Nigeria fintech sector attracts $5 billion in US investment

Nigeria is emerging as a major hub for digital finance in Africa, driven by a robust fintech ecosystem and increasing international investment. Between 2015 and 2025, American investors injected approximately $5 billion into the Nigerian technology sector. The country currently hosts 430 fintech companies, accounting for 30% of the sector in Africa. Notable success stories such as Flutterwave and Paystack have expanded their influence across the continent.

To further bolster this growth, GITEX Nigeria has announced the launch of MINT AFRICA. This new platform, developed in partnership with the Lagos State Government, aims to connect capital, technology, regulation, and innovation. It is scheduled to debut during GITEX NIGERIA Week 2027 and will focus on emerging technologies including artificial intelligence, digital identity, stablecoins, and tokenized assets.

While Nigeria has seen adult account ownership rise from 45.3% in 2021 to 63.3% in 2024, a gap remains in meaningful financial access, as only 9.1% of Nigerians currently borrow through formal financial channels. The digital payments economy in Africa is projected to reach $1.5 trillion by 2030.