Nigeria’s telecommunications industry generated a total of N12.978 trillion in revenue over 2023 and 2024, according to data from the Nigerian Communications Commission (NCC). The sector, which includes mobile network operators (MNOs), internet service providers (ISPs), value-added services (VAS), collocation, and infrastructure sharing, recorded strong revenue growth despite a recent decline in active subscribers.
In 2023, total industry revenue stood at N5.30 trillion, with GSM/MNOs contributing N4.012 trillion. Fixed wired services earned N273.01 billion, ISPs N89.81 billion, VAS N14.56 billion, collocation and infrastructure sharing N1.14 trillion, and other telecom operators N41.84 billion.
Revenue surged 44.7 per cent in 2024 to N7.67 trillion, led by GSM/MNOs at N5.33 trillion and collocation/infrastructure sharing at N2.05 trillion. Other segments contributed smaller amounts, including ISPs (N165.69 billion) and VAS (N83.1 billion).
Subscriber statistics showed a mixed trend. Active subscriptions rose slightly from 222.57 million in 2022 to 224.71 million in 2023, before dropping sharply to 164.93 million in 2024. The decline was largely due to the NCC’s implementation of the National Identification Number (NIN)–SIM integration policy, which led to the removal of unregistered SIM cards.
Teledensity, the number of telephone connections per 100 people, fell from 103.66 per cent in 2023 to 76.08 per cent in 2024, reflecting the NIN-SIM cleanup and adjustments in population figures. Internet subscriptions also declined from 163.84 million in 2023 to 139.28 million in 2024, though broadband coverage slightly increased from 43.71 per cent to 44.43 per cent as mobile 3G, 4G, and 5G networks expanded.
Despite the subscriber drop, Nigeria’s telecom operators maintained robust revenue, supported by promotions, loyalty programs, and competitive product offerings. NCC noted that cellular coverage across the country has reached over 95 per cent, underscