Nigerian Telecommunications industry remains a critical non-oil growth driver and major contributor to the country’s economy, supported by a sizeable young population and the rapid adoption of mobile internet services.
Since it’s expansion across the country, the sector has experienced significant growth as evidenced by the growth in the number of telecom subscriber and infrastructural development among others.
However, the growth has been laced with several challenging years, including rapid currency depreciation and a macroeconomic slowdown weighing on profitability.
Amidst the challenges, the industry which has been dominated by four large mobile operators; MTN, Airtel, Globacom and 9mobile, remains on a steady growth trajectory, as rising smartphone penetration and investment in mobile internet networks supports a shift towards data-driven growth models.
The rapid mobile growth has also entailed a series of regulatory challenges from the industry watchdog the Nigerian Communications Commission which had implement reforms aimed at improving consumer protection and national security. The NCC is also ensuring more equitable distribution of telecoms’ economic benefits.
Below is the a chart representing data collected by 774ngr showing the trend of growth of the Nigerian Telecommunications industry since 2012.