Meet the owners of major phone stores powering Nigeria’s smartphone boom

Smartphones have become central to how Nigerians live, work, and earn. What began as a communication tool has evolved into a source of livelihood for millions, with mobile phone dealers playing a key role in keeping the market moving.

Reports show that Nigeria will surpass 140 million smartphone users by the end of 2025, underlining how mobile devices now drive both the economy and everyday survival.

Broadband penetration is also on the rise, improving the potential for mobile-driven commerce. Nigeria’s broadband coverage increased from 44.43% at the end of 2024 to 48.81% in May 2025, further supporting the digital ecosystem dealers rely on to reach consumers and sustain their businesses.

For dealers, this growth represents opportunity but also pressure, as the market remains highly sensitive to currency swings. The 2023 CBN reforms triggered a sharp naira depreciation, making devices more expensive and margins tighter.

Despite these challenges, phone retailing remains one of the most active sectors in the country. Dealers have built intricate distribution networks linking manufacturers, wholesalers, and consumers, allowing them to meet rising demand even amid economic volatility. Lagos continues to anchor this trade, serving as the primary hub for mobile-device sales and distribution in Nigeria.

This article spotlights 5 owners of major phone stores in Nigeria, unpacking the stories behind their businesses and their number of stores.

Chief Nwankwo Ebere – Founder Phonemart Technologies  

Phonemart Technologies specializing in the sale of mobile phones, laptops, cameras, and accessories. The company, which operates under the Regal Group of Companies, was founded by Chief Nwankwo Reginald Ebere, a seasoned entrepreneur, philanthropist, and community leader.

Registered with the Nigerian Communications Commission (NCC), Phonemart Technologies has shops located nationwide and a strong online presence

Chief Nwankwo, who also serves as Chairman of Regal Group, was born in Eluama Lokpaukwu, Umunneochi Local Government Area of Abia State. He holds a Bachelor’s degree in Accounting and an LL.B in Law from Abia State University, Uturu. Before establishing Phonemart Technologies in 2008, he worked with Inland Bank (now FCMB) and Parktel International, an ICT distribution company.

The Regal Group has evolved into a diversified conglomerate with subsidiaries such as Phonemart Technologies, Regal Cribz, Regal Granites, RegalBuyer Limited, and Regal Devices Limited. They run a number of physical stores across Nigeria and have built a strong online presence that attracts thousands of customers nationwide.

Beyond business, Chief Nwankwo has served as a public official and community leader. He was Supervisor for Agriculture in Umunneochi LGA (2016–2018), Special Assistant on Media to former Abia State Governor Okezie Ikpeazu (2018–2019), and later Senior Special Assistant on Media (2019–2021).

Adesomoju Opeyemi- CEO Spectrum Phones Ltd (19 stores) 

Adesomoju Opeyemi is the founder and Group Managing Director/Chief Executive Officer (MD/CEO) of Spectrum Phones Ltd. She is also the MD/CEO of Spectrum Holdings, the parent company that oversees Spectrum Phones Ltd. and Spectrum Innovation Technologies Ltd.

Mrs. Adesomoju graduated with a Bachelor of Science in Business Administration from the University of Ilorin. She also attended the Owner Manager Program at Lagos Business School, holds professional management certifications from the University of Wisconsin, USA, and is an alumnus of the Harvard Business School.

She is a Fellow of the Institute of Business Administration and Knowledge Management (FIBAKM) and has received an honorary doctorate in Corporate Leadership and Entrepreneurship Management from the European American University.

Her entrepreneurial journey began after completing her National Youth Service Corps (NYSC) year at Guinness Nigeria PLC. Starting with modest beginnings, she established her first shop in Ikeja, which laid the foundation for the Spectrum group.

Today, Spectrum Phones Ltd. has expanded operations across Nigeria, with 19 stores across Lagos

Mrs. Adesomoju is also a celebrated author of the bestselling business book “Take Your Place” on empowering entrepreneurs with tools for business growth.

Emeka Oguchi – CEO Pointek (21 stores) 

Pointek, known as Point Technologies Limited, stands as one of Nigeria’s foremost mobile phone retailers. Established in the early 2000s, the company has grown to become a significant player in the Nigerian electronics market, their offerings encompass a wide range of products.

Emeka Oguchi is a Nigerian entrepreneur and the Managing Director/CEO of Point Technologies Limited, popularly known as Pointek. Pointek has grown to become one of Nigeria’s leading retailers of mobile phones, tablets, etc.

