Research for Global Development

Barriers to Mobile Money Adoption in Nigeria


Since the launch of Nigeria’s first mobile money service (Paga by Pagatech) in 2011, more than a dozen new mobile money providers have entered the Nigerian market. Mobile money services are now offered by independent vendors, major banks and mobile network operators. In addition to a wide range of mobile money providers, Nigeria has high mobile phone and SIM card ownership. Ninety percent of adults report having their own mobile phone and 91 percent say they have their own SIM card, according to InterMedia’s Financial Inclusion Insights (FII) Tracker Survey of 6,002 adult Nigerians.

Despite these favorable factors, mobile money uptake has been very modest in Nigeria. Only 0.1 percent, or 879,000 adults, are “active” mobile money users, defined as having a registered mobile money account and having used it at least once in the past 90 days. So why has mobile money adoption been so slow?  Continue reading 

InterMedia

Barriers to Mobile Money Adoption in Nigeria


Since the launch of Nigeria’s first mobile money service (Paga by Pagatech) in 2011, more than a dozen new mobile money providers have entered the Nigerian market. Mobile money services are now offered by independent vendors, major banks and mobile network operators. In addition to a wide range of mobile money providers, Nigeria has high mobile phone and SIM card ownership. Ninety percent of adults report having their own mobile phone and 91 percent say they have their own SIM card, according to InterMedia’s Financial Inclusion Insights (FII) Tracker Survey of 6,002 adult Nigerians.

Despite these favorable factors, mobile money uptake has been very modest in Nigeria. Only 0.1 percent, or 879,000 adults, are “active” mobile money users, defined as having a registered mobile money account and having used it at least once in the past 90 days. So why has mobile money adoption been so slow?  Continue reading 

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