Electronic payment transactions in Nigeria surged to N284.99 trillion in the first quarter of 2025, marking a 17.7% increase compared to the same period in 2024, according to data from the Nigeria Inter-Bank Settlement System (NIBSS). The rise reflects growing consumer reliance on digital platforms and wider adoption of cashless payment methods across the financial sector.

Point-of-Sale (PoS) transactions saw a dramatic year-on-year increase, hitting N10.45 trillion in Q1 2025 — a 209% jump from the N3.62 trillion recorded in the corresponding quarter of 2024. Monthly figures show PoS transaction values at N4.12 trillion in January, dipping to N3.12 trillion in February, and slightly rebounding to N3.22 trillion in March. This contrasts sharply with Q1 2024 figures of N850.09 billion in January, N805.05 billion in February, and N961.86 billion in March.

NIBSS Instant Payment (NIP) transactions also recorded strong growth. In January 2025 alone, NIP processed N100.06 trillion, before dipping to N88.87 trillion in February, likely due to the shorter month. March saw a recovery to N96.07 trillion, bringing the quarterly total close to January’s peak. Compared to the same quarter in 2024 — when NIP volumes stood at N72.11 trillion in January, N79.33 trillion in February, and N83.05 trillion in March — the 2025 figures underscore a consistent upward trend in Nigeria’s digital payment landscape.