April 22, (THEWILL) — Interest in Bitcoin remains resilient among Nigerians as the asset climbs to an 11-month high, reinforcing its role as the primary gateway into the crypto market. Data shows Nigeria ranks seventh globally in Bitcoin interest over the past year highest in Africa highlighting the country’s deepening engagement with digital assets.
Bitcoin continues to dominate large purchases on major platforms, while stablecoins are gaining traction for everyday use. Small businesses are increasingly relying on Bitcoin and dollar-pegged tokens like USDT to settle cross-border invoices with suppliers in China and Europe, creating an informal “shadow trade” system expected to formalise by 2027.
Nigeria’s crypto adoption is among the highest globally, with an estimated 26.3 million active users. Between mid-2024 and mid-2025, retail transactions reached about $57 billion. For many, Bitcoin serves as “digital gold”, offering protection against the Naira’s volatility, while stable coins provide a more stable medium for daily transactions.
High remittance costs and slow banking systems have also accelerated adoption, with freelancers and families turning to crypto for faster, cheaper payments. A young, mobile-first population many underserved by traditional banks now uses crypto wallets as primary financial tools.
Market behavior is also maturing. About 67.2 percent of users are long-term holders, signalling a shift from speculation to wealth building. Meanwhile, regulation is evolving. The Investment and Securities Act (ISA) 2025 is set to classify digital assets as securities, opening the door for institutional investment, while central bank oversight is gradually integrating crypto into the formal financial system.
Globally, Bitcoin has risen over 15 percent since late February, outperforming traditional safe havens like gold, as renewed investor inflows and easing geopolitical tensions boost confidence.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
