$23.9 Bn
Forecast
$3097 Mn
Import Reliance
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Refrigerators, air conditioners, washing machines, and cookers are in high demand, particularly with rising disposable income and focus on convenience
Refrigerators, air conditioners, washing machines, and cookers are in high demand, particularly with rising disposable income and focus on convenience
$23.9 Bn
Forecast
$3097 Mn
Import Reliance
Nigeria's consumer electronics and white goods market is experiencing explosive growth, fueled by a potent mix of demographics and digital transformation. The nation boasts Africa's largest population, exceeding 218 million according to the World Bank (2023 data), with a thriving middle class that has growing disposable income. Industry reports project this to translate into a consumer electronics and white goods market reaching a huge staggering market size. In Nigeria, it is projected to grow by 6.32% (2024-2028) resulting in a market volume of US$23.9bn in 2028.
Furthermore, Nigeria is witnessing a tech-savvy population with over 100 million internet users as per Jumia reports (2023). This fuels a surge in demand for smartphones, laptops, and other consumer electronics. The youthful demographic further amplifies this trend, with a high digital adoption rate creating a hungry market for cutting-edge electronics.
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