Here are my list of top 5 phones for students in Nigeria considering the price and specifications 

GIONEE M5 MINI
Top 5 Phones For Nigerian Student 2016 Img_20161026_220528-jpg 
Key specifications 
Os: Android 5.1 (Lollipop)
Processor: Quad-core 1.3 GHz
Memory: 2GB ram
SIM Count: Dual sim
Display: 5.0-inch 
Resolution: 720 x 1280 pixels 
Rear Camera: 8MP Camera
Front Camera: 5MP Camera
Built-in Storage: 16GB
Battery: 4000 mAh Battery
Price:#46000

TECNO L8 PLUS
Top 5 Phones For Nigerian Student 2016 Img_20161026_220500-jpg 
Key specifications 
Os: Android 5.1 (Lollipop)
Processor: 1.3GHz quad-core Processor
Memory: 2 GB RAM
SIM Count: Dual SIM
Display: 5.5-inch
Resolution :720 x 1280 pixels 
Rear Camera: 8MP
Front Camera: 2 MP
Built-in Storage: 16GB Storage
Battery :5050mAh
Price: #45000

INFINIX HOT 4
Top 5 Phones For Nigerian Student 2016 Img_20161026_220547-jpg 
Key specifications 
Os: Android 6.0 (Marshmallow) 
Processor: 1.3GHz quad-core Processor
Memory: 2GB RAM
SIM Count: Dual-SIM
Display: 5.5-inch
Resolution :720 x 1280 pixels
Rear Camera: 8 MP
Front Camera: 5MP 
Built-in Storage: 16GB 
Battery :4000mAh 
Price :#41000

INFINIX HOT 3
Top 5 Phones For Nigerian Student 2016 Ng_w08_hot3_lp1_02-jpg 
Key specifications 
OS: Android 5.1 (Lollipop)
Processor: 1.3 
GHz Quad-core 
Memory: 1GB RAM or 2GB RAM
SIM Count: Dual-SIM
Display: 5.5-inch
Resolution :
720 x 1280 pixels
Rear Camera:
8MP
Front Camera: 2MP
Built-in Storage: 16GB
Battery : 3000
mAh
Price : #39000

TECNO W4
Top 5 Phones For Nigerian Student 2016 Img_20161026_215607-jpg 
Key specifications 
Platform: Android 6.0 (Marshmallow)
Processor: 1.3GHz quad-core Processor
Memory: 1 GB RAM
SIM Count: Dual SIM
Display: 5.0-inch
Resolution :
720 x 1280 pixels
Rear Camera: 8 MP
Front Camera: 2 MP
Built-in Storage: 16GB
Price : #35000