Digital payment infrastructure is helping accelerate growth in Nigeria’s $11.09bn food service industry by improving transaction efficiency, expanding access to financial services and enabling businesses to operate with greater visibility, according to a new industry report.
The study by fintech company Moniepoint examines the evolution of Nigeria’s food service sector over four decades, highlighting how the adoption of real-time payments, business management tools and data-driven financial services is reshaping how restaurants, quick-service operators and other food businesses operate.
The report, titled “What It Takes to Feed Nigeria Every Day: The Payment Story Behind Its Food Service Industry,” said digital infrastructure is helping move the sector away from a largely cash-based operating model towards a more connected commercial ecosystem.
“The sector’s most persistent payment problems, including settlement delays, unreliable confirmation, unchecked theft and inaccessible credit, have been resolved by real-time digital infrastructure, turning food commerce into an $11.09bn market in 2025,” the report stated.
Nigeria’s food service market has expanded from traditional restaurants and eateries into a broader digital economy that now includes food delivery platforms, cloud kitchens, and technology-enabled restaurant operations. The sector is projected to reach $19.31bn by 2030, according to projections cited in the study.
