Stable naira fuels Nigeria’s fastest smartphone rebound in years

Smartphone shipments into Nigeria have rebounded, growing 29% in Q3 2025, on the back of a more stable naira, according to Omdia, a global technology market analyst firm. This is the second straight quarter of recovery, as in Q2, the smartphone market rebounded by 10%, its fastest growth since Q1 2024, as easing inflation, currency stability, and aggressive device-financing schemes helped the sector crawl out of a bruising 2024.

Smartphones remain Nigeria’s primary gateway to the internet. As of September 2025, the country had 140.36 million mobile internet connections. Yet six in ten Nigerians are still offline, largely because smartphones remain expensive, according to GSMA, the global industry body for telecom operators.

Currency volatility remains the biggest pressure point. With almost all devices imported, phone prices swing sharply with the naira. The Central Bank of Nigeria’s 2023 FX reforms triggered a steep currency slide, pushing smartphone prices out of reach and slowing shipments to just 1% in Q3 2024, reversing the 63% surge recorded in Q4 2023.

Telephone imports into Nigeria fell to $467.70 million in 2024 from $704.76 million in 2023. However, the relative stability of the naira, hovering between ₦1,450 and ₦1,500/$ since the beginning of 2025, is beginning to have an effect.

“Nigeria’s market surged 29% as vendors accelerated imports following Naira stabilising and refreshed sub-US$150 portfolios, spurring upgrades in open-market retail,” Omdia said in a statement on Thursday.

This growth is rippling across the continent. Africa’s smartphone shipments jumped 24% year-on-year to 22.8 million units in Q3 2025, ending five quarters of decline. Most major markets posted strong double-digit growth: South Africa (31%), Nigeria (29%), Egypt (19%), and Kenya (17%).

“Africa delivered an exceptional dual surge in Q3 – sub-US$100 smartphones climbed 57%, their fastest rise in three quarters, while the above US$500 grew 52%,” said Manish Pravinkumar, Principal Analyst at Omdia. “The entry tier was supercharged by TRANSSION, which posted 25% year-on-year growth driven by resilient demand across Algeria, Egypt, Morocco, Nigeria, Kenya, and South Africa.”

Despite this, Pravinkumar predicts that Africa’s smartphone market will contract by 6% in 2026 as supply-side pressures mount.   

“Rising BOM (Bills of Materials) costs, tight memory availability, elevated shipping and insurance fees, and persistent currency weakness will disproportionately affect the low-end 4G segment, where most African demand is concentrated,” he added.

For now, Nigeria and by extension Africa appear to be in the clear, and hopefully this translates into higher smartphone ownership, especially as its policy makers ramp up plans to deliver smartphones priced between $30 and $40  to its 600 million people living within reach of 3G or 4G networks but have never used the internet.