Telecom
Digital Payments Fuel Growth for Nigerian SMEs: Mastercard Report Highlights Trends

Small and medium enterprises (SMEs) in Nigeria are leveraging digital payments, innovation, and partnerships to expand their reach and strengthen business operations, according to the third edition of the Mastercard SME Confidence Index.
With 99% of SMEs in Nigeria now accepting digital payments, businesses are capitalizing on cashless transactions to enhance efficiency, improve customer experience, and build financial resilience. This digital shift is enabling SMEs to grow in an evolving business environment, with many prioritizing secure payment solutions and financial inclusion initiatives.
“Small and medium enterprises are the backbone of economies, driving innovation, employment, and resilience. As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion.
“Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth,” said Dimitrios Dosis, president Eastern Europe, Middle East and Africa, Mastercard.
“Nigerian SMEs are demonstrating remarkable adaptability and foresight by leveraging digital payment solutions to drive economic transformation. Their positive revenue outlook highlights a commitment to harnessing technology for sustainable growth. At Mastercard, we are dedicated to empowering these businesses with innovative digital tools, fostering strategic partnerships, and supporting their journey toward greater financial inclusion and security,” said Mark Elliott, division president, Africa, Mastercard.
Digital payments at the core of SME expansion
As Nigeria’s economy embraces digitalization, SMEs are recognizing the advantages of cashless transactions in driving business efficiency. Many business owners highlight ease of managing payments, seamless supplier transactions, and reduced reliance on cash handling as key benefits. Looking ahead, SMEs are focused on expanding their digital payment capabilities and ensuring seamless customer experiences to sustain their competitive edge.
Looking ahead, 73% of SMEs plan to further expand their digital payment capabilities across various channels, and 70% are focused on providing seamless, user-friendly payment experiences to customers to drive business improvement.
SMEs focus on growth, cybersecurity, and financial access
While most SMEs anticipate maintaining or increasing their revenue, they acknowledge cybersecurity, inflation, and financial access as key areas influencing business growth. Strengthening digital security measures is a growing priority as businesses increase their reliance on online transactions.
Many SMEs also emphasize the need for broader financial access, with business owners identifying private sector partnerships, government-led initiatives, and international collaborations as key enablers for long-term success.
This highlights the growing role of collaboration in driving SME resilience and supporting businesses as they navigate an evolving financial landscape.
Access to credit remains a priority for over three-quarters of SMEs, with 47% aiming to secure financing to grow their businesses and 27% seeking capital to maintain daily operations.
Optimism amid challenges
While SMEs face challenges such as inflation (77%) and rising costs of goods and services (75%), a significant 78% expect to achieve the same or higher revenue this year compared to last, signaling resilience and adaptability.
SMEs identify private sector initiatives or partnerships (56%), government-led initiatives (47%), and international collaborations (41%) as key factors that will positively impact their operations this year.
Through strategic collaborations, Mastercard aims to support Nigerian SMEs in achieving their growth objectives. For instance, in July 2023, Mastercard partnered with Alerzo, a leading Nigerian B2B e-commerce company, to digitize SMEs in the fast-moving consumer goods (FMCG) sector, making digital payments more accessible and efficient.
Recognizing the growing market need, Mastercard’s Product Express is helping Nigerian fintech launch card programs quickly and easily, enabling them to reduce their time to market and service customers more efficiently.
Furthermore, Mastercard’s award-winning startup engagement program, Start Path is providing fintech like Duplo and Mono with operational support, commercial engagement, and the opportunity for strategic investment.
Mastercard remains committed to supporting SMEs in Nigeria by leveraging its extensive network, cutting-edge technology, and strategic collaborations. By introducing contactless payment solutions like Tap on Phone, QR Pay by Link, and Payment Link, and collaborating with governments, financial institutions, and private sector partners, Mastercard is driving financial inclusion and digital transformation, and supporting small businesses as they navigate evolving commercial landscapes.
Telecom
Telcos Mull Introduction of Different Tariff Plans for Different States

