Nigeria’s Web3 and blockchain sector recorded significant expansion in 2025, with total funding rising to $43 million, more than twice the $20 million recorded in 2024.
This was revealed in the Nigeria Web3 Landscape Report 2025 published by Hashed Emergent, a venture capital firm focused on supporting blockchain startups across Africa and other emerging markets.
The report showed that Nigeria has become a leading force in the global Web3 space, particularly in stablecoin usage, where it now records the highest daily peer-to-peer transaction volume on centralised exchanges at $48.2 million.
It described the country’s Web3 industry as transitioning from early experimentation into a more mature and structured ecosystem, driven by increased investment, growing developer participation, and wider real-world use cases.
Nigeria was also noted to contribute about 4 percent of global Web3 developers, the highest in Africa, with the developer base growing by 36 percent year-on-year in 2025.
According to Hashed Emergent’s Managing Partner and CEO, Tak Lee, Nigeria’s progress reflects a shift from early adoption to a utility-focused digital economy, positioning the country as a major player in both African and global Web3 development.
The report also highlighted that investment activity rebounded strongly in 2025 after a slowdown the previous year, with funding becoming more concentrated in high-impact sectors and early signs of renewed growth in Series A-stage investments.
The financial sector dominated Web3 funding in Nigeria, accounting for about 89 percent of total investment, largely driven by startups focused on stablecoins, digital payments, cross-border transfers, and crypto-to-fiat services.
Nigeria’s role in the global stablecoin market also continued to grow, with deposits increasing significantly between 2018 and 2025, as digital assets are increasingly used for practical financial needs such as remittances and inflation protection rather than speculation.
