How large is the Nigerian (or potential) B2C internet-driven market?

1

I know Nigeria is circa 170m people. However, how large is the market for B2C internet-driven businesses?

Lots of anecdotes floating around on potential size for varying disposable income bands. However, the facts are

  1. GDP per capita ~ $3,000
  2. High poverty rate/rather slim middle class

Add to that a difficult place to do business. Is it all hype?

2

There are 25 million people in the middle class

3

Well based on our estimations advertising market is not bigger than 100 Mio usd
if that is the main revenue source for b2c market then yes despite 170 population the market is still small
having said that if macro environment is stable or positive (and i am optimistic after election results even if lots to proof) I think we could easily multiply by 10x that market sie in 10 years
now is the time to play, we 10x size bigger international players will be interested