Nigeria’s spending spree propels Jumia to third quarter soaring revenue

Jumia, e-commerce giant closed Q3 2025 with revenue soaring 25 per cent to $45.6 million and marketplace transactions swelling to a GMV of $197.2 million, a surge fuelled overwhelmingly by the spending power of Nigerian consumers.

With a 43 per cent year-on-year jump in GMV, Nigeria delivered the single biggest injection of cash into Jumia’s system, transforming the country into the company’s most lucrative and fastest-growing market.

This sharp rise in financial activity stands out at a time when global e-commerce companies are scaling back due to weak demand and high operational costs.

Jumia, however, is defying the trend by leaning heavily into a locally driven strategy that is converting consumer appetite directly into revenue.

Its hub-and-spoke logistics model, rolled out in early 2024, has widened the company’s money-making footprint across northern and South-South regions where traditional retail options are limited.

That expansion has diversified where Jumia’s cash comes from: urban shoppers now account for 54 per cent of spending, while rural buyers contribute 46 per cent, signalling deeper financial penetration outside big cities.

Temidayo Ojo, CEO of Jumia Nigeria, said the turnaround is rooted in treating each region as its own economic ecosystem.

He said urban buyers generate rapid revenue turnover through high-frequency ordering, while rural shoppers are now injecting new streams of spending into categories like FMCG, beauty, household essentials and fashion, areas that remain resilient even in tough economic cycles.

Jumia’s Q3 performance reflects a company increasingly anchored by Nigeria’s online retail economy, where billions in informal trade continue to shift to digital platforms.

With money circulating faster through its network and demand rising across the country, Jumia’s comeback signals more than a return to growth — it marks the emergence of a Nigeria-driven e-commerce model capable of sustaining long-term profitability.