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# Nigeria recorded 439 million in PoS transaction volume and ₦3.2 trillion in transaction value in 2019
- URL: https://www.techloy.com/nigeria-recorded-439-million-in-pos-transaction-volume-and-n3-2-trillion-in-transaction-value-in-2019/
- Published: 2020-01-24T00:00:00.000Z
- Updated: 2022-05-07T23:26:32.000Z
- Author: Techloy
- Tags: / Insights, pos, nibss, Tech in Nigeria

Nigeria reached a record number of successful Point of Sale (PoS) transactions from 285.9 million transactions in 2018 to 438.6 million transactions in 2019, representing a 53.5% growth rate in POS transaction volume when compared to 2018, according to the latest statistics from Nigeria Inter-Bank Settlement System (NIBSS).

![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/2022/05/1_epwx9HYhKxvlKxZkPQaJVw.png)

The value of transactions processed across PoS channels in Nigeria hit ₦3.2 trillion in 2019, up from ₦2.3 trillion in 2018, an increase of 37.9% from the previous year. **Techloy*’s analysis further notes that February 2019 saw the lowest value of PoS transactions at ₦193.4 billion recorded in the year, perhaps due to the uncertainties with the Nigeria 2019 elections, while December 2019 recorded the biggest value of transactions at ₦372.7 billion, likely because of the holiday shopping season.

![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/2022/05/1_W1WMzJLFpyY-TagKf5PoWQ.png)