A new nationwide report commissioned by Bolt and conducted by Ipsos has revealed that Nigeria’s gig economy has expanded into a $5.17 billion sector, with ride-hailing emerging as one of the strongest growth drivers and a major source of flexible income across the country.

The report underscores the growing importance of platform-based work in addressing Nigeria’s employment challenges, as limited formal job opportunities continue to push many citizens—particularly young people—toward digital earning opportunities such as ride-hailing and e-commerce.

According to the findings, more than 92 per cent of employed Nigerians work within the informal sector, highlighting the significance of flexible, technology-driven jobs in the country’s labour market. Ride-hailing alone accounts for 24 per cent of gig economy participation, making it one of the most accessible entry points into platform-based income generation.

Speaking at the launch of Bolt’s Gig Economy Report in Lagos, the company’s Senior General Manager for West Africa, Teddy Appa-Dankyi, said flexible earning opportunities have become central to how many Nigerians sustain their livelihoods.

He explained that ride-hailing goes beyond providing transportation services, playing a broader economic role by enabling users to diversify their income sources, cope with financial pressures, and participate more actively in the digital economy.

The report also indicates that gig work has become a relatively stable income stream for many participants. Nearly 59 per cent of ride-hailing workers remain active on platforms for more than a year, suggesting that the sector offers consistent income support rather than short-term engagement.

It further highlights the role of the gig economy in tackling youth unemployment—an issue that remains higher than the national average—as more young Nigerians combine flexible work with education, entrepreneurship, and other livelihood strategies.

Findings from Ipsos show that participants are largely attracted to gig work because of its low entry barriers and the potential for daily earnings. Many respondents said the flexibility of ride-hailing allows them to better manage their time while meeting financial responsibilities.

The study also reported improvements in living standards among many participants. About 64 per cent said their living conditions had improved significantly since joining platform-based work, while 31 per cent reported slight improvements.

Digital payments are also driving the sector’s expansion, with more than 85 per cent of ride-hailing transactions now conducted through cashless channels such as bank transfers and POS systems, further strengthening financial inclusion.

However, the report points to a notable gender imbalance in the sector. Women account for only 3 to 4 per cent of ride-hailing participants, highlighting the need for more inclusive policies and support systems to encourage female participation.

It also notes ongoing regulatory developments and the growing influence of worker associations advocating improved welfare and fair practices within the industry.

Despite these challenges, the report concludes that Nigeria’s gig economy is gradually shifting from a survival-based alternative to a more structured part of the labour market, with ride-hailing playing a central role in advancing digital inclusion, income generation, and the future of work.