Nigerian SMEs 81% confident, credit digital payments for growth
According to the Mastercard SME Confidence Index published July 3, 2026 by Daily Post, 81% of Nigerian small and medium enterprises feel confident about the next 12 months, and 68% expect their revenue to grow. Mobile payment adoption stands at 67%, card usage at 45% and online payments at 42%, with 57% of businesses operating both physically and online. Over half (56%) reported revenue growth in the past year, supported by improved government support (17%) and better infrastructure (16%). Despite financial concerns (62%), access to credit and inflation remain challenges, they have not dampened optimism. Entrepreneurs cite staff training (79%), digitizing operations (78%) and accepting digital payments across channels (73%) as top growth areas, while security (60%) and mentorship (52%) are seen as key enablers. Nearly two‑thirds (69%) seek credit to expand, and 63% currently use personal cards for business spending, highlighting a need for dedicated commercial cards and structured credit. Mastercard highlights its tools—Tap on Phone, QR Pay‑by‑Link, SME‑in‑a‑Box, Mastercard Move, Start Path and Product Express—as well as tokenization and the Trust Center to help SMEs scale securely. For SME owners, the data suggests exploring digital payment options, pursuing formal credit, investing in staff upskilling and leveraging mentorship programs to turn ambition into lasting success.