Advances in e-commerce have resulted in significant progress towards strategies, requirements and development of e-commerce applications in Nigeria. However, nearly all e-commerce applications envisioned and developed so far assume fixed or stationary users with wired infrastructure. Now that our daily transactions have gone mobile, E-commerce has also joined the band wagon, resulting in the ability to carry out commerce while on the move via mobile devices (phones, PDA`s etc.). This is referred to as Mobile Commerce (M-commerce), the technology that holds great promises and challenges for both business and consumers alike. In this research, we consider the practice of Mobile Commerce in Nigeria, its enabling technologies and emerging applications. We envision many new e-commerce applications that will be possible and significantly benefit from emerging wireless and mobile networks. We also consider M-commerce success factors, prospects, challenges and future trends.