June 19, 2026
Nigeria’s small and medium enterprises (SMEs) are looking ahead with confidence and are aligned on what will get them there. More than eight out of ten SMEs (81%) feel confident about the next 12 months, and they unanimously agree that digital and online payments are vital in helping grow their businesses. A Mastercard study shows that Nigerian entrepreneurs are channelling that optimism into action, with 68% of SMEs expecting their revenue to grow.
The Mastercard SME Confidence Index is a multi-market study that captures the sentiment, priorities and growth outlook of SMEs across Eastern Europe, the Middle East and Africa.
Digital momentum is already well underway. Mobile payment adoption by SMEs stands at 67%, followed by card at 45% and online payments at 42% respectively, with most businesses (57%) now operating across a combination of physical and online channels. With cash and bank transfers still widely used, there is a clear runway to bring even more everyday commerce into the digital economy.
“Nigeria is home to one of the most entrepreneurial and fast-moving SME communities anywhere in the world, and the ambition on display in this research is remarkable. When every business surveyed agrees that digital payments matter to their growth, it highlights the opportunity to accelerate SME development through digital innovation. Our focus is to meet that ambition with the right tools, finance and partnerships so these businesses can scale with confidence,” said Gabriel Swanepoel, division president, Africa, Mastercard.
