Nigeria: popularity of mobile money accounts 2024

In 2024, roughly eight percent of the population between 16 and 64 were using mobile payment services. This was an decrease from the previous year. Moreover, between 2019 and 2022, the share of the population reporting to use mobile money accounts in Nigeria remained stable. Indeed, this value stood at 5.6 percent in all four years under consideration. This figure refers to services that store money in an electronic wallet connected to a phone number and excludes mobile payment services such as Apple Pay, Google Pay, or Samsung Pay.
Mobile money allows you to receive, store, and spend money using a mobile phone. Mobile money systems use agents and people at key locations throughout the country, including remote rural areas, to make a deposit or get cash. Mobile money is creating employment as a large number of people are becoming mobile money agents.

Share of population reporting to use mobile money accounts in Nigeria from 2019 to 2024

Characteristic	Share of population
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Release date

February 2024

More information

Region

Nigeria

Survey time period

2019 to 2024

Age group

15 years and older

Supplementary notes

Data earlier than 2022 were taken from previous publications.
Data for mobile money refer to services that store funds in an electronic wallet linked directly to a phone number, such as M-Pesa, GCash, and Tigo Pesa. They do not include people who use "over-the-top"mobile payment services such as Apple Pay, Google Pay, or Samsung Pay.

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