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The Federal Government of Nigeria is set to implement new regulations to enhance security across eCommerce platforms. According to the proposed bill, individuals selling goods online will be required to provide specific information, including their legal name, principal geographic address, and an electronic contact method or telephone number.
eCommerce platforms will also be mandated to supply detailed descriptions of the goods or services offered, along with clear terms and conditions. This includes information on payment methods, withdrawal, termination, return, exchange, cancellation, and refund policies.
The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, emphasized that this initiative aims to accelerate the growth of Nigeria’s digital economy by introducing clear legislative guidelines. He noted that, once enacted, the law would apply uniformly across all six geopolitical zones of the country.
Malam Kashifu Inuwa, Director-General of the National Information Technology Development Agency (NITDA), added that the bill would significantly enhance the use of the digital economy nationwide, benefiting both the government and the private sector.
Nigeria’s eCommerce landscape is currently dominated by platforms like Jumia and Konga. In May 2024, Jumia reported a notable revenue increase of $48.9 million and a gross profit of $31.2 million for the first quarter, driven by a rise in order volumes and average order value in Nigeria.
To optimize operations, Jumia is consolidating its three Nigerian warehouses into a single 30,000-square-metre facility in Lagos. The company is also planning to expand its reach to more cities across Nigeria.
These regulatory measures aim to create a safer and more reliable eCommerce environment, promoting consumer confidence and driving further growth in the digital economy.
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