Electronics market in Nigeria

The Nigerian Electronics eCommerce market is predicted to reach US$589.8 million by 2024 and accounts for 23.2% 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 8.3%, resulting in a projected market volume of US$810.1 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Market development

eCommerce revenue development in the Smartphones market in Nigeria

The Nigerian Smartphones eCommerce market is predicted to reach US$122.3 million by 2024 and accounts for 88.2% of the Telecommunications 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 7.4%, resulting in a projected market volume of US$162.6 million by 2028. The Smartphones eCommerce market is a sub-market of the Telecommunications market. Further categories within the Telecommunications market are: Other Telecommunications, and Smartwatches.

eCommerce revenue development in the Smartphones 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 Smartphones 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

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)86.275.320.30.993.05.162.611.0
as of Telecommunications (in %)1.81.92.02.12.22.22.32.32.42.52.62.7

Online share

eCommerce online share of the total Smartphones 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 Smartphones retail market, the online share is 27.1% and will increase by an average of 17.0% to 51.0% by 2028.

eCommerce online share of the total Smartphones market in Nigeria

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)42.0%11.9%13.5%18.6%95.1%80.6%20.5%76.7%

Market definition

Definition of the Smartphones market within the Electronics market

Market definition: Electronics > Consumer Electronics > Telecommunications > Smartphones The category Smartphones includes the online trade of smartphone devices (e.g. iphone, samsung galaxy, xiaomi redmi) and smartphone cases and accessories (e.g. phone cases and covers, screen protectors). This category does not cover phones (e.g. landline phones, cordless phones, fritz phones) and fitness trackers. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Smartphone devices (e.g. iPhone, Samsung Galaxy, Xiaomi Redmi)
  • Smartphone cases and accessories (e.g. phone cases and covers, screen protectors)

Out-of-scope

  • Phones (e.g. landline phones, cordless phones, fritz phones)
  • Fitness trackers

Market comparison

The Nigerian Smartphones market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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