The ministry of industry, trade and investment said current e-commerce spending in Nigeria is estimated at about $13 billion per annum and projected to rise to $75 billion in revenues by 2025.
Dr. Evelyn Ngige, permanent secretary in the ministry, made this known at the second national e-commerce roundtable organised by the ministry.
Dr. Ngige, represented by Mr Suleiman Audu, director, commodities and export department (CED) of the ministry, said e-commerce had grown from 14 per cent in 2019 to 17 per cent in 2020.
According to her, “Interestingly, e-commerce provides an alternative to sustain businesses and preserve millions of jobs in the face of COVID-19 challenge,”
She also enjoined all to be forthcoming with ideas to guide policy makers, regulators and key players in the e-commerce ecosystem.
This to enable them to provide required enabling environment and incentives in line with global best practices for business to thrive in Nigeria.
Retired Col. Hameed Ali, Comptroller General of Nigeria Customs Service (NCS), said the e-commerce market had been thriving and collaboration was important to enhance the sector.
Ali, represented by Mr David Anikoh, Deputy Superintendent, NCS, said that the service had been collaborating with the ministry of industry, trade and investment.
He said it was also collaborating with the World Trade Organisation (WTO) on standards to improve e-commerce market in Nigeria, especially in areas of data collection and African Continental Free Trade Area.