It will take an average Nigerian a minimum of 304.9 days to be able to afford the iPhone 14 Pro, according to the iPhone Index 2022 released by the international e-commerce platform Picodi.
The index compared the local iPhone 14 Pro (128 GB) prices with average earnings in different countries and calculated the iPhone Index, which is the smartphone price expressed in man-days.
Two months ago, Apple unveiled new devices as an addition to its flagship smartphones. The newly launched devices include iPhones 14, 14 Plus, 14 Pro, and 14 Pro Max, and expectedly came with heavy price tags.
Read also: Here is all you need to know about the new iPhone 14, other gadgets launched by Apple.
Although the price of the iPhone 14 Pro in the USA is pegged at $999, getting the base version (128 GB) in Nigeria will cost ₦1,039,000. The average wage in Nigeria is ₦71,549.83 net, according to the latest Numbeo data.
According to the Picodi Index, the average Nigerian must work for 304.9 days to purchase the iPhone 14 Pro, provided all the money earned is saved for this purpose. Compared to the previous year, the number of required days increased by 93.9 days.
In the last five years, the figure has continued to increase: 2018 – 91.2 days, 2019 – 122.9 days, 2020 – 188.2 days, 2021 – 211.0 days, and 2022 – 304.9 days. This is hardly surprising, considering that almost half of Nigeria’s population live in poverty, and unemployment is rising to 33%.
On the other hand, an average citizen of Switzerland will earn money for the newest model the quickest – only 4.6 days, while an average American will be able to afford the latest gadget after working for 5.7 days, and Australian – after 6.1 days.
Among the countries included in the ranking, the worst result was noted in Nigeria, where the iPhone is worth 304.9 man-days. The second and third worst results are Argentina and Tajikistan – 180.0 and 179.5 days, respectively.
Related article: Why Nigerians prefer second-hand iPhones more than any other smartphone brand.
Many Nigerians can’t afford iPhones
Owning an Apple device in Nigeria is considered a mark of luxury. After all, these devices offer better specifications and user experience and are apparently more expensive than their Android counterparts. No wonder most Nigerians prefer second-hand iPhones more than any other smartphone brand.
Per data from Statista, iOS users make up just under 10% of the Nigerian mobile operating system market. The point here is that not everyone can afford to buy an iPhone. A 2020 study found that only 6.41 per cent of Nigerians use the smartphone.
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