The company has expanded its reach across Nigeria, offering a range of services designed to ensure customer satisfaction, including after-sales support and a best-price guarantee.

Oguchi holds a Bachelor’s Degree in Electrical and Electronics Engineering from Enugu State University of Science and Technology. He furthered his education at Lagos Business School, Pan-Atlantic University, where he completed the Owner/President Management Program (OPM) in 2015.

His entrepreneurial journey began with a vision to provide quality technology products and services to Nigerians. His leadership has been instrumental in Pointek’s growth, overseeing the establishment of multiple retail outlets across the country covering both major cities and commercial hubs. The Lagos State network includes multiple outlets in Ikeja (Head Office at 6 Simbiat Abiola Way, Ikeja City Mall, Awolowo Road, and others), Surulere, Ikotun, Festac, Broad Street, Victoria Island, Saka Tinubu, and Festival Mall.

Outside Lagos, Pointek has branches in Abuja (Wuse 2), Warri and Asaba (Delta State), Port Harcourt (Rivers State), Benin City (Edo State), Uyo (Akwa Ibom), Owerri (Imo State), Ebonyi Mall, and Umuahia (Abia State). In total, the company has 21 retail outlets nationwide.

George Zhu – Founder, Transsion Holdings (46 stores) 

3CHUB, officially known as 3CHUB Brand Management Limited, is the Nigerian retail arm of Transsion Holdings, the makers of Tecno, Infinix, and Itel smartphones.

Established in 2015 with a single store at Otigba, Computer Village, Ikeja, Lagos, the company has grown both organically and through strategic acquisitions. A major milestone came in 2018 when Transsion acquired Micro-Station, a Computer Village-based retail chain, for approximately $5 million. The acquisition expanded 3CHUB’s footprint, and all Micro-Station stores were subsequently converted into 3CHUB outlets, strengthening its retail presence nationwide.

3CHUB is owned by Transsion Holdings, a Chinese company founded in 2006 by George Zhu, who serves as Chairman and President. Born Zhu Zhaojiang in 1973 in Ningbo, Zhejiang Province, China, George Zhu grew up in a bustling port city. He studied electrical engineering at Zhejiang University, graduating with honors in the mid-1990s, while also engaging in student entrepreneurship activities.

Zhu began his career at Rockwell International, working on industrial automation and supply chain data systems, before co-founding Zhima Tech, a retail analytics firm that modeled consumer behavior in China’s emerging e-commerce market.

In 2006, Zhu founded Transsion Holdings in Shenzhen, initially a data analytics company that pivoted to mobile devices tailored for emerging markets. Under his leadership, Transsion launched Tecno in Nigeria, later adding Infinix and Itel. The company holds 63% of Nigeria’s smartphone market.

Transsion has focused heavily on emerging markets, particularly Africa, and has leveraged its retail operations in Nigeria to promote its brands while also selling other manufacturers’ products to attract a broad customer base.

Since its founding, 3CHUB has expanded to over 46 stores across 12 states in Nigeria with a significant concentration in Lagos. Its headquarters is at No. 20, Awolowo Way, Computer Village, Ikeja, Lagos.

Nnamdi Ezeigbo – Founder & CEO, SLOT Systems Limited (90 stores) 

Nnamdi Ezeigbo is the founder and CEO of SLOT Systems Limited, one of Nigeria’s most recognized mobile phone retail chains.

Ezeigbo studied Electrical Electronics Engineering at Yaba College of Technology, graduating with a Higher National Diploma (HND) in 1988. He served his National Youth Service Corps (NYSC) at Guinness Nigeria PLC in 1996. After youth service, he struggled to find employment and instead worked as an apprentice repairing computers, gaining hands-on experience and building a reputation for honesty and strong customer service.

Starting with a small repair shop in Ikeja, Ezeigbo’s first break came when a loyal customer provided him with printers to sell, enabling him to rent a larger store for N180,000 a store he later purchased years later for N100 million. He gradually expanded from computers to mobile phones, responding to growing demand.

Recognizing his need for formal business knowledge, Ezeigbo pursued an MBA at Lagos Business School and attended several entrepreneurship workshops, sharpening his business acumen and establishing SLOT as a reputable brand.

SLOT became one of Nigeria’s most trusted mobile phone retailers and a national retail powerhouse, with stores strategically located to serve urban and emerging markets. Today, the company operates 90 stores across Nigeria,with a significant number located in Lagos.