Nigeria, due to its massive population, has been an investment destination for entrepreneurs and investors from across the world who seek to gain value for their investments. The rising population of Nigerian youth is the same reason why smartphone producers have remained in the Nigerian market. Truly, the early 2000s GSM revolution ensured provision of jobs and services for millions of people, up till date, through the rapidly expanding telecoms market. However, almost all the smartphones sold in the country are imported.
A report titled “The Telecommunications Industry in Nigeria 2022” says over 60 million phones are sold every year in the country, with Asian manufacturers dominating the mobile market. Although there are brands from other countries, most of the brands found in the Nigerian mobile market are owned by the Chinese with brands of more than 300 models in the past one and half decade. Some of these phone brands are Tecno Mobile, Huawei, Nokia, Samsung, Gionee, Panasonic, Apple, HP, Wiko, Oppo and others.
Nigeria, with 200+ million population, has 226 million subscribers.
Industry stakeholders have stated that the Nigerian Communications Commission (NCC’s) inability to enforce and implement standards for every telecommunications equipment in the country has paved the way from diverse kinds of substandard smartphones. Availability of these substandard smartphones have largely expanded their market. Another category of smartphones in the market are stolen phones. Nevertheless, this industry has provided job opportunities, as many Nigerian youths now repair phones for a living, given the massive number of phone users in the country.
Operators in the industry believe that Nigeria would have gained massively if the mobile market was created in a way that encourages local entrepreneurs to build smartphone factories in the country with enough capacity to provide employment for a good number of the youth population. As at February 2023, Nigeria had about 226 million subscribers with a population of 200+ million. The unstable nature of the Nigerian economy has also proven that the telecoms sector is growing with a capacity enough to drive the country towards a digital economy.
In 2022, Nigeria spent $2.35 billion on smartphones importation.
With the increasing rate of poverty in Nigeria, telecom industry operators have highlighted the difficulty in overcoming the battle against the inflow of used and counterfeit phones in the country. Report has it that the shipment of these used smartphones attained 282.6 million units in 2022, an 11.5 percent increase of 253.4 million units in 2021. Last year (in 2022), the International Trade Centre (ITC) asserted that Nigeria spent about $2.35 billion dollars on importation of smartphones in three years.
The cashless policy of the Central Bank of Nigeria (CBN), according to industry operators, is one of the government’s policies creating expansion of the coverage of smartphones, apps and services. The cash withdrawal policy served as a compellation for Nigerians to adopt online banking transactions. A smartphone dealer in Computer Village, Ikeja, Mr. Sunny Iroegbu, said that the policy made many Nigerians purchase phones that have more internet capability between January and March, this year.
There will be a 60 percent growth in smartphone users in 2025.
By 2025, there is a projection that the number of smartphone users in the country will increase to over 140 million. Although there are about 170 million subscribers in Nigeria, the number of smartphone users are around 25 and 40 million. The predicted growth of smartphone users in 2025 is about 60 percent more than the current number. This data reflects a strong growth outlook for the country’s smartphone market as it presents strong growth opportunities for feature phone and manufacturers of smartphones too. Mobile technologies are contributing to facilitation of a connected continent.
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The Nigerian telecommunications market. – 60 million phones are sold in the country every year, mostly Asian brands. – Express your point of view.
The Nigerian telecommunication market is a vibrant and dynamic market that presents immense opportunities for both local and foreign investors. The dominance of Asian brands in the market is a testament to their ability to cater to the needs of local consumers, but there is still room for local brands to thrive by offering unique and affordable products.
The telecommunication market is one thriving business in Nigeria. And it is helping the country generate more revenue. I hope we don’t also sell fake phones to people.
The Nigerian telecommunications market. 60 million phone is sold in Nigeria that is big numbers. Like seriously, this is massive. So many people are using phone in Nigeria. Nigeria will generate more revenue on it
The telecommunications industry has really done lots of good to both the Nigeria citizens and the economy of the country.It has really change scope of communication and also provide job there by boosting the economy this coming to the country.
Nigeria mobile market now can not be compared to anything with its level of robustness and opportunities that it present. It’s a truly deserving industry that was driving by the massive population.
A huge number of phone it show many people are using phone and this serve as revenue for the country the more people buy the phone the more income the country get
The Nigeria telecommunication market is now great cause the rising population of Nigerian youth is the same reason why smartphone producers have remained in the Nigerian market.
The projection that the number of smartphone users in the country will increase to over 140 million buy 2025 is a thing to anticipate and will develop the mobile market in Nigeria more in addition to the current progress.
In the telecommunication industry, Nigerian market is one of the largest because we have the population. 60 million phones are sold in the country every year which are mostly Asian brands. It will be better if we can have industries where phones are manufacture in Nigeria. It will create jobs opportunities and generate revenue for the country rather than enriching other countries.
Yearly, 60 million phones are sold in the country which are mostly Asian brands. It is an indication that we have the population and we can dictate the telecom market in Nigeria. Having a phone factories here in Nigeria is not bad, it will generate revenue for the country and create jobs opportunities for the masses.