The price of Level-of-Sale (PoS) terminals in Nigeria has surged between 2023 and 2025, with will increase starting from 30% on the low finish to as a lot as 100% for high-end units.
The leap, pushed by inflation, international alternate pressures, and better logistics prices, is reshaping the enterprise mannequin of Nigeria’s fast-growing company banking sector.
Whereas entry-level PoS machines that when value about N15,000–N20,000 now go for round N21,500, extra superior Android and good terminals have doubled in worth, rising from N30,000–N40,000 to between N62,000 and N85,000.
The worth will increase come whilst demand for PoS providers continues to develop, notably in underserved areas the place the machines function the first gateway to {financial} providers.
The expansion in demand has seen the variety of registered PoS terminals in Nigeria leap to eight.3 million as of March 2025, in keeping with information from the Nigeria Inter-{Bank} Settlement Methods (NIBSS).
Whereas some industrial banks additionally supply PoS to their prospects on demand, the PoS market in Nigeria is dominated by fintech firms, that are aggressively pushing out the units as they onboard extra brokers.
An official from one of many nation’s main fintechs, who spoke on situation of anonymity, mentioned the rise in prices is unavoidable attributable to foreign money volatility and rising logistics bills.
“The greenback price is a significant component in all these. Presently, there is no such thing as a domestically produced PoS; all are imported, and the worth has to mirror the alternate charges.
“Even the costs you see immediately aren’t the true reflection of the related prices as a result of a few of us are extra involved about {financial} inclusion, and we’ve to do every little thing attainable, together with bearing some prices to make sure that PoS terminals stay inexpensive,” he mentioned.
Mr. Michael Adewale, whose firm acts as a supplier for a few of the fintechs to distribute the terminals, famous that fintech firms have adjusted their pricing fashions to stability affordability with sustainability.
“Prior to now, some used to present out Android PoS at N20,000 warning, however that’s now not lifelike. Now most retailers both pay outright or deposit the next warning charge,” he mentioned.
The worth surge is carefully tied to Nigeria’s macroeconomic surroundings. Inflation rose from 21.34% in December 2022 to a document excessive of 34.60% in November 2024, earlier than moderating to twenty.12% in August 2025.
In the meantime, the naira has depreciated sharply, hovering round N1,500/$ in 2025, in comparison with N500/$ in early 2023.
With most PoS units imported and topic to international provide chain prices, native fintechs have restricted skill to maintain costs down. The dearth of native {hardware} manufacturing additionally means Nigeria is closely uncovered to FX actions.
For aspiring PoS brokers, the price of entry into the enterprise has develop into considerably increased, limiting alternatives for small entrepreneurs.
Whereas fintech firms comparable to OPay, PalmPay, Moniepoint, and Nomba proceed to supply versatile fashions, starting from refundable warning deposits to outright purchases, the truth is that PoS companies are now not as low cost to begin as they had been two years in the past.
Nonetheless, analysts say demand will stay resilient, given the function of PoS in Nigeria’s cash-light economic system. For hundreds of thousands of Nigerians in underserved areas, these machines stay their closest entry level to formal {financial} providers, no matter value.
