Digital payments driving Nigeria’s nightlife, says Moniepoint study
Moniepoint says digital payments now dominate Nigeria’s nightlife economy, particularly among local bars and informal community venues.
Moniepoint said in a statement recently that its study, ‘The Business of Community Nightlife in Nigeria’, analysed transactions from more than 27,000 bars, clubs and lounges on its payment network, alongside field research across several cities.
According to the report, bank transfers account for the majority of nightlife payments, followed by card transactions, while cash use continues to decline due to security concerns.
It said transaction volumes rose from about 8.00 p.m., peaked before midnight and declined thereafter, indicating that the most critical business hours occurred earlier in the night.
The study noted that local bars typically expanded their workforce by 30 per cent to 50 per cent on peak nights, with estimates indicating that at least 54,000 people engaged in nightlife-related work each night across Nigeria.
Commenting on the findings, Tosin Eniolorunda, co-founder and group chief executive officer of Moniepoint, said community nightlife operators were a vital part of Nigeria’s economic structure.
According to the report, Lagos leads the number of nightlife outlets on the Moniepoint network, followed by the Federal Capital Territory, Rivers, Delta, and Edo.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Olubadan lauds Tinubu on release of Oriire kidnap victims, urges rehabilitation
“As a follow-up to this development, the government must ensure that all communities bordering the National Park are fully secure,” he said.
Heading 1
Iran’s new supreme leader vows revenge over father’s assassination by U.S.-Israeli forces
“We pledge to avenge the blood of the martyred leader and all the martyrs of these two wars from the criminal and disgraced killers,” he said.
Heading 4
Trump administration subpoenas New York Times journalists over Air Force One story
The subpoenas seek to compel the reporters to testify before a federal grand jury in Manhattan.
Heading 2
Klopp agrees to replace Nagelsmann as Germany coach
Nagelsmann resigned last week as the men’s national team coach following Germany’s shocking exit from the 2026 FIFA World Cup.
Health
FG expands cancer funding, local drug production
“We are trying to domesticate expensive treatments by producing much-needed medicines locally and translating global research into action in our clinics,” he said.
Heading 3
Remi Tinubu begs Asake, Davido, Burna Boy to come rescue poor Nigerians from hunger
The first lady stated that buying exotic cars is good, but noted that the singers can still establish foundations to assist the struggling population.
