According to 6Wresearch, Nigeria’s power bank import market in 2024 remained dominated by countries like China, South Africa, Cyprus, France, and India.

Despite this concentration, the market experienced a significant slowdown, with a compound annual growth rate of -6.62% between 2020 and 2024. Furthermore, import growth in 2024 dropped sharply by 25.56%, highlighting the challenging environment for power bank shipments into the country.

Domestic Demand Points to Recovery

Looking ahead, the Nigerian power bank market is projected to reach USD 10.3 million by 2026, growing at a 5.2% CAGR from 2020 to 2026. Analysts note that increasing demand for high-capacity batteries and a rise in disposable income have driven recent market growth, despite the setbacks in import volumes.

Lifestyle Trends Fuel Market Expansion

The report emphasizes that Nigerians spending more time outdoors, engaging in activities such as camping, hiking, and other recreational pursuits is contributing to stronger demand for portable charging solutions. Consequently, brands and importers who align with these evolving consumer habits are likely to capture growth opportunities in the coming years.

Market Outlook: Opportunities Amid Challenges

6Wresearch concludes that while the power bank import sector faces hurdles, rising consumer needs for mobility, convenience, and uninterrupted connectivity offer a pathway for steady market recovery.

Companies focusing on innovative, high-capacity, and user-friendly solutions can capitalize on both current and emerging trends, positioning themselves for sustained growth in Nigeria’s dynamic tech ecosystem.