| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 32.83 Billion |
| Market Size (2030) | USD 76.14 Billion |
| CAGR (2025 - 2030) | 18.32% |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Nigeria ICT Market Analysis
The Nigeria ICT Market size is estimated at USD 32.83 billion in 2025, and is expected to reach USD 76.14 billion by 2030, at a CAGR of 18.32% during the forecast period (2025-2030).
- The Nigerian information and communications technology (ICT) market is thriving, primarily fuelled by rising internet penetration and mobile phone usage. Given its large and predominantly young population, Nigeria has experienced a notable uptick in both mobile and internet usage. This surge has, in turn, bolstered the demand for ICT services and products. Moreover, the ongoing expansion of 4G networks, coupled with the imminent introduction of 5G technology, is significantly amplifying connectivity, thereby propelling the digital services industry.
- Government initiatives and policies play a substantial influence in Nigeria's tech landscape. The government has rolled out diverse programs, focusing on enhancing digital literacy, bolstering tech startups, and upgrading ICT infrastructure. Notably, initiatives such as the National Digital Economy Policy and Strategy (NDEPS) underscore a clear goal: propelling economic diversification via ICT.
- Also, the surge in fintech and e-commerce is driving demand for ICT services. Nigeria's fintech industry is witnessing rapid growth, particularly in mobile banking, digital payments, and blockchain. Concurrently, the expanding e-commerce landscape underscores the necessity for robust ICT infrastructure and services.
- Foreign investments and partnerships play a pivotal role in the Nigerian ICT market. International tech firms and investors are increasingly injecting capital, expertise, and technology, thus catalyzing market expansion. Furthermore, a rapidly growing tech startup ecosystem is fuelling innovation and entrepreneurship, bolstering the already dynamic ICT market. Key initiatives, such as tech hubs and incubators, play a pivotal role in nurturing startups, thereby accelerating technological progress.
- In January 2024, Anambra state's government announced a collaboration with several high-tech companies based in the United States. They stated their goal as identifying opportunities for strategic partnerships, corporate alliances, technology collaborations, and innovation. The vision is to elevate Anambra as Nigeria's digital and creative hub, establish it as Africa's Silicon Valley - the Solution Innovation District, and integrate technology across all facets of life.
- In July 2024, Shell Petroleum Development Company Limited (SPDC), along with its joint venture partners, Nigerian National Petroleum Company Limited (NNPC), TotalEnergies, and Nigeria Agip Oil Company, inaugurated an advanced ICT center at Sa'adu Zungur University (formerly Bauchi State University) in Gadau, Bauchi State. This initiative marked a significant stride in bolstering education in Nigeria.
- However, the Nigerian ICT market’s growth is hampered by inadequate infrastructure, unreliable power supply, regulatory hurdles, and a lack of financing for startups. Cybersecurity threats, high operational costs, and low digital literacy rates in the population compound these challenges.
Nigeria ICT Market Trends
Increasing Demand for Digitalization and Scalable IT Infrastructure
- The ICT market in Nigeria is witnessing significant growth, propelled by the country's increasing demand for digitization and scalable IT infrastructure. This demand is fuelled by a variety of factors, including enhanced business operations, the rise of remote work and education, a flourishing fintech and e-commerce landscape, supportive government policies, and improved internet connectivity. Furthermore, the ongoing expansion from 4G to 5G networks is bolstering internet connectivity, paving the way for more robust digital services and applications.
- Businesses in Nigeria are swiftly embracing digital technologies to boost efficiency, elevate customer experiences, and secure a competitive edge. This digital pivot necessitates a sturdy IT infrastructure capable of accommodating cloud computing, data analytics, and enterprise resource planning (ERP) systems. As a result, the demand for ICT solutions offering these features is on the rise.
- The surge in remote work and online education, catalyzed by the COVID-19 pandemic, underscores the urgency for robust digital platforms and scalable IT infrastructure. Businesses and educational bodies are channeling investments into ICT, guaranteeing smooth remote operations. This surge in demand is notably boosting the markets for networking equipment, cybersecurity solutions, and cloud services.
- Nigeria's growing fintech and e-commerce industries heavily depend on scalable IT infrastructure to handle their increasing transaction volumes and user data. Consequently, this surge has led to heightened investments in data centers, cloud services, and advanced IT solutions, propelling the growth of the ICT market.
- In July 2024, Huawei, a global technology giant, and TD Africa, a distributor of advanced tech solutions in Nigeria, bolstered their collaboration to spearhead digital transformation across Africa. Unveiled at Huawei Connect 2024 in Lagos, the partnership aims to equip businesses and individuals across the continent with advanced solutions and technologies.
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IT and Telecom Segment Registering Significant Market Growth
- In the Nigerian ICT market, the IT and telecom segment’s growth is a key catalyst for market growth. The telecom industry’s swift expansion is bolstering nationwide connectivity. With the introduction of 4G networks and the imminent adoption of 5G technology, internet access is becoming faster and more reliable. This enhanced connectivity is pivotal for bolstering a range of ICT services and applications. Furthermore, it is paving the way for increased adoption of cloud computing, IoT, and other advanced digital technologies, thereby fuelling the demand for ICT solutions.
- In March 2024, MTN Nigeria, a major player in the telecommunications industry, allocated over USD 120 million for extending its 5G network across Nigeria. The revelation came from the company's CFO Modupe Kadri, who was interviewed by Nairametrics.
