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Nigeria’s Web3 Boom: $43M Raised as Stablecoin Volume Hits $48.2M Daily – Hashed Emergent Report

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Hashed Emergent, the venture capital firm accelerating Web3 adoption in Africa and other emerging markets has announced the release of the second edition of the “Nigeria Web3 Landscape Report 2025.”

Nigeria Raises $43m in Web3 Funding, Leads Africa in Stablecoin Usage – Report

The landmark report reveals a maturing ecosystem that has successfully transitioned from early-stage foundations to a phase of consolidation, marked by a significant investment rebound and Nigeria’s continued dominance as Africa’s leading Web3 developer hub.

Drawing on extensive ecosystem interviews, primary research, and platform data, the 2025 report positions Nigeria as a critical anchor for global Web3 and blockchain adoption. Despite a complex regulatory environment, the nation’s resilient founders and deep talent pool have propelled the ecosystem forward, with on-chain value received rising 56% year-over-year to $92 billion.

“Nigeria’s momentum in Web3 has evolved beyond early adoption into a mature, utility-driven ecosystem, positioning the country as a key force in shaping both local and global web3 economy,” said Tak Lee, CEO and Managing Partner at Hashed Emergent.”

“With strong fundamentals across talent, stablecoin usage, and real-world applications, Nigeria is not only leading Africa’s Web3 growth but is increasingly defining how the continent participates in the global Web3 economy.”

Industry conversations about Web3 in Nigeria can sometimes lean heavily on momentum without fully capturing the structural shifts happening underneath. As the lead researcher of the report, Uchenna Edeoga, Associate, Platform (Africa), Hashed Emergent, stated, “This report aimed to bring more clarity to that picture through research, ecosystem engagement and market insight, highlighting not just the progress being made, but also the opportunities, constraints and signals that matter for the next phase of growth. This will serve as a useful resource for stakeholders looking to understand the ecosystem more deeply and engage it more effectively.”

A Resilient Investment Landscape: Funding More Than Doubles

After a slowdown in 2024, investment activity in Nigeria’s Web3 sector rebounded sharply in 2025. Nigerian founders raised $43 million, more than double the $20 million recorded the previous year. This growth was characterized by a concentration of capital in fewer, high-impact sectors, with scale capital modestly returning at the Series A stage, a clear signal of early ecosystem maturity.

The finance sector emerged as the undisputed leader, capturing 89% of total funding at $38 million, a five-fold increase from 2024. This surge was primarily driven by a wave of stablecoin-focused startups tackling real-world financial problems, including payments, on/off-ramps, and B2B cross-border transactions.
Stablecoins: The New Backbone of Nigerian Finance

Nigeria has solidified its position as a global stablecoin hub. The report highlights a staggering 9,000% growth in stablecoin deposits between 2018 and 2025. In 2025 alone, Nigeria led in 24-hour stablecoin P2P transfer volume on centralized exchanges, reaching $48.2 million.

This shift reflects a broader trend: for many Nigerians, crypto is no longer speculative, it is a practical tool for hedging against inflation and facilitating efficient remittances across regional and global corridors.

Developer Talent: Nigeria’s Competitive Advantage

Nigeria’s developer ecosystem remains its strongest growth signal. The country now accounts for 4% of all global Web3 developers, the highest contribution from any African nation. The talent base is rapidly maturing, recording a 36% year-over-year growth in 2025.

While the ecosystem is expanding, the report notes that 53% of developers have never worked with global teams, highlighting a critical opportunity for better-aligned incentives and international integration to retain top-tier talent.
Regulatory Progress Amidst Implementation Uncertainty

The regulatory landscape in 2025 saw significant milestones, including the SEC Nigeria’s formal recognition of digital assets as securities under the Investment and Securities Act (ISA) 2025. Additionally, a new tax framework has provided much-needed clarity on the treatment of digital assets within the national tax system.

