SureGifts Launches ‘Beyond Cash’ report as Nigeria’s corporate rewards economy hits ₦150 Billion
Twice as much reward value has been issued since the start of 2024 as during the entire preceding decade, while 79.1% of redemption value flows into supermarkets and groceries Nigerian organisations have moved more than ₦150 billion in non-cash reward value through the rewards economy over the past decade, according to Beyond Cash: The State […] The post SureGifts Launches ‘Beyond Cash’ report as…
Nigeria's corporate rewards economy has reached ₦150 billion in non-cash rewards over the past decade, according to a new report titled "Beyond Cash: The State of Corporate Rewards in Nigeria" published by SureGifts. The first report of its kind in the country reveals that the market has grown rapidly, issuing twice as much reward value since the start of 2024 compared to the previous decade.
SureGifts, the leading enterprise rewards and incentives platform in Nigeria, analyzed proprietary transaction data from more than 1,000 corporate organizations and 400 merchants, alongside the Corporate Rewards Pulse 2026 survey of decision-makers.
David Fisayo, SureGifts' Managing Director, explains that corporate rewards were previously treated as an afterthought, often ignored and not properly counted. However, the report highlights that rewards have evolved into a standalone economy, with employee rewards accounting for 40% of total spend. In addition to employee recognition, rewards now support sales incentives, customer loyalty, distributor and channel partner programs, and corporate gifting.
The report challenges the conventional belief that rewards primarily benefit employees, as sales, loyalty, and channel programmes are now running year-round.
Technology and financial services lead the adoption of rewards, but the market spans various industries, with no single sector dominating. Organisations like MTN, NLNG, Leadway, Nigerian Bottling Company, and HBM Nigeria Plc have structured reward programmes in place. SureGifts cards have enabled Campari Group to deliver engaging and impactful reward experiences across promotions, simplifying fulfilment and improving participant satisfaction.
Over 79% of redemption value flows into supermarkets and grocery stores, tying corporate reward budgets to everyday household spending. Beyond groceries, more than ₦1 in every ₦5 flows into retail, e-commerce, electronics, connectivity, and household bills.
Despite the growth in reward spend, only 29% of corporate decision-makers formally measure the impact of their reward programmes, while 57% report increased spending over the past three years, and 78% expect this trend to continue. As spend increases, organisations demand more from reward platforms, seeking greater personalization, better visibility, and clearer evidence of incentive-driven business outcomes.
The report suggests that the market's next phase will be defined by measurement, connecting reward spend to behavior, engagement, and business outcomes.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
