Nigeria’s gig economy surpasses $5.17b, says report
• Ride-hailing broadens income opportunities A new nationwide gig economy report commissioned by Bolt and conducted by Ipsos has revealed that flexible platform work is becoming an increasingly important pathway
• Ride-hailing broadens income opportunities
A new nationwide gig economy report commissioned by Bolt and conducted by Ipsos has revealed that flexible platform work is becoming an increasingly important pathway for income participation in Nigeria’s evolving labour market.
The report indicated broader economic contribution of the sector, estimating Nigeria’s gig economy at over $5.17 billion in market size, with platform work contributing approximately 2.8 per cent of nation’s Gross Domestic Product (GDP).
The report highlighted how limited formal employment opportunities and continued reliance on informal work are driving more Nigerians toward digital platforms such as ride-hailing as a practical way to generate quick income.
Among gig economy sectors, ride-hailing accounts for 24 per cent of participation of Nigeria’s 92 per cent employed in the informal sector, making it one of the most accessible entry points into platform-enabled work.
The findings also showed that participation in ride-hailing is not short-term for gig participants, with nearly six in 10 participants or 59 per cent remaining active for more than one year, suggesting that the sector plays a sustained role in income generation rather than serving only as temporary work.
Senior General Manager, West Africa, Bolt, Teddy Appa-Dankyi, said flexible earning opportunities are becoming an essential part of how many Nigerians earn today.
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“This report shows that ride-hailing is not just about mobility, it is helping people diversify income, manage financial uncertainty, and participate more actively in the digital economy,” Appa-Dankyi said.
Youth employment trends are also shaping participation in the gig economy space. While national unemployment has declined to 2.99 per cent, youth unemployment remains significantly higher at 5.05 per cent, encouraging more young Nigerians to explore platform-enabled earning opportunities alongside education, entrepreneurship and migration planning.
Participation in the gig economy has also improved living conditions for many workers, with study showing 64 per cent of respondents admitting significant improvement in their standard of living, while an additional 31 per cent reported slight improvement after joining platform-based work.
Head, Regulatory and Policy, Africa, Bolt, Weyinmi Aghadiuno explained that as flexible earning opportunities become more common across Africa, there is an opportunity for policymakers, platforms and stakeholders to work together to ensure the gig economy continues to expand access to opportunity while remaining sustainable and inclusive.
The report also identified opportunities to improve participation across underrepresented groups, noting that women currently account for just three per cent of ride-hailing participants, highlighting the potential for greater gender inclusion in the sector.