While implementation uncertainty and enforcement gaps remain, the overall trajectory is positive, supported by increasing engagement between Web3 stakeholders and regulators.
Looking Ahead

The Nigeria Web3 Landscape Report 2025 concludes that the nation’s growth trajectory is robust, anchored by technical innovation and entrepreneurial resilience. Hashed Emergent remains committed to backing early-stage founders in Nigeria, providing the capital and strategic mentorship needed to accelerate the nation’s ascent as a global Web3 leader.

The full report was prepared in collaboration with knowledge partners: Quidax, Convexity, Web3bridge, Guild Academy, and Infusion Lawyers.

For more information and to download the full report, visit: https://t.co/iAULsVnATn


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NCC Blames Growing Data Demand Network Quality Issues

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Nigerian Communications Commission (NCC) has linked Quality of Service (QoS) challenges across telecom networks to rising data consumption, stating that operators are ramping up efforts to sustain investments to improve coverage and capacity.

NCC Blames Growing Data Demand Network Quality Issues

Dr Aminu Maida, executive vice chairman, NCC,

Dr Aminu Maida, executive vice chairman, NCC, stated this during a breakfast meeting with the media in Abuja on Friday, where he noted that while service quality is improving, it is yet to meet regulatory expectations.

He said recent data shows positive signals from independent user-based measurements, indicating that network performance is getting better rather than deteriorating.

However, he explained that increased usage is offsetting gains, creating a cycle where improved services trigger higher demand, which in turn puts fresh pressure on infrastructure.

“We’re still not where we want to be, but are we satisfied as a regulator? I would say within the context for which we operate, I think the area of satisfaction is the fact that we’re beginning to see the right signals. But at the same time, we also see a rise in consumption. So it’s like a cycle. As they’re making investments and making upgrades, people are consuming more,” he said.

Maida disclosed that data consumption has risen by about 170 per cent in the last two years, describing the surge as a major factor behind network strain.

The EVC added that operators are responding with increased investments, with site upgrades expected to rise significantly this year to expand both coverage and capacity.

He also highlighted regulatory efforts to improve industry sustainability, including ongoing policy reviews, cybersecurity framework implementation, and collaboration with security agencies to protect telecom infrastructure.

 

 


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FG Pushes Digital Economy Bill to Fast-Track AI, Cloud Adoption

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Nigeria’s drive toward a fully digital economy is gathering pace as the Federal Government intensifies work on e-governance and digital economy bill to strengthen the regulatory framework for emerging technologies and boost public sector innovation.

FG Pushes Digital Economy Bill to Fast-Track AI, Cloud Adoption

The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, CCIE, represented the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, at the Global Partnership for Human-Centric ICT Standardisation (GIST) Nigeria Introductory Stakeholder Workshop in Abuja.

At the Global Partnership for Human-Centric ICT Standardisation (GIST) Nigeria Introductory Stakeholder Workshop in Abuja, the Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa representing the Minister of Communications, Innovation and Digital Economy, Bosun Tijani said the country has moved beyond strategy design to implementation of its national Artificial Intelligence (AI) roadmap.

He noted that the current phase focuses on developing clear guidelines and regulatory frameworks to ensure AI deployment aligns with ethical standards, accountability, and strong safeguards.

As part of the broader digital transformation agenda, the government is also advancing data classification efforts to ensure the availability of clean, reliable datasets for AI training. In parallel, it is promoting cloud adoption across public institutions to enhance efficiency, scalability, and service delivery.

Inuwa stressed the importance of a “cloud-first” policy, warning that continued dependence on premise systems could slow large scale digital transformation. However, he added that cloud integration would be approached cautiously to safeguard Nigeria’s digital sovereignty and protect critical national data.

Progress is also being recorded in the e-governance space, with the development of an interoperability framework and the Nigerian Government Enterprise Architecture. Additionally, work is ongoing on a data exchange platform to support Government Statistics Digital Public Infrastructure (DPI), aimed at improving data sharing and coordination among Ministries, Departments, and Agencies (MDAs).

The initiative is expected to harmonise public sector digital projects while creating opportunities for private sector participation.

