Price of PlayStation 5 in Nigeria

PlayStation is the most sought after game console in the world today produced by Sony. Sony announced the PlayStation 5 when the world is still savoring the creativity of PlayStation 4. PlayStation 5 was introduced on June 11,2020. The company introduced two versions of the console which is; a standard version and a digital version. 

The PlayStation 5  has a sleek vertical design featuring a curved black interior sandwiched between white outer panels. This article centers on the price of PlayStation 5 in Nigeria today. See also: Zoom Lifestyle Lottery: Everything You Need To Know About the Gaming App

PlayStation 5 Price in Nigeria

The PlayStation 5 is available for anything between N420,000 to N650,000 depending on the version you want to purchase. Also, some factors affects how much the PS5 is sold. They include:

  • Place of purchase
  • Period of purchase
  • Currency exchange at the time if purchase 

These factors affect how much the PS5 goes for. 

Why is PlayStation 5 expensive in Nigeria

The price of PS5 keeps increasing even more than the initial price set by the manufacturer. PS5 doesn’t follow the process of how electronics go; i.e the price of gadgets decreases as time goes by but the reverse is the case with PS5. Some of the factors responsible for the high price of PS5 include:

1. Supply and Demand: 

Thus entails that there is not enough PlayStation 5 to go round and as such, there is an increase in it’s price. PlayStation 5 went out of stock almost immediately when it went on sale.

Also, the law of demand still holds i.e the the higher the demand, the higher the price. There is a high demand for PS5 in the Nigerian market and that necessitates its high price. Read also: The 10 Best Game Consoles Of All Time: Check Them Out

2. Way of Living/ Covid-19 Pandemic:

Due to the pandemic, people’s gaming habits increased. People switch to games to relax themselves and the best available gaming console is the PS5. This contributed to the increase in demand and thereby aggravated the price of the PS5 console. 

Where to buy PlayStation 5 in Nigeria

There are three main places where you can purchase the PS5 or some other gaming products from. They include: 

1. Retailers:

The Retailers consist of stores like VG stores that sell video games, consoles and accessories. The prices across retailers in Nigeria is N530,000.

2. Marketplace Sites: 

These are websites like Jumia, Konga e.t.c. These websites charge retailers a commission for sales on their platform. The prices in marketplaces are lower than the prices from the retailers. The PS5 is sold for N469,500. See also: Where Is R3 Button On The PS4 Controller? Exposed

3. Resellers/Plugs:

These are individuals that can get you anything. They don’t stock consoles; they maintain relationships with the retailers to get you what you need. Their prices vary and as such we are unable to provide a benchmark for them.