PoS transactions triple by 209% to N10.45trn in Q1 2025
Point-of-sale (PoS) transactions in Nigeria jumped to N10.45 trillion in the first quarter of 2025, more than tripling the N3.62 trillion recorded in the same period of 2024.
The latest figures, released by the Nigeria Inter-Bank Settlement System (NIBSS), show a 209 percent year-on-year surge—driven by rising adoption of electronic payments and a wider distribution of PoS terminals across the country.
Overall, electronic payment transactions across all channels totalled N284.99 trillion in Q1 2025, up from N234.49 trillion in Q1 2024—marking a 17.7 percent increase.
A breakdown of the NIBSS Instant Payment (NIP) platform showed a strong start in January 2025, with N100.06 trillion worth of transactions.
The figure dipped slightly to N88.87 trillion in February, likely due to the fewer number of days, before rising again to N96.07 trillion in March.
By comparison, January 2024 saw N72.11 trillion in transactions, followed by N79.33 trillion in February and N83.05 trillion in March.
PoS activity also followed a similar growth pattern. Nigerians transacted N4.12 trillion via PoS in January 2025, N3.12 trillion in February, and N3.22 trillion in March.
These numbers mark a sharp leap from Q1 2024, when PoS transaction values stood at N850.09 billion in January, N805.05 billion in February, and N961.86 billion in March.
In January 2025, 5.5 million PoS terminals were active nationwide. This number climbed to 5.8 million in February and 5.9 million in March.
A year earlier, Nigeria had just 2.4 million active PoS terminals in January and 2.6 million by March.
The figures suggest that more Nigerians—especially merchants and small businesses—are embracing digital tools as the country moves further away from cash-heavy transactions.
PoS machines allow users to make payments directly from their bank accounts using debit or ATM cards.
The process is fast, secure, and eliminates the need for physical cash—making it an essential part of the growing cashless economy.
The data also reflect Nigeria’s broader digital payment evolution, with real-time payments becoming the norm for personal and business transactions.
As banks continue to expand digital services and fintechs roll out agent networks in hard-to-reach areas, Nigeria’s payment landscape is being reshaped in real time—one PoS terminal at a time.
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