Nigeria’s worsening cost-of-living crisis is accelerating a shift toward flexible work as millions of people seek additional income streams to cope with rising prices, highlighting how digital labour platforms are becoming an increasingly important part of the country’s economy, Teddy Appa-Dankyi, senior general manager, Bolt, West Africa, has said.
The country’s gig economy now contributes about $5.17 billion annually, or roughly 2.8 percent of gross domestic product, according to a new study commissioned by ride-hailing platform Bolt and conducted by Ipsos. Ride-hailing alone accounts for nearly one-quarter of all gig work in Nigeria, underscoring the sector’s growing role in providing income opportunities outside traditional employment.
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The findings come as high inflation, weak purchasing power and limited formal job creation continue to squeeze Nigerian households, forcing many workers to combine salaried jobs with freelance or platform-based work.
According to Appa-Dankyi, the conversation around Nigeria’s economy often centres on inflation, unemployment and the rising cost of living, adding that these are real challenges that continue to shape the financial decisions of millions of households.
Yet amid these pressures, the senior general manager posited that, another story is unfolding, one of resilience, adaptability and the growing role of flexible work in helping Nigerians navigate an increasingly uncertain economic environment.
“Across the country, more people are looking for ways to supplement their income, manage unpredictable expenses and build greater financial resilience. For many, this no longer means choosing between a traditional job and entrepreneurship. Instead, it means embracing multiple income streams that provide flexibility and control over when and how they earn.
This shift reflects a broader transformation in the nature of work,” he explained.
To Appa-Dankyi, the gig economy is no longer a niche segment of the labour market, as it has become an increasingly important component of Nigeria’s economic landscape, creating opportunities for individuals to earn on their own terms while contributing to sectors that keep cities moving and businesses operating.
Reacting to the findings of the Bolt’s Gig Economy Report, Appa-Dankyi said Nigeria’s gig economy contributing about $5.17 billion annually, or roughly 2.8 percent of gross domestic product, tell a bigger story than economic contribution alone as they demonstrate that flexible work is increasingly becoming a practical response to today’s economic realities.
Inflation has fundamentally changed household budgeting. Expenses that were once manageable now require more careful planning, while unexpected costs can quickly strain family finances. In this environment, the ability to generate additional income without committing to a second full-time job has become increasingly valuable.
For many Nigerians, ride-hailing offers exactly that flexibility, the senior manager said, adding that some use it as their primary source of income, while others combine it with small businesses, professional careers or other entrepreneurial activities.
The defining characteristic is choice. Individuals can decide when they want to earn, how often they drive and how they balance work with other responsibilities. This flexibility is particularly important because financial resilience looks different for different people.
“A parent may need additional income to support school fees. A graduate may use platform work while searching for permanent employment. An entrepreneur may rely on ride-hailing to generate cash flow while growing a business. These are not identical stories, but they share a common thread: flexible earning opportunities create options at a time when options matter most,” Appa-Dankyi said.
Technology has made this possible by lowering barriers to participation. Digital platforms connect people to economic opportunities more efficiently than ever before while providing access to tools that help them work safely and manage their activities with greater confidence.
However, supporting platform workers requires more than simply providing access to technology. As the gig economy matures, the conversation must evolve from how many people participate to how platforms can create long-term value for those who do. That means investing continuously in safety innovations, improving support systems, strengthening dispute resolution processes, expanding access to driver benefits and developing products that respond to the realities of those who depend on platform work.
“At Bolt, we believe that building sustainable mobility means building sustainable earning opportunities. Over the years, we have continued to invest in technologies and initiatives that improve safety, enhance the driver experience and simplify how people engage with our platform. From introducing new in-app safety features and AI-assisted support tools to expanding driver wellbeing initiatives, our focus remains on creating an ecosystem where earning opportunities are supported by meaningful innovation,” Appa-Dankyi disclosed.
No single platform can solve Nigeria’s broader economic challenges. Addressing unemployment, inflation and economic growth requires coordinated efforts from government, the private sector and civil society. What digital platforms can do, however, is create opportunities that complement existing sources of income, improve economic participation and provide individuals with greater flexibility in navigating uncertain times.
Read also: Bolt turns everyday rides into N5m lifeline for vulnerable children
“That is why conversations about the future of work should move beyond debates about technology alone. They should focus on how innovation can expand opportunity, strengthen household resilience and support inclusive economic growth,” Appa-Dankyi asserted.
As Nigeria continues to adapt to changing economic realities, flexible work will play an increasingly important role in helping people not only earn an income, but also build greater financial stability, he said.
Ultimately, the future of work is not simply about replacing traditional employment. It is about creating more pathways for Nigerians to participate meaningfully in the economy, and ensuring those pathways continue to evolve in ways that deliver value for workers, businesses and society alike.
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