Electronics market in Nigeria

The Nigerian Electronics eCommerce market is predicted to reach US$511.0 million by 2024 and accounts for 23.0% of the total eCommerce market in Nigeria. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.0%, resulting in a projected market volume of US$696.0 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Monthly revenues

Monthly eCommerce revenues in the Nigerian Consumer Electronics market

The monthly eCommerce revenue of the Nigerian Consumer Electronics market was US$31 million in October 2024. This refers to a growth of 9.2% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in November 2023 with 9.7% of the total 2023 revenue of the Nigerian Consumer Electronics market and the lowest in May 2024 with 7.1% of the total 2024 revenue.

Revenue Last Month

US$31.1m

The eCommerce revenue grew by 9.2% from September 2024 to October 2024.

10-2024+9.2%

Monthly revenue shares in the last 12 months

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

0-20241-20242-20243-20244-20245-20246-20247-20248-20249-202410-202411-2024
Revenue (in mUS$)0.00.00.00.00.00.00.00.00.00.00.00.0
Monthly revenue share (in %)25.947.546.34.349.452.16.745.297.762.229.475.6

Market development

eCommerce revenue development in the Consumer Electronics market in Nigeria

The Nigerian Consumer Electronics eCommerce market is predicted to reach US$344.0 million by 2024 and accounts for 67.3% of the Electronics eCommerce market in Nigeria. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 7.2%, resulting in a projected market volume of US$455.1 million by 2028. The Consumer Electronics eCommerce market is a sub-market of the Electronics market. Further categories within the Electronics market are: Electrical Appliances.

eCommerce revenue development in the Consumer Electronics market in Nigeria

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Consumer Electronics market in Nigeria

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)5.944.79.336.354.871.328.084.8

Online share

eCommerce online share of the total Consumer Electronics market in Nigeria

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Nigerian Consumer Electronics retail market, the online share is 27.2% and will increase by an average of 17.0% to 51.0% by 2028.

eCommerce online share of the total Consumer Electronics market in Nigeria

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)68.0%95.2%96.2%9.3%32.3%24.5%58.6%18.4%

Top stores

Top five Consumer Electronics online stores in Nigeria by net sales 2023

With sales in the Nigerian Consumer Electronics market, jumia.com.ng generated a revenue of US$8.5 million in 2023, which means it is the leading online store in this market. The Consumer Electronics ranking of Nigeria is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.

eCommerce net sales generated in the Consumer Electronics market in Nigeria in 2023

in million US$

Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed

Source: Annual report, secondary sources, ECDB analysis

Filtered revenue / share
Global revenue
Growth
no-access-0
US$900.0m
20.7%
US$8,300.0m8.3%
no-access-1
US$550.0m
12.0%
US$4,600.0m12.4%
no-access-2
US$470.0m
3.9%
US$1,190.0m33.6%
no-access-3
US$430.0m
20.6%
US$2,122.0m18.0%
no-access-4
US$370.0m
20.7%
US$1,814.0m12.6%

See further stores

Worldwide - Consumer Electronics Nigeria - Consumer Electronics Nigeria - All Categories

Market definition

Definition of the Consumer Electronics market within the Electronics market

Market definition: Electronics > Consumer Electronics The category Consumer Electronics includes the online trade of computers, TVs, smartphones, and more. Online stores dedicated to the sale of household appliances, personal care appliances or mobile contracts and tariffs are not considered. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Computers
  • TVs
  • Smartphones
  • Cameras
  • Headphones
  • Loudspeakers
  • Printers
  • Scanners
  • Game Consoles
  • Wearables

Out-of-scope

  • Household appliances
  • Personal care appliances
  • Mobile contracts and tariffs
  • Set-up and installation services
  • Software

Select sub-category