Nigeria Gift Card Market Intelligence

The gift card industry in the country is expected to grow by 12.8% on annual basis to reach US$ 1,835.7 million in 2023. In value terms, the gift card market in Nigeria has recorded a CAGR of 11.3% during 2018-2022.

The gift card industry in Nigeria will continue to grow over the forecast period and is expected to record a CAGR of 11.0% during 2023-2027. The gift card market in the country will increase from US$ 1,628.0 million in 2022 to reach US$ 2,789.0 million by 2027.

The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth.