Pos Transactions in Nigeria Hit ₦10.45 Trillion in Q1 2025, Up by 209% from Last Year

Point-of-Sale (PoS) transactions in Nigeria surged to ₦10.45 trillion in the first quarter of 2025, marking a 209 percent increase from the ₦3.62 trillion recorded in the same period of 2024. The latest data from the Nigeria Inter-Bank Settlement System (NIBSS) reflects a sharp rise in digital payment adoption across the country. In terms of monthly breakdown, PoS transactions recorded ₦4.12 trillion in January, ₦3.12 trillion in February, and ₦3.22 trillion in March. This represents a significant jump from January, February, and March 2024, which recorded ₦850 billion, ₦805 billion, and ₦962 billion respectively. Alongside the rise in transaction value, PoS transaction volume also grew substantially. A total of 776.9 million transactions were processed in Q1 2025, up from 314 million transactions in the same period of 2024. The surge corresponds with a steady increase in the number of active PoS terminals, which rose from 2.6 million in March 2024 to 5.9 million by the end of March 2025. Registered PoS terminals also increased, climbing from 7.8 million in December 2024 to 8.36 million by the close of the first quarter. The improvement in infrastructure means Nigeria now has an average of one PoS terminal for every 41 persons, compared to one per 89 persons a year earlier. The broader electronic payment ecosystem also expanded, with total e-payment transactions reaching ₦284.99 trillion in Q1 2025, compared to ₦234.49 trillion in Q1 2024. Despite a decline in the number of overall electronic transactions from 2.78 billion to 2.21 billion year-on-year, the higher value of processed payments suggests greater user confidence and reliance on digital platforms for larger transactions. Experts attribute the rapid growth in digital payments to increased fintech activity, regulatory support for cashless policies, and rising consumer acceptance of electronic payment systems. However, challenges such as poor network infrastructure, power outages, and fraud concerns remain key issues for operators and users alike. With the steady growth in PoS and electronic payments, stakeholders are calling for stronger investments in technology and security to maintain momentum and ensure financial inclusion across all regions of the country.