Web3 Funding In Nigeria Doubles To $43m In 2025 – Report

Nigeria’s Web3 ecosystem is on an upward trajectory as it’s entering a phase of maturity, driven by renewed investment, expanding developer talent, and increased real-world adoption of blockchain solutions.

The second edition of the Nigeria Web3 Landscape Report 2025 by Hashed Emergent shows that the ecosystem has moved beyond early-stage experimentation into consolidation, with Nigeria maintaining its position as Africa’s leading Web3 developer hub.

The report underscored that the on-chain value received in Nigeria rose by 56 per cent year-on-year to $92 billion, reflecting growing adoption despite a complex regulatory environment.

Chief Executive Officer/Managing Partner at Hashed Emergent, Tak Lee, disclosed that the country’s Web3 growth is now driven by utility rather than speculation.

“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,” he said.

He, however, added, “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”

The report further highlighted a strong rebound in investment activity, with Nigerian Web3 startups raising $43 million in 2025, more than double the $20 million recorded in 2024. Funding was largely concentrated in high-impact sectors, with the finance segment accounting for 89 per cent of total investments.

A significant driver of this growth is the rising adoption of stablecoins, which the report describes as the backbone of Nigeria’s digital finance ecosystem. Stablecoin deposits surged by 9,000 per cent between 2018 and 2025, while 24-hour peer-to-peer transfer volumes reached $48.2 million in 2025.

Lead researcher of the report and associate, platform (Africa) at Hashed Emergent, Uchenna Edeoga, said the study provides deeper insight into the evolving ecosystem.

“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,” he said.

Presently, Nigeria accounts for four per cent of global Web3 developers, on the talent front and the highest in Africa, with a 36 per cent year-on-year growth recorded in 2025. However, the report noted that 53 per cent of developers have yet to work with global teams, signalling a need for stronger international integration.

The regulatory environment also showed signs of progress, following the recognition of digital assets as securities by the Securities and Exchange Commission of Nigeria under the Investment and Securities Act 2025, alongside the introduction of a new tax framework for digital assets.

While implementation challenges persist, the report noted improving engagement between regulators and industry stakeholders, pointing to a positive outlook for the sector.

Consequently, Hashed Emergent reaffirmed its commitment to supporting early-stage founders in Nigeria, noting that sustained investment, policy clarity, and talent development will be critical to consolidating the country’s position as a global Web3 leader.