E-commerce, ride-hailing lead as Nigeria’s gig economy hits $5.17bn

Nigeria’s gig economy has grown to an estimated $5.17 billion, with ride-hailing platforms playing a pivotal role in expanding access to flexible income opportunities across the country, according to a new report commissioned by Bolt and conducted by Ipsos. The report was unveiled in Lagos on Tuesday. Daily Trust reports that the Nigerian gig economy […]

Nigeria’s gig economy has grown to an estimated $5.17 billion, with ride-hailing platforms playing a pivotal role in expanding access to flexible income opportunities across the country, according to a new report commissioned by Bolt and conducted by Ipsos.

The report was unveiled in Lagos on Tuesday.

Daily Trust reports that the Nigerian gig economy is rapidly growing, driven by mobile and web-based platforms offering short-term or freelance tasks.

It includes ride-hailing services (Bolt, Uber, InDrive), delivery apps (Glovo, Jumia Food), and freelance marketplaces (Upwork, Fiverr, etc.), among others.

The study conducted across Kenya, Nigeria, and South Africa indicates that ride-hailing ranks second to E-commerce as a key livelihood pathway in Africa’s gig economy.

According to the report, in Nigeria specifically, e-commerce tops in the gig economy with 38%, followed by ride-hailing, accounting for 24% of the economy.

The gig economy refers to income-earning activities conducted outside traditional, long-term employment relationships.

As of 2024, the report shows that about three million Nigerians were engaged within the gig economy.

According to the report, with over 92% of employed Nigerians operating outside formal wage structures, gig work is increasingly emerging as a practical solution for income generation, particularly in periods of economic uncertainty.

It further shows that among various gig economy segments, ride-hailing accounts for 24% of participation, positioning it as one of the most accessible entry points for Nigerians seeking flexible work arrangements.

According to the report, 59% of ride-hailing participants remain active on platforms for more than one year, indicating sustained reliance on the sector for income.

“Across Africa, ride-hailing is evolving beyond mobility into a multi-dimensional economic platform—absorbing informal workers, accelerating digital and financial inclusion, and scaling new income opportunities across urban markets.

“Nigeria’s ride-hailing space has witnessed key developments across regulation, technology, and platform innovation — strengthening operational resilience, improving driver welfare, and expanding inclusion within the urban transport economy,” the report stated.

Commenting on the report, Senior General Manager, West Africa at Bolt, Teddy Appa-Dankyi, said flexible earning opportunities are becoming central to how many Nigerians earn a living.

“This report shows that ride-hailing is not just about mobility; it is helping people diversify income, manage financial uncertainty, and participate more actively in the digital economy,” he said.

Head of Regulatory and Policy, Africa at Bolt, Weyinmi Aghadiuno, said the findings present an opportunity for collaboration among policymakers and private sector players.

“As flexible earning opportunities become more common across Africa, there is an opportunity for policymakers, platforms and stakeholders to work together to ensure the gig economy continues to expand access to opportunity while remaining sustainable and inclusive,” she said.