Telecommunications operators in Nigeria are considering shifting from the current national tariff structure to a regional tariff regime that accounts for state-specific operational challenges.
They say this is because the challenges and costs of running their businesses vary significantly from state to state.
Currently, phone companies in Nigeria have a single national tariff for their services, meaning everyone pays the same amount no matter where they live.
However, the telcos argue that this system doesn’t account for the fact that some states have higher operating costs due to issues like attacks on their equipment and multiple taxes.
This proposal was discussed at the 7th edition of the Policy Implementation Assisted Forum (PIAFo) in Lagos, where industry leaders highlighted the need for a pricing model that reflects the ease—or difficulty—of doing business in each state.
Gbenga Adebayo, chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON), specifically pointed out that the high cost of doing business in some states is a major concern and increases their expenses. He suggested that if negotiating with certain states to reduce these costs is impossible, then the added expense of operating there should be reflected in the service prices in those areas.
“We may have to reconsider the issue of our national tariffs and look at regional tariffs. If you are aware that the cost of doing business is high in a particular state and it’s impossible to negotiate with them, factor the cost of deployment in those areas into the cost of providing services,” he said.
Tony Emoekpere, president, Association of Telecommunications Companies of Nigeria (ATCON), agreed that the current national tariff is unfair because operational costs are not the same across the country.
He believes that states that make it easier for telecom companies to operate should be rewarded, while those that create difficulties should see higher service costs.
Telecom
9mobile Denies Shutdown Rumours, Promises Improved Services

9mobile, telecommunications operator, has described as untrue the rumors suggesting that it has shut down its operations.
according to the telcos, these claims are entirely baseless and aimed at causing unnecessary panic among our valued subscribers, the mobile operator said in a statement.
“We understand that some customers have recently faced challenges, particularly with Mobile Number Portability (MNP), a service that enables seamless network switching.
“We want to clarify that 9mobile has never restricted customers from porting to other networks. We remain fully compliant with industry regulations and committed to delivering fair, transparent, and customer-focused services.
“While there have been temporary technical challenges affecting MNP, these issues have now been largely resolved. Some minor delays may still occur due to ongoing system optimizations, but we are actively working to ensure a smoother experience for all users.
“As a proudly Nigerian brand, we embody the resilient spirit of our people and remain steadfast in our commitment to overcoming challenges. We acknowledge the temporary service disruptions some customers may have experienced in different locations.
“However, we assure you that these disruptions are part of a broader transformation effort aimed at modernizing our infrastructure and improving overall service quality.
“Our ongoing investments in network upgrades and service expansion will soon yield significant improvements, ensuring reliable connectivity for individuals, businesses, and communities.
“We sincerely appreciate the patience and loyalty of our subscribers during this transition. While challenges exist, we are making significant progress and are confident that brighter days are ahead. We remain dedicated to providing exceptional service and keeping you connected to limitless opportunities”.
Telecom
TikTok and Truecaller Face NDPC Investigation Amid Data Protection Concerns

Nigeria Data Protection Commission (NDPC) has initiated an investigation into the data processing practices of Tiktok and Truecaller, following growing concerns about potential privacy violations.
Dr. Vincent Olatunji, the Chief Executive Officer of the NDPC, made the announcement today during a press conference in Abuja, where he also revealed the issuance of the Nigeria Data Protection Act – General Application and implementation directive (NDPC Act – GAID), 2025.
Dr Olatunji stated that the commission’s primary concern is how these platforms manage Nigerian users’ personal data, including potential breaches of consent, data sharing with third parties, and overall compliance with the Nigeria Data Protection Act (NDPA), 2023. He confirmed that the NDPC is actively investigating Tiktok and Truecaller’s data processing activities to ensure they comply with Nigeria’s data protection laws.
“The goal is to safeguard the privacy rights of Nigerians and hold organizations accountable for how they collect, store, and use personal data,” he added.
This investigation comes amid increasing scrutiny of global tech companies regarding data privacy, especially concerning how personal information is processed, stored, and transmitted beyond national borders.
The NDPC act – GAID, 2025, issued today, provides a detailed framework for implementing Nigeria’s data protection law, outlining compliance guidelines, enforcement mechanisms, and obligations for both public and private organizations.
Dr Olatunji emphasized that the directive aims to strengthen Nigeria’s digital economy by fostering trust in data governance while ensuring individuals’ rights to privacy are respected in accordance with international best practices.
He reiterated that companies operating in Nigeria must comply with the country’s data protection regulations or face regulatory actions, including fines and potential restrictions.
The NDPC has urged the public to report any data privacy violations and reaffirmed its commitment to transparency and due process in its investigations.
The commission noted that reporting data breaches has become more accessible through dedicated channels on its official website.
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