Nigeria’s Web3 ecosystem recorded significant growth in 2025, attracting about $43 million in investment funding, more than double the $20 million recorded in 2024.
This is according to a new industry report by venture capital firm Hashed Emergent, which focuses on supporting blockchain startups across Africa and emerging markets.
The report, titled Nigeria Web3 Landscape Report 2025, shows that Nigeria continues to strengthen its position as a leading hub in the global blockchain and digital asset space. It also revealed that the country now leads globally in daily stablecoin peer-to-peer (P2P) transaction volume, hitting about $48.2 million on centralized exchanges.
The ecosystem is described as increasingly mature, moving from early experimentation into consolidation, driven by rising investment inflows, increased developer participation, and expanding real-world use cases.
According to the report, Nigeria contributes about 4% of global Web3 developers—the highest in Africa—with its talent pool growing by 36% year-on-year in 2025. This highlights the country’s growing role in blockchain innovation and software development.
Speaking on the findings, CEO and Managing Partner of Hashed Emergent, Tak Lee, said Nigeria is becoming a major force in the global Web3 economy, driven by strong fundamentals in talent, stablecoin adoption, and real-world applications.
He noted that the country’s ecosystem has moved beyond early adoption into a more utility-driven phase, positioning it as a key player in shaping both African and global Web3 development.
The report also showed that investment activity rebounded strongly in 2025 after a slowdown in 2024, with funding more than doubling. It noted that capital is now increasingly concentrated in high-impact sectors, particularly early-stage startups with potential for scaling.
The financial services segment dominated Web3 investment in Nigeria, accounting for about 89% of total funding, estimated at $38 million. This was driven largely by startups focused on stablecoin payments, cross-border transfers, and crypto-to-fiat solutions.
Nigeria’s position as a stablecoin hub also strengthened significantly, with deposits reportedly increasing by over 9,000% between 2018 and 2025. In 2025 alone, the country recorded the highest global 24-hour P2P stablecoin trading volume.
The report added that digital assets in Nigeria are increasingly being used for practical financial needs such as inflation protection and remittances, rather than speculation.
