Report: Nigeria’s Gig Economy Hits $5.17bn as Ride-hailing Expands Flexible Income Opportunities

Emma Okonji

Nigeria’s gig economy has grown to an estimated $5.17 billion, with ride-hailing platforms emerging as a key driver of flexible income opportunities, according to a new report commissioned by Bolt and conducted by Ipsos.

Gig economy is a short term labour market with flexible and on-demand online jobs, often facilitated by digital platforms.

The nationwide study highlighted the increasing role of platform-based work in Nigeria’s evolving labour market, as more individuals turn to digital platforms to navigate limited formal employment opportunities and persistent economic uncertainty.

With over 92 per cent of employed Nigerians operating within the informal sector, the report underscored the growing importance of flexible earning models in bridging income gaps. Ride-hailing alone accounts for 24 per cent of gig economy participation, making it one of the most accessible entry points into digital work.

Contrary to the perception of gig work as temporary, the report findings revealed sustained engagement among participants. Nearly 59 per cent of ride-hailing workers remain active for over a year, indicating that the sector has become a reliable source of ongoing income rather than a short-term solution, the report said.

Analysing the report, Senior General Manager for West Africa at Bolt, Teddy Appa-Dankyi, said flexible work remained increasingly central to how Nigerians earn a living.

“Flexible earning opportunities are becoming an essential part of how many Nigerians earn today. The report shows that ride-hailing is not just about mobility; it is enabling income diversification, helping people manage financial uncertainty, and supporting broader participation in the digital economy,” he said.

The report also pointed to youth-driven participation trends. Although Nigeria’s national unemployment rate has declined to 2.99 per cent, youth unemployment remains higher at 5.05 per cent, pushing more young people to explore gig work alongside education, entrepreneurship, and migration plans.

In terms of economic impact, the gig economy contributes approximately 2.8 per cent to Nigeria’s Gross Domestic Product, reflecting its growing relevance within the national economy, the report added.

The study further explained that gig work would continue to improve livelihoods for many participants.

The report said about 64 per cent of respondents reported a significant improvement in their standard of living after joining platform-based work, while an additional 31 per cent noted slight improvements.

Head of Regulatory and Policy for Africa at Bolt, Weyinmi Aghadiuno, emphasised the need for collaboration to sustain growth in the sector.

“As flexible earning opportunities continue to expand across Africa, there is a clear opportunity for policymakers, platforms, and stakeholders to work together to ensure the gig economy remains inclusive, sustainable, and accessible to more people,” she said.

However, the report highlighted a gender gap in participation, with women accounting for just three per cent of ride-hailing workers, pointing to significant opportunities for greater inclusion.

From the overall findings, the report positioned ride-hailing as a critical component of Nigeria’s labour ecosystem, offering millions of people a pathway to flexible income and deeper participation in the digital economy.