Nigerian SMEs prioritize digitization and digital payments for growth

Small and medium-sized enterprises (SMEs) in Nigeria are increasingly prioritizing business digitization to drive growth. According to Mastercard’s June 2026 SME Confidence Index, 81% of Nigerian SMEs expressed confidence regarding the upcoming year, with 78% identifying digitization as a primary growth priority and 73% viewing the acceptance of digital payments across multiple channels as a significant opportunity.

Data from DataReportal’s Digital 2026 Nigeria report indicates a substantial digital landscape, with approximately 109 million internet users and 47.8 million social media user identities recorded at the end of 2025. This digital environment presents both opportunities and increased competition for consumer attention. To navigate this, experts suggest SMEs implement customer-acquisition systems that bridge the gap between attention and trust, such as utilizing referral marketing to turn existing customers into a source of high-intent leads.