The economic challenges in Nigeria have shifted the focus of its citizens from envisioning the future state of the nation to navigating the present. The steep rise in prices of goods and services has significantly reduced people’s purchasing power, affecting all aspects of daily life, including the way they buy and use mobile phones.
Once accustomed to the luxury of owning two or three high-end phones, Nigerians have had to adjust their preferences to fit the economic reality, settling for just one device. As the economic situation worsens, individuals are finding innovative ways to keep up with technology, such as swapping their old phones for new ones.
Evans Ofili, a manager at a phone and electronics store in Igando, explains the process of phone swapping: “It’s a simple process. Customers bring in their old phone, along with the purchase receipt and a valid form of identification. We then assess the phone’s condition, including battery health and other components, to determine its current value. The customer then pays a small amount to get their desired phone.”
While phone swapping has been around for some time, Nigerians are now adopting it more widely. Previously, old phones were often passed down to family members, but now they’re being exchanged for upgrades. Ofili noted, “People are no longer buying new phones; instead, they’re opting for phone swapping. This practice not only boosts sales but also ensures that older devices are refurbished and put to use again.”
Jeremiah Santos, a manager at a phone hub in Egbeda, added that phone sellers are now offering installment payment plans in addition to swapping. “Customers can opt to pay for their phones over three or six months, with a down payment and low interest rates. This strategy helps both customers and sellers navigate the economic challenges.”
The increasing cost of importing phones, port charges, fluctuating currency exchange rates, and logistical hurdles have put pressure on phone sellers. As a result, the prices of popular phone brands have risen significantly, with some models now fetching upwards of N150,000.
Mrs. Demilade Raymond, a salary earner, shared her experience of swapping her old phone for a higher-grade model, citing the need for more storage space and smoother performance. Meanwhile, Mr. Daniel Apata, a mechanic, opted to exchange his Android phone for a basic “torchlight phone” due to affordability constraints.
As economic challenges persist, Nigerians are adapting their consumption patterns to cope with the realities of the times, whether through phone swapping or more conservative purchasing decisions.
