nigeria claiming non-profitability. Nigeria’s e-commerce market was recently valued at N225 billion or $1.3 billion due to the 25 per cent in e-commerce growth.

Source: The Guardian January 01, 2020 03:45 UTC