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
MTN @ Swish Fusion Summit, Showcases 5G Rollout Strategy

MTN Nigeria Communications Plc has joined other professionals across media, technology, and business gathered in Lagos for the Swish Fusion Tech and Media Summit.
Themed ‘Africa: Big Wins & New Breaks’, the summit drew thousands of attendees and featured more than 40 speakers exploring the intersection of innovation, regulation, and economic growth across the continent.
Among the sessions, MTN Nigeria presented a detailed look at the company’s ongoing 5G deployment efforts and its role in shaping enterprise infrastructure.
Njideka Jack, senior manager for Partnerships in MTN’s Enterprise Business Division, shared details of the investments, reiterating the company’s commitment to delivering high-quality 5G-powered services.
The company’s 5G rollout timeline began in 2022 with license acquisition from the Nigerian Communications Commission. In 2023, MTN moved into pilot testing and infrastructure investment.
By 2024, coverage had expanded to key cities and business hubs.
The company now plans to extend access to more underserved areas throughout 2025 while deepening collaboration with OEMs and regulators.
Beyond the rollout itself, Jack also spoke on the potential of private 5G networks for Nigerian enterprises.
With the ability to offer secure, high-speed, low-latency connectivity, these networks are increasingly being adopted in manufacturing, healthcare, education, and logistics sectors.
The summit’s broader agenda reflected a similar sense of urgency around Africa’s digital future.
Panels and breakout sessions tackled topics ranging from mobile-first product design and regulatory frameworks to the rise of AI in content creation and the realities of funding early-stage tech ventures on the continent.
Speakers from companies like Jumia, Stears and local startups provided perspectives on both the barriers and breakthroughs in building scalable African solutions.
The sessions also sparked conversations about how African businesses are adapting to consumer behaviour shifts and infrastructure limitations.
Telecom
PAT Taps Osi as CEO

Pan African Towers (PAT), a Nigerian infrastructure provider serving 9mobile and Spectranet, has appointed Echezona Osi as chief executive officer.

Echezona Osi
Adefolarin Ogunsanya, company’s, board chairman, explained in a statement that Osi would succeed Oladipo Badru, whose tenure lasted nine months in acting CEO position. Osi has more than 28 years of experience in the telecommunications sector across various regions of Africa.
Prior to his appointment as CEO, he had served as the head of network deployment at Airtel Nigeria, operations director and chief technical information officer at MIC Tanzania, chief technology officer roles at IPT PowerTech Nigeria, Rhino Niger Networks and Biswal Nigeria.
He obtained a degree in electrical/ electronic engineering from the University of Benin and a postgraduate diploma in data science and business analytics from the University of Texas.
Telecom
NCC Introduces N10m Licence Fee for Bulk SMS Service

Companies sending bulk international text messages, also known as Application-to-Person (A2P) messages, will now have apply for a licence that costs N10 million.
This is part of new rules introduced by the Nigerian Communications Commission (NCC) aimed at cleaning up the system, fighting fraud, blocking spam messages and stopping money from leaving the country unchecked.
These A2P messages are the kind customers get from banks, online stores, hospitals and political campaigns, automated texts sent from apps to their phones.
According to the commission, the bulk international text message system has been poorly regulated, allowing misuse and invasion of privacy.
“The International SMS Service Ecosystem in Nigeria has not been fully brought under regulatory control. It has been observed that the excessive use of the Short Message Service has led to fraud, spam and illegal activities,” the NCC said.
The regulator warned that without action, the problem would worsen as more people use mobile phones and digital services.
To solve this, the NCC is creating a central platform, or gateway, through which all international bulk text messages must pass through.
The agency said this would help to monitor messages in real time, ensure proper fees are paid, and make sure the money stays in Nigeria where it can contribute to the economy.
As part of the incoming change, service providers must follow strict rules, including strong data protection, spam filters, and message encryption.
Also, they must also work with local mobile networks and make sure all messages come from a verified sender
The NCC warned that any message without a proper sender ID will be blocked and not delivered to users.
To protect users from unwanted texts, the new rules say companies must get clear permission before sending any promotional content.
The rule also says people must also be able to choose whether they want to receive such messages or not.
Companies are now required to keep records of all messages for at least six months and must clearly state all charges involved.
The NCC said fees for help requests, cancellations, or service info must be transparent and not include hidden charges.
The commission will issue licences to several providers to encourage healthy competition but may limit new licences if needed.
Only companies that show they can stop fraud and safely deliver messages will be allowed to operate. They must also regularly report their message traffic and finances to the NCC.
It warned that any company that breaks the rules risks getting fined, suspended, or having its licence revoked.
Offences like charging illegal tariffs, ignoring security rules, or avoiding taxes will be punished, the NCC said.
The commission added that the new rules follow the Nigerian Data Protection Act 2023 and support the federal government’s goal of strengthening cybersecurity and controlling Nigeria’s digital space.
The framework will also be reviewed from time to time to keep up with new technology and market trends.
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