Nigeria's corporate rewards hit ₦150B, 79% flows to supermarkets since 2014
Since the start of 2024, Nigerian organisations have issued twice as much reward value as they did in the entire previous decade, pushing the total non‑cash reward value moved through the rewards economy past ₦150 billion over the last ten years, according to SureGifts' 'Beyond Cash' report released today. Employee rewards make up 40 % of this spend, while the majority funds sales incentives, customer loyalty, distributor and channel partner programmes and corporate gifting.
The report shows that 79.1 % of redemption value flows into supermarkets and grocery stores, meaning more than ₦1 in every ₦5 of reward money goes beyond groceries into retail, e‑commerce, electronics, connectivity and household bills. Major users include MTN, NLNG, Leadway, Nigerian Bottling Company and HBM Nigeria Plc, demonstrating that the rewards economy spans multiple sectors rather than being confined to a few.
Although 57 % of decision‑makers say their reward spending has risen over the past three years and 78 % expect to maintain or increase it over the next 12‑24 months, only 29 % formally measure the impact of their programmes. If you are an employee, ask whether your company offers structured rewards; as a consumer, expect more promotions tied to supermarket purchases; as a business owner or manager, consider how reward platforms can drive sales and loyalty, and look for ways to measure the actual behavioural and business outcomes of any incentive spend.