Nigeria’s Gig Economy Tops $5.17bn as Ride-Hailing Expands Flexible Income Opportunities — Bolt
- Nigeria’s gig economy has grown to over $5.17 billion, contributing about 2.8% to GDP, with ride-hailing emerging as a major entry point for flexible income
- The sector is expanding due to limited formal job opportunities and a largely informal labour market, with 59% of participants remaining active for over a year
- The report also shows improved living standards for most workers, but highlights low female participation and the need for inclusive, sustainable growth
Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
A new nationwide report commissioned by Bolt and carried out by Ipsos shows that digital platform work is playing a growing role in Nigeria’s changing labour market, offering millions of people alternative pathways to earn income.
Source: UGC
The study finds that limited access to formal jobs, alongside the country’s heavy dependence on informal employment, is pushing more Nigerians toward gig platforms like ride-hailing as a fast and adaptable way to make money amid economic uncertainty.
With over 92% of the workforce operating outside formal wage systems, flexible income streams are becoming increasingly vital.
Ride-hailing emerges as key entry point
Among various gig economy segments, ride-hailing accounts for 24% of participation, making it one of the most accessible ways for Nigerians to tap into platform-based work.
The report also dispels the notion that such jobs are only temporary, revealing that 59% of participants remain active for more than a year, underlining the sector’s role as a steady income source.
Teddy Appa-Dankyi, Bolt’s Senior General Manager for West Africa, noted that ride-hailing now goes beyond transportation, helping individuals diversify earnings.
Appa-Dankyi said:
“Flexible earning opportunities are becoming an essential part of how many Nigerians earn today. 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.”
Youth participation and economic impact grow
The findings further highlight the influence of youth employment trends. Although Nigeria’s overall unemployment rate has dropped to 2.99%, youth unemployment remains higher at 5.05%, prompting many young people to explore gig work alongside education, entrepreneurship, or relocation plans.
Economically, the sector continues to expand, with Nigeria’s gig economy valued at over $5.17 billion and contributing an estimated 2.8% to the country’s GDP. Participation is also improving livelihoods, as 64% of respondents reported a significant boost in their standard of living, while another 31% experienced moderate improvements.
Weyinmi Aghadiuno, Bolt’s Head of Regulatory and Policy for Africa, emphasised the need for collaborations to ensure the gig economy remains inclusive and sustainable as it grows.
Aghadiuno said:
“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.”
Source: UGC
However, the report points to a notable gender gap, with women making up just 3% of ride-hailing participants, signalling an opportunity to expand inclusion across the sector.
Overall, the report positions ride-hailing as a critical pillar of Nigeria’s evolving workforce, broadening access to income opportunities and deepening participation in the digital economy.
Source: Legit.ng
