Fintech to Boost Nigeria's GDP by N8.52 Trillion by 2026, EnterpriseNGR Report Reveals

A recent report by EnterpriseNGR forecasts that fintech will add N8.52 trillion to Nigeria's GDP by 2026, driven by a surge in digital transactions. The sector is expected to witness robust growth in areas such as digital payments, lending, wealth management, and insurance, leveraging innovations like CBN's open banking guidelines.

Major players like Flutterwave, Mono, and Paystack are engaging in mergers and acquisitions to enhance their market presence. Regulatory coordination from institutions like CBN and SEC is crucial to supporting sustained growth, particularly in capital markets and SME financing.

Industry experts like Obi Ibekwe emphasize the pivotal role of financial professional services in mobilizing capital, managing risks, and providing advisory support to drive economic growth. Olayinka Oyetunji from Ey Parthenon stresses the importance of financial intermediaries in translating opportunities into tangible outcomes.

The report underscores the need for policymakers, investors, and private sector leaders to maintain reform momentum, strengthen institutions, and focus on long-term value creation in Nigeria's financial ecosystem.