- Nigerian small businesses lead 18 markets in crypto, stablecoin and cybersecurity adoption, Mastercard Dreamonomics report finds
- More than a third of Nigerian SMEs (34%) accept cryptocurrency, over twice the next-highest market, and 83% are excited about what AI can do for their business
- Eight in 10 Nigerian SMEs (81%) say cyber protection is a high priority, with 47% already using cybersecurity tools, the highest of the 18 markets surveyed
Nigeria’s small and medium-sized enterprises (SMEs) are among the most advanced adopters of new payment methods and cybersecurity tools in the world, according to Mastercard’s new Dreamonomics report. Nigeria’s business owners rank highest of 18 global markets surveyed for accepting cryptocurrency, paying business expenses in both cryptocurrency and stablecoins, and using cybersecurity tools to protect what they are building.
The Mastercard research shows that 34% of Nigerian SMEs now accept cryptocurrency as payment, well above the global average of 13%. Just over a fifth (22%) use cryptocurrency to pay business expenses, compared with 7% globally.
Stablecoins are following the same path, with 23% of Nigerian SMEs accepting them, and 11% using them to settle business expenses, the highest of any surveyed market.
Gabriel Swanepoel, executive vice president and division president, Africa at Mastercard, said: “Nigerian entrepreneurs have always been quick to put new technology to work when it helps them serve a customer or pay a supplier, and this research shows how far that instinct now reaches. Digital assets, AI and cybersecurity are already part of how many Nigerian businesses run from day to day, which gives the country a real opportunity to shape how the next generation of payments serves small businesses. Mastercard wants to make sure that momentum is built on trust, security and simplicity, so it keeps growing.”
Key insights for Nigeria from the Dreamonomics report
- Security built in from the start. Nearly half of Nigerian SMEs (47%) already use cybersecurity tools such as antivirus software and firewalls, the highest of any surveyed market and above the global average of 37%.
- Cyber protection is a priority. Protecting the business from cyber threats is a high priority for 81% of Nigerian SMEs.
- Trust in financial providers. More than four in 10 (45%) would be very interested in cybersecurity services, software or risk assessments from their financial provider, the highest of any market surveyed.
- Optimism about AI. More than eight in 10 (83%) are excited about the possibilities AI opens up for their business, well above the global figure of 70%.
- AI that protects the business. Nearly six in 10 (59%) are interested in AI-powered fraud and security protection from their financial provider, the highest of the 18 markets and well ahead of the 41% global average.
- Tools that work together. The vast majority (82%) say it is critical that their business tools are connected and work well together.
- A strong appetite for growth. Half of Nigerian SMEs (51%) prioritize predictability over fast growth, compared with 68% globally, and 31% say they avoid risks to keep their finances predictable, against 54% globally. Both figures are the lowest of all 18 markets, placing Nigerian entrepreneurs among the most growth-focused in the study.
The Dreamonomics results build on the Nigeria edition of the Mastercard SME Confidence Index released earlier this year, in which every SME surveyed (100%) agreed that digital and online payments are important to growing their business. They also arrive as Nigeria’s digital asset landscape continues to take shape. In August, the Central Bank of Nigeria opened applications for the second cohort of its Regulatory Sandbox Programme, which includes a dedicated track for virtual asset service providers covering areas such as fiat-backed stablecoin payments, giving companies a way to test new solutions under regulatory supervision.
Mastercard is already supporting that momentum in Nigeria. Mastercard and Busha, a pan-African digital asset exchange, brought Mastercard Crypto Credential to Nigeria, enabling eligible users to send and receive supported digital assets using a verified alias such as an email address or phone number in place of long blockchain addresses. The collaboration brings added trust and simplicity to the kind of digital asset transfers a growing share of Nigerian SMEs already make.
As small businesses prepare for what growth may demand next, Mastercard brings the connected system of insights, tools and solutions to help SMEs power every payment, protect every step and propel every dream — support for the realities of running and growing a business today.
Globally, the Dreamonomics report finds that SMEs are redefining growth as steady, well-protected momentum, with 68% prioritizing stability and predictability over fast growth, 89% wanting to adopt more digital tools and 71% naming protection from cyber threats as a priority.
More insights from the report are available here.
About the report
The Dreamonomics report is based on an online survey conducted by Hypothesis on behalf of Mastercard among more than 6,000 owners and senior decision-makers of SMEs with fewer than 250 employees across 18 markets, including Nigeria, in February and March 2026.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
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