Spending on Firms’ Consumer Cards Up 20% in Nigeria

Emma Okonji

Visa, a global leader in digital payments, has released report on its latest consumer spending insights for the Ramadan and Eid Al-Fitr period in Nigeria, based on the Visa Consulting & Analytics Retail Spend Monitor.

According to the report, during the period, spending on Visa premium consumer cards increased 20 per cent year-over-year, with spend share reaching over 10 percentage points, reflecting higher spending on travel, everyday retail, and food-related categories.

Analysing the report, Vice President and Country Manager for Visa in West Africa, Andrew Uaboi, said: “The Ramadan and Eid Al-Fitr period saw higher spending across travel and everyday retail categories, reflecting both inbound visitor activity and sustained local spending. These insights highlight how consumer behavior shifts during key seasonal moments and underscore the opportunity for businesses to respond with more relevant and seamless commerce experiences.”

Head of Visa Consulting & Analytics (VCA), CEMEA, Nicolas Khoury, said: “The VCA Retail Spend Monitor provides a view of how consumer spending evolves across the Ramadan and Eid Al-Fitr period, from changes in travel patterns to shifts in everyday spending. These insights help issuers and merchants better understand seasonal behavior and design offers and experiences that remain relevant as consumer needs change.”