The Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, has projected Nigeria’s eCommerce fashion market to hit $423 million by 2024.
Speaking at the launch of the Nigerian Export Promotion Council’s Export Skills Acquisition Centre in Lagos, she revealed that this growth represents 19% of Nigeria’s total eCommerce market.
She highlighted that the sector is set to experience an annual growth rate of 8.2% over the next four years, reaching a projected market volume of $579.9 million by 2028. Dr. Uzoka-Anite urged Nigerian exporters to leverage the opportunities in the eCommerce fashion sector to boost the nation’s GDP.
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The Minister emphasized that Africa’s young population, expected to double by 2050, coupled with rising consumer demand for Made-in-Africa fashion, presents vast potential for the industry.
However, challenges such as competitiveness and limited resources still hinder the growth of African fashion houses.
She assured that the establishment of the Export Skills Acquisition Centre would provide essential training for entrepreneurs and small business owners, equipping them with the skills needed to thrive in the export sector and drive Nigeria’s economic diversification efforts.
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