Banking and fintech applications have reached 88 per cent of smartphone users in Nigeria, highlighting the rapid growth of digital financial services across the country.
The finding is contained in the Nigeria Smartphone Study 2025, conducted by KPMG Nigeria and Orange Group and released in September 2026. The study surveyed 13,251 respondents across 12 major Nigerian cities to examine smartphone ownership, app usage and digital consumption patterns.
According to the report, banking and fintech applications were the second-most popular category of apps among Nigerian smartphone users, coming behind social media and communication platforms, which recorded 98 per cent penetration.
Productivity applications followed with 85 per cent, while streaming and music platforms recorded 82 per cent usage.
The report identified OPay, PalmPay and Moniepoint among the leading banking and fintech applications used by Nigerians. OPay had the highest individual penetration in the study, appearing on 69 per cent of smartphones surveyed, while PalmPay recorded 29 per cent.
The growing adoption of fintech applications reflects the increasing use of mobile phones for everyday financial activities, including transfers, payments, digital wallets and personal financial management.
The report also linked the expansion of digital financial services to financial inclusion, as mobile platforms provide alternatives to traditional banking infrastructure.
The findings highlight the increasingly important role smartphones are playing in Nigeria’s financial system, as consumers and businesses continue to rely on digital platforms for faster and more accessible financial transactions.
