Nigeria's Gig Economy Reaches $5.17 Billion Mark

According to a report commissioned by Bolt and conducted by Ipsos, 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. The study, unveiled in Lagos on Tuesday, indicates that ride-hailing ranks as the second-largest e-commerce sector in Nigeria, contributing to 24% of the gig economy, which is primarily driven by three million Nigerians engaged in gig work.

The report highlights that 92% of Nigerian workers operate outside the formal wage structure, with gig work emerging as a practical solution for income generation, especially during periods of economic uncertainty. Teddi Appa Dankyi, Senior General Manager for West Africa at Bolt, noted that flexible earning opportunities have become central to the livelihoods of Nigerians.

The report also points out significant gender imbalances within the sector, with women accounting for only 3% of ride-hailing participants, indicating untapped potential for broader inclusion in the gig economy.