Nigeria’s telecommunications operators have challenged recent data released by the National Bureau of Statistics (NBS), arguing that it does not accurately reflect the scale of investment flowing into the sector.
The operators, under the umbrella of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), said the reported decline in foreign capital importation into telecommunications presents only a partial picture of industry investment and could create a misleading impression about the sector’s performance.
In a statement jointly signed by Gbenga Adebayo, ALTON Chairman, and Damian Udeh, Publicity Secretary, the association said telecom operators invested heavily in network expansion and infrastructure despite the reported drop in foreign capital inflows.
According to ALTON, mobile network operators, tower companies, and other industry players recorded a combined capital expenditure of N2.13 trillion in 2025. The sector has also earmarked N1.86 trillion for capital projects in 2026, covering network expansion, technology upgrades, and other strategic investments aimed at improving service quality and extending coverage nationwide.
The association noted that while the NBS reported that foreign capital importation into the telecommunications sector declined from $80.78 million in 2025 to $7.24 million in the first quarter of 2026, the figures do not capture the full extent of investments being made.
ALTON explained that much of the sector’s investment is being funded through domestic capital, retained earnings, and reinvested revenues, funding sources that may not be reflected in conventional foreign capital importation statistics. “These commitments are fundamental to advancing Nigeria’s digital economy objectives and improving services for millions of subscribers nationwide,” the association stated.
According to the operators, the disparity between reported foreign inflows and actual infrastructure spending highlights the need for a more comprehensive framework for measuring investment in the telecommunications industry.
To address the gap, ALTON called for a collaborative effort involving the Nigerian Communications Commission (NCC), the National Bureau of Statistics (NBS), and the Central Bank of Nigeria (CBN) to develop a broader and more accurate investment-tracking mechanism.
The association said a transparent and inclusive reporting framework would better reflect the sector’s substantial annual investments, strengthen investor confidence, support evidence-based policymaking, and enhance Nigeria’s attractiveness as a destination for telecom investment.
“A transparent investment profile reflecting the sector’s substantial annual capital commitments will better position Nigeria as a credible and attractive destination for telecommunications investment, inform sound policy development, and sustain investor confidence,” ALTON said.
The telecom operators also praised the Federal Government for policy interventions that have helped restore stability to the industry, particularly the approval of a 50 per cent tariff adjustment last year.
According to ALTON, the tariff review played a critical role in improving revenue sustainability, strengthening operational viability, and enabling operators to reinvest significantly in infrastructure development.
The association assured Nigerians that telecom companies remain committed to expanding network coverage, modernising infrastructure, improving resilience, and enhancing service quality.
It added that continued collaboration between government, regulators, and industry stakeholders would ensure uninterrupted access to digital services that support economic growth, innovation, financial inclusion, and national development.
