According to forecasts, Nigeria’s e-commerce sector would reach $14.92 billion in 2029 at a compound annual growth rate (CAGR) of 11.82%. A growing number of young people, smartphone use, and rising internet penetration have all contributed to the industry’s recent boom.
This prediction was made by Edenlife, the food retail division of a Nigerian home concierge firm, which opened its first outlet store in Oniru, Lagos State, marking a major step towards national expansion.
The e-commerce market in Nigeria is projected to reach approximately $8.53 billion by 2024, according to the company’s report. During the projected period of 2024–2029, it is anticipated to expand at a compound annual growth rate (CAGR) of 11.82%, reaching almost $14.92 billion by 2029 (Nigeria’s e-commerce).
In a statement, Nadayar Enegesi, Edenlife “E-commerce isexpected to continue its strong growth trajectory in Nigeria, presenting immense potentialfor e-commerce platforms like Edenlife to capitalise on the rising demand for convenient and affordable food options.
“This move demonstrates the company’s dedication to delivering its unique cooked meals directly to customers across the country.” Speaking at the inaugural event, Orafiri Adoki, Business Lead of Homemade, remarked that some aspects of Nigerian cuisine culture have yet to be completely explored. She remarked, “Nigeria has a rich gastronomic culture that has yet to be fully explored.
Nigeria’s e-commerce
So, with the debut of the Homemade outlet, we intend to introduce some of the meals Nigerians are accustomed to at home while also giving fresh and innovative ways to enjoy them.”
Source: vanguardngr.com
