PoS Terminals cost jumps 30%–100% in Nigeria over two years as number of registered PoS terminals rise to 8.3 million

The cost of Point-of-Sale (PoS) terminals in Nigeria has surged dramatically between 2023 and 2025, with price hikes ranging from a minimum of 30% to a maximum of 100% for high-end devices.This sharp increase fueled primarily by inflation, severe foreign exchange pressures, and rising logistics costsis forcing a significant restructuring of the business model for Nigerias rapidly expanding agency banking sector.According to a new report by NairaMetrics, while entry-level PoS machines that were previously priced between N15,000 and N20,000 now sell for around N21,500, the cost of more advanced Android and smart terminals has doubled, rocketing from an initial price of N30,000N40,000 to a new range of N62,000 to N85,000.The price surge is happening despite sustained and increasing demand for PoS services, especially in financially underserved areas where these devices are often the main access point to formal financial services.This persistent demand has propelled the number of registered PoS terminals in Nigeria to 8.3 million as of March 2025, according to data from the Nigeria Inter-Bank Settlement Systems (NIBSS).The Nigerian PoS market is dominated by fintech companies, who are heavily deploying these devices to onboard more agents, although some commercial banks also issue them.The report claims that an official from a leading fintech firm, speaking anonymously, confirmed that the cost increases are an unavoidable consequence of currency volatility and escalating logistics expenses. The dollar rate is a major factor in all these. Currently, there is no locally produced PoS; all are imported, and the price has to reflect the exchange rates, the official stated. He added that the current prices do not even fully reflect the associated costs, as some companies are absorbing part of the expense to promote financial inclusion and maintain terminal affordability. The post PoS Terminals cost jumps 30%100% in Nigeria over two yearsas number of registered PoS terminals rise to 8.3 million appeared first on Linda Ikeji Blog.