On January 25, 2026, Punch Newspapers published an in-depth interview with the founder of Rifugio Communications Limited, Dr. Kayode Thomas, titled:

“Why Chinese phones cost more in Nigeria—Rifugio founder”

In the interview, Dr. Thomas discusses:

• Why mobile phones are more expensive in Nigeria
• The real cost of importing and doing business in the country
• The impact of exchange rates and economic instability
• Rifugio’s 10-year growth journey and expansion plans
• His advice to entrepreneurs operating in Nigeria

Below is an excerpt from the interview as published by Punch:

Founder of Rifugio Communications Limited, Dr. Kayode Thomas, discusses Nigeria’s mobile phone market with DARE OLAWIN, reflecting on the company’s growth journey, operational challenges, and expansion plans. He also shares what continues to motivate his investments in Nigeria despite prevailing headwinds, and addresses perceptions that phone importers are exploiting Nigerian consumers…

“When I came back to Nigeria many years ago, I was in a different business… This environment is what gives me the confidence because the opportunities are there. The growth potential is there. The people are there. The resources are there…”

“Yes, they are cheaper in China. Why don’t they fly to China to go and buy them? Pay for the tickets… You pay duties… there is demurrage… and then there is the high cost of doing business in Nigeria…”

“If you buy a phone abroad… when you convert the dollar to naira, it is almost the same thing here, but here you also get a warranty…”

Read the Full Interview on Punch

This article was originally published by Punch Newspapers on
January 25, 2026, at 1:29 am

To read the complete interview and full discussion, please visit the original source:

👉 Read the full article on Punch: https://punchng.com/why-chinese-phones-cost-more-in-nigeria-rifugio-founder/