Consumer Electronics

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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

Untapped Potential: Invest in White Goods & Consumer Electronics Market in IPR, Nigeria

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.

FACILITIES IN IPRFZ Consumer Electronics