The cost of Point-of-Sale (PoS) terminals in Nigeria has increased significantly over the past two years, with prices rising by 30% to 100%. This surge has been driven by factors such as inflation, foreign exchange fluctuations, and higher logistics costs. Entry-level PoS machines, which used to cost around ₦15,000 to ₦20,000, are now priced at approximately ₦21,500. Meanwhile, more advanced terminals have seen their prices double, going from ₦30,000 to ₦40,000 to between ₦62,000 and ₦85,000.
Despite the rising costs, the demand for PoS services continues to grow, especially in underserved areas where these machines provide essential access to financial services. As of March 2025, Nigeria has registered about 8.3 million PoS terminals. Many fintech companies dominate the market, aggressively distributing these devices as they expand their networks of agents. However, rising costs pose challenges for new entrants and those wishing to expand their businesses.
Experts point out that the increase in PoS terminal prices is closely linked to Nigeria’s overall economic situation, including a sharp depreciation of the Naira. With most terminals imported, local fintechs struggle to keep prices low. Although some companies are adapting by offering leasing models, aspiring PoS agents face higher barriers to entry, making it more difficult for small entrepreneurs to start their businesses.
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