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Nigerian Corporate Rewards Market Tops N150bn as Non-Cash Incentives Surge

Nigeria’s corporate rewards sector has experienced a massive surge, recording over N150 billion in non-cash incentive value over the last decade. A report by SureGifts reveals that the volume of rewards issued since the start of 2024 alone is double that of the previous ten years combined. While employee benefits make up 40 percent of this spending, the remainder supports customer loyalty, sales incentives, and channel partner programs. Notably, nearly 80 percent of these rewards are redeemed at supermarkets and grocery stores, indicating that corporate budgets are directly influencing household consumption patterns. Despite rising expenditure, only 29 percent of companies currently measure the business impact of their reward programs.

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