Nearly Half Are Students, DeFi and Payments Dominate
Nigeria has officially emerged as Africa’s Web3 powerhouse, surpassing 1.1 million developers in 2024 and accounting for 4% of new Web3 developers globally, according to the newly released Nigeria Web3 Landscape 2024 Report by venture capital firm Hashed Emergent.
This surge marks a 28% year-over-year (YoY) growth in Nigeria’s Web3 developer ecosystem, building upon an explosive 46% increase in 2023 when the country recorded 870,000 developers. With a projected compound annual growth rate (CAGR) of 7.6% from 2024 to 2030, Nigeria is poised to maintain its momentum and leadership in the African blockchain space.
Youth-Led Growth: 86% of Developers Are Under 27
The report highlights the demographic makeup of this growing community:
- 86% of developers are under the age of 27
- Over half joined the Web3 space within the past year
- Nearly 50% are students, demonstrating the impact of youth-led innovation in Nigeria’s blockchain movement
Grassroots initiatives have played a significant role in onboarding talent. Organizations such as Web3Bridge, Web3Ladies, and developer bootcamps from Solana and Base were cited as key enablers of this growth.
Female participation has also increased steadily, with women now representing 17% of Nigeria’s Web3 developer ecosystem, up significantly over the past three years.
What Nigerian Developers Are Building
Among the 800 developers surveyed:
- 39% are actively contributing code
- 29% contribute to documentation
- 18% are involved in bug fixes
- 65% are participating in community building, technical writing, or organizing meetups
In terms of industry focus:
- 35% of developers are building in DeFi and payments, reflecting Nigeria’s demand for financial solutions amid ongoing currency instability
- 24% focus on gaming and NFTs
- 21% are working on consumer applications and SocialFi platforms
The report also noted the rise of blockchain infrastructure startups and increased experimentation on multiple chains, with Nigerian developers working on:
- Solana
- Ethereum
- Base
- Starknet
- TON
- Polygon
- BNB Chain, among others
Developer Stack: JavaScript, Solidity Dominate
As Nigeria’s developer community transitions from Web2 to Web3, JavaScript remains the most widely used programming language, favored by 50% of respondents for its accessibility and wide application. Meanwhile, 21% of developers use Solidity, primarily for building on Ethereum and other EVM-compatible chains.
Compensation Gaps and Work Realities
Despite impressive participation numbers:
- Only 15% of developers have full-time roles in Web3 companies
- The majority work as freelancers
- 45% receive payments in stablecoins, a reflection of both borderless blockchain work and the volatility of the Nigerian naira
However, the compensation gap remains significant:
- 90% earn below global developer standards
- Only 12% report satisfaction with their earnings
This disparity underscores the urgent need for better access to global opportunities and infrastructure support for Nigerian developers.
Founders and Future Growth
- 6% of respondents identified as founders, a 35% increase over previous years
- 41% of developers are either employed or freelance, while the student demographic continues to dominate
Uchenna Edeoga, Platform Associate at Hashed Emergent and the lead author of the report, emphasized the need for continued support:
“To sustain and accelerate Nigeria’s Web3 ecosystem momentum, stakeholders can focus on strengthening developer pipelines. Expanding initiatives like developer bootcamps, hackathons, and building an active developer community can further grow this base.”
Why This Matters
Nigeria’s rise is not just a regional story—it’s a global signal. The country’s youth-driven, community-powered, and rapidly scaling developer ecosystem is setting the pace for blockchain adoption in emerging markets. As blockchain continues to redefine global finance, identity, and infrastructure, Nigeria is shaping up to be one of the key innovation hubs to watch.
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