Smartphones have become central to how Nigerians live, work, and earn. What began as a communication tool has evolved into a source of livelihood for millions, with mobile phone dealers playing a key role in keeping the market moving.
Reports show that Nigeria will surpass 140 million smartphone users by the end of 2025, underlining how mobile devices now drive both the economy and everyday survival.
Broadband penetration is also on the rise, improving the potential for mobile-driven commerce. Nigeria’s broadband coverage increased from 44.43% at the end of 2024 to 48.81% in May 2025, further supporting the digital ecosystem dealers rely on to reach consumers and sustain their businesses.
For dealers, this growth represents opportunity but also pressure, as the market remains highly sensitive to currency swings. The 2023 CBN reforms triggered a sharp naira depreciation, making devices more expensive and margins tighter.
Despite these challenges, phone retailing remains one of the most active sectors in the country. Dealers have built intricate distribution networks linking manufacturers, wholesalers, and consumers, allowing them to meet rising demand even amid economic volatility. Lagos continues to anchor this trade, serving as the primary hub for mobile-device sales and distribution in Nigeria.
This article spotlights 5 owners of major phone stores in Nigeria, unpacking the stories behind their businesses and their number of stores.