- In Nigeria, the IT industry’s expansion, marked by a surge in tech startups and increased tech investments, is a driving force behind the country's ICT market. These startups, specializing in fintech, e-commerce, health tech, and edtech, rely heavily on a solid ICT backbone to create and launch their applications. Consequently, there has been a growing demand for advanced software, cybersecurity, and data management solutions.
- Government initiatives designed to bolster the digital economy and enhance ICT infrastructure are pivotal in driving this growth. By promoting digital literacy, e-government services, and technological innovation, these policies and programs foster an environment conducive to the flourishing of both the IT and telecom industries, thereby indirectly propelling the ICT market.
- In January 2024, the Anambra state government announced that it was spearheading a technology collaboration with 26 prominent US firms featuring tech giants like Google, Meta, Amazon Web Services, and Dell. Additionally, the collaboration includes industry leaders like VISA, Microsoft, and Coca-Cola. This strategic collaboration is poised to not only expedite the state's technological progress but also holds the potential to enhance technological exchanges and drive economic growth. Such advancements stand to benefit not just Anambra state's tech industry but also companies across Nigeria and the United States.
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Nigeria ICT Industry Overview
The Nigerian ICT market faces intense competition driven by a multitude of both small and large players. Key players, including Microsoft Corporation, Oracle Corporation, Google LLC, Cognizant, and HCL Technologies, are driving moderate concentration in the market. They are strategically focusing on product and service innovation, alongside mergers and acquisitions, to bolster their competitive edge and expand their market footprint.
- May 2024: Nigeria's National Information Technology Development Agency (NITDA) signed an MoU with Cisco, centering on AI and smart agriculture. Both entities underscore that their collaboration seeks to harness digitalization's potential in Nigeria, steering the nation toward a more inclusive future. This collaboration will focus on launching pilot projects in crucial sectors. These include transforming the National Centre for Artificial Intelligence and Robotics (NCAIR) into an AI and cybersecurity hub, emphasizing both experience and incubation.
- November 2023: Havilla University (HUNI), a privately-owned institution in Nde-Ikom, Cross River State, Nigeria, forged a partnership with New Horizons, an IT training company. The collaboration aims to enhance the school's ICT programs.
Nigeria ICT Market Leaders
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Microsoft Corporation
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Oracle Corporation
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Google
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Cognizant
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HCL Technologies
- *Disclaimer: Major Players sorted in no particular order
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Nigeria ICT Market News
- July 2024: The United States and Nigeria signed a memorandum of understanding focusing on bolstering data security and fostering innovation in artificial intelligence (AI). The US Secretary of Commerce and the Nigerian Minister of Communications, Innovation, and Digital Economy, Olatunbosun Tijani, jointly emphasized their commitment to fostering the digital economy, bolstering innovation, and enhancing digital trade and investment ties between the two countries.
- February 2024: The states of Anambra and Lagos partnered to bolster their individual IT ecosystems through collaboration. The partnership emerged following bilateral discussions with members of the IT ecosystem during the Reverse Trade Mission in the United States. The Anambra-Lagos partnership aims to bolster cybersecurity collaboration, safeguard IT assets, enhance cyber protection measures, and broaden IT service platforms. Both parties will adopt new cybersecurity methods to strengthen their IT infrastructure. They will also develop strategies to understand and combat the changing cyber threat landscape.
Nigeria ICT Industry Segmentation
The ICT market includes manufacturing and service enterprises. Its products mainly focus on information processing and electronic communication, covering transmission and display. This market is crucial for spearheading technological progress, elevating productivity, and improving overall output.
The Nigerian ICT market is segmented by type (hardware, software, IT services, and telecommunication services), size of the enterprise (small and medium enterprises and large enterprises), and industry vertical (BFSI, IT, and telecom, government, retail and e-commerce, manufacturing, energy and utilities, and other industry verticals). The market sizes and forecasts are provided in value terms (USD) for all the above segments.
| By Type | Hardware |
| Software | |
| IT Services | |
| Telecommunication Services | |
| By Size of Enterprise | Small and Medium Enterprises |
| Large Enterprises | |
| By Industry Vertical | BFSI |
| IT and Telecom | |
| Government | |
| Retail and E-commerce | |
| Manufacturing | |
| Energy and Utilities | |
| Other Industry Verticals |
By Type
| Hardware |
| Software |
| IT Services |
| Telecommunication Services |
By Size of Enterprise
| Small and Medium Enterprises |
| Large Enterprises |
By Industry Vertical
| BFSI |
| IT and Telecom |
| Government |
| Retail and E-commerce |
| Manufacturing |
| Energy and Utilities |
| Other Industry Verticals |
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Nigeria ICT Market Research Faqs
How big is the Nigeria ICT Market?
The Nigeria ICT Market size is expected to reach USD 32.83 billion in 2025 and grow at a CAGR of 18.32% to reach USD 76.14 billion by 2030.
What is the current Nigeria ICT Market size?
In 2025, the Nigeria ICT Market size is expected to reach USD 32.83 billion.
Who are the key players in Nigeria ICT Market?
Microsoft Corporation, Oracle Corporation, Google, Cognizant and HCL Technologies are the major companies operating in the Nigeria ICT Market.
What years does this Nigeria ICT Market cover, and what was the market size in 2024?
In 2024, the Nigeria ICT Market size was estimated at USD 26.82 billion. The report covers the Nigeria ICT Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Nigeria ICT Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Nigeria ICT Industry Report
Statistics for the 2025 Nigeria ICT market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nigeria ICT analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
