e-Commerce 20% Contribution to Nigeria’s GDP Possible–Jumia CEO

Mr. Nicola Martin, co-chief executive officer of Jumia Nigeria recently featured on Channels TV's Business morning show discussing on the topic: ‘Ecommerce as next driver of Nigeria’s Economic Growth’ where he spoke about Ecommerce space as a whole since its evolution in Nigeria with the launch of Jumia in 2012.

He revealed that Ecommerce is more relevant in Nigeria than in other parts of the world because of the enormous benefits the country possesses as Africa’s largest economy.

Martin also further discussed the worth of the retail market in Nigeria and how Ecommerce in big countries like India, China are contributing 5% - 10% GDP.

In the case of Nigeria, e-commerce will soon be contributing up to 20% to the countries’ GDP in terms of Growth level.

In Addition, he explained how Ecommerce has grown with companies such as Jumia seeing growth rate up to 10 times every year.

Also mentioned was lack of infrastructure could be an enabler for start-ups in Nigeria to structure their business.

He said that a growing number of online players are good for the Ecommerce industry because it helps the industry to grow and they help educate Nigerians about the convenience of Online shopping.