Nigeria's Gig Economy Surges to $5.17 Billion, Ride-Hailing Fuels Flexible Incomes

The Nigerian gig economy is booming, reaching an impressive $5.17 billion, according to a new report commissioned by Bolt and conducted by Ipsos. This growth is largely fueled by ride-hailing platforms, which have become a crucial avenue for Nigerians seeking flexible income opportunities amidst economic challenges.

With over 92 percent of employed Nigerians working in the informal sector, the report underscores the vital role of these digital platforms in bridging income gaps. Ride-hailing alone constitutes 24 percent of gig economy participation, making it an accessible entry point for many. Contrary to the notion that gig work is merely temporary, the findings reveal sustained engagement, with nearly 59 percent of ride-hailing workers active for over a year, indicating its reliability as an income source.

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Flexible earning opportunities are becoming an essential part of how many Nigerians earn today. The report shows that ride-hailing is not just about mobility; it is enabling income diversification, helping people manage financial uncertainty, and supporting broader participation in the digital economy.

Teddy Appa-Dankyi, Senior General Manager for West Africa at Bolt, highlighted that flexible earning is essential for many Nigerians. "Flexible earning opportunities are becoming an essential part of how many Nigerians earn today," he stated. He further emphasized that ride-hailing does more than just provide mobility; it enables income diversification, helps manage financial uncertainty, and supports broader participation in the digital economy.

The report also points to a strong youth-driven trend. Despite a national unemployment rate of 2.99 percent, youth unemployment remains higher at 5.05 percent, prompting many young Nigerians to explore gig work alongside other pursuits. The economic impact is substantial, with the gig economy contributing approximately 2.8 percent to Nigeria's Gross Domestic Product. This demonstrates its increasing relevance and contribution to the national economy, with 64 percent of respondents reporting significant improvements in their standard of living.

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As flexible earning opportunities continue to expand across Africa, there is a clear opportunity for policymakers, platforms, and stakeholders to work together to ensure the gig economy remains inclusive, sustainable, an