Inuwa stressed the need for stronger collaboration among government, industry, and other stakeholders to build resilient digital infrastructure. He expressed confidence that the proposed legislation and related initiatives would enhance Nigeria’s standing in digital governance while promoting innovation, transparency, and inclusive growth.

Earlier, the European Commission’s Team Leader for Digital Governance, Peter Marien DG INTPA, highlighted the role of international cooperation in shaping global digital standards. He said the European Union’s digital strategy prioritises partnerships and ecosystem alignment across regions, including Nigeria and the United Kingdom.

Marien referenced a recent engagement in Brussels on e-governance, organised with Smart Africa, which included participation from NITDA. He described Nigeria’s involvement in the GIST initiative as a strong signal of its commitment to global digital governance.

He emphasised the EU’s focus on a human-centric digital ecosystem that prioritises inclusivity, privacy, and security, noting that its 27 member states have, over two decades, built a cohesive digital framework centred on citizens.

Marien also identified Nigeria as a strategic player in Africa’s quest for a unified digital market, highlighting its role in advancing cross-border digital integration.

According to him, standards serve as the “invisible backbone” of modern societies, supporting critical systems across sectors. He said the GIST platform enables alignment of technical standards and fosters knowledge exchange between regions.


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How Nigerians Are Secretly Using AI to Master Creative Skills Fast

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Google has revealed new insights showing that Nigerians are increasingly leveraging Search and artificial intelligence tools to develop creative skills and explore artistic pursuits in 2026.

How Nigerians Are Secretly Using AI to Master Creative Skills Fast

Google AI

According to the latest trends for March, there is a growing shift toward using technology as a practical assistant for personal growth, learning and creative expression across the country.

Nigeria’s longstanding reputation as a creative powerhouse continues to shape this trend. From the global dominance of Afrobeats to the rise of Nollywood—now ranked as the fifth-largest film industry globally—the country’s cultural influence remains strong. Industry data shows Nollywood’s value is approaching $8 billion, with over 70 per cent of viewership for Nigerian-produced content coming from international audiences. Similarly, Afrobeats continues its global surge, recording more than 13 billion streams annually on platforms like Spotify.

Google’s data indicates that Nigerians are deliberately using digital tools to sharpen their creative abilities. Interest in learning painting has surged by 90 per cent over the past year, while calligraphy has emerged as a breakout trend, reflecting new forms of artistic exploration.

Music-related learning is also on the rise, with searches for guitar lessons increasing by 80 per cent. At the same time, users are exploring emerging AI-powered tools such as Lyria 3, highlighting a blend of creativity and advanced technology.

Beyond the arts, Nigerians are turning to digital tools to broaden global connections. Interest in learning Italian has jumped by 130 per cent, while searches for Japanese language learning have doubled within the past year.

This growing appetite for digital learning is supported by Nigeria’s expanding tech-driven economy. Research by Public First suggests that every dollar invested in digital technology generates more than eight dollars in economic value. The ICT sector has also emerged as a key contributor, accounting for over 16 per cent of the country’s real GDP.

Students and families are equally tapping into AI-powered tools for education. Searches for AI tutors have become a breakout trend, while interest in combining AI with subjects like chemistry has doubled over the past year. Homework-related searches have also risen by 70 per cent.

These developments are being bolstered by improved digital infrastructure, including projects such as the Equiano subsea cable, which significantly increases internet capacity and connectivity across the region.

Commenting on the trend, Taiwo Kola-Ogunlade said it is encouraging to see Nigerians using AI creatively to unlock new opportunities.

He noted that the rise in creative arts and language learning reflects a population actively shaping its future with technology, using AI tools as “24/7 tutors” to build skills and connect globally.

Google added that tools such as Search and Workspace are already delivering measurable productivity gains, with Nigerian knowledge workers saving over 22 million hours weekly—equivalent to an estimated $4.7 billion boost in productivity.

The surge in AI literacy, which has grown by 840 per cent, further underscores a broader shift as Nigerians increasingly integrate technology into their creative, academic and professional lives.


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