SureGifts Launches ‘Beyond Cash’ report as Nigeria’s corporate rewards economy hits ₦150 Billion

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 of Corporate Rewards in Nigeria, published today by SureGifts, the country’s leading enterprise rewards and incentives platform.

The report, the first of its kind in Nigeria, finds that the market has accelerated sharply: twice as much reward value has been issued since the start of 2024 as during the entire preceding decade.

Beyond Cash draws on SureGifts’ proprietary transaction data across more than 1,000 corporate organisations and over 400 merchants, alongside the SureGifts Corporate Rewards Pulse 2026, a survey of corporate decision-makers.

“For years, corporate rewards were treated as an afterthought: a festive gesture here, a sales incentive there, scattered across budgets and rarely counted,” said David Fisayo, Managing Director of SureGifts. “But somewhere along the way, the numbers stopped looking like gestures. Rewards have quietly become an economy of their own.”

Rewards have outgrown HR

The report challenges the assumption that corporate rewards are largely an employee recognition tool. Employee rewards account for 40% of spend, with the majority now supporting sales incentives, customer loyalty, distributor and channel partner programmes and corporate gifting.

That breadth shows up in timing as well as use case. Sales, loyalty and channel programmes are increasingly running year-round rather than as one-off initiatives.

While technology and financial services are among the strongest adopters, adoption spans the economy rather than clustering in a few industries, with no single sector accounting for even one in five organisations. Structured reward programmes are used by organisations including MTN, NLNG, Leadway, Nigerian Bottling Company and HBM Nigeria Plc.

“SureGifts cards have enabled us to deliver more flexible, engaging and impactful reward experiences across our trade, customer and consumer promotions,” said Kingsley Ogwuche, Commercial Director, West and Central Africa at Campari Group. “The platform simplifies reward fulfilment, improves participant satisfaction and gives recipients freedom of choice, supporting the growth of the Campari portfolio in Nigeria.”

Corporate budgets are funding household shopping

Some 79.1% of redemption value flows into supermarkets and grocery stores, tying corporate reward budgets directly to everyday household spending. More than ₦1 in every ₦5 flows beyond groceries into retail, e-commerce, electronics, connectivity and household bills.

“SureGifts has increased our footfall and expanded our customer base; people who had never shopped with us discovered Jendol through the platform and keep coming back,” said Olabode Abraham, Head of Finance at Jendol Superstores.

“What surprised us is where that value actually lands: not in luxury, but in supermarkets, groceries and the everyday economy,” said Fisayo. “Corporate reward budgets are flowing through employees, customers and channel partners into everyday purchases and ultimately into sales for Nigerian merchants. That is what makes this infrastructure, not just gifting.”

Measurement is the next frontier

Only 29% of corporate decision-makers say their organisations formally measure the impact of rewards programmes, even as 57% report that spending has increased over the past three years and 78% expect to maintain or increase it over the next 12 to 24 months.

As spending grows, organisations are demanding more from reward platforms: greater personalisation, better visibility and clearer evidence of what incentives actually change. The report argues that the market’s next phase will be defined by measurement: connecting reward spend to behaviour, engagement and business outcomes.

About SureGifts

SureGifts is Nigeria’s leading enterprise platform for rewards, incentives and loyalty. Since 2014, it has served more than 1,000 corporate clients and partners with over 400 merchants across Nigeria and Kenya, powering one of Africa’s largest merchant-backed rewards ecosystems.