According to a recent study commissioned by Bolt and carried out by Ipsos, Nigeria’s gig economy has expanded to an estimated $5.17 billion, with ride-hailing services being crucial in increasing access to flexible income opportunities throughout the nation.
On Tuesday, the report was released in Lagos.
According to Daily Trust, the gig economy in Nigeria is expanding quickly thanks to mobile and web-based services that provide temporary or freelance work.Among these are freelance marketplaces (Upwork, Fiverr, etc.), delivery applications (Glovo, Jumia Food), and ride-hailing services (Bolt, Uber, InDrive).
According to a study done in South Africa, Kenya, and Nigeria, ride-hailing is the second most important source of income in Africa’s gig economy, after e-commerce.
According to the survey, ride-hailing accounts for 24% of the gig economy in Nigeria, while e-commerce leads with 38%.
Income-generating activities carried out outside of conventional, long-term job arrangements are referred to as the gig economy.According to the research, around three million Nigerians were working in the gig economy as of 2024.
According to the survey, gig labor is becoming more and more popular as a viable way to generate revenue, especially during difficult economic times, with over 92% of employed Nigerians working outside of official wage structures.
Ride-hailing is one of the most accessible entrance points for Nigerians looking for flexible work arrangements, as evidenced by the fact that it accounts for 24% of participation among various gig economy categories.
59% of ride-hailing users stay active on platforms for more than a year, according to the survey, demonstrating a persistent reliance on the industry for revenue.In Africa, ride-hailing is developing into a multifaceted economic platform that is absorbing informal labor, speeding financial and digital inclusion, and expanding new revenue streams throughout urban markets.
According to the research, “Nigeria’s ride-hailing space has witnessed key developments across regulation, technology, and platform innovation – strengthening operational resilience, improving driver welfare, and expanding inclusion within the urban transport economy.”
Teddy Appa-Dankyi, Senior General Manager, West Africa at Bolt, commented on the research and stated that flexible income alternatives are becoming important to how many Nigerians make a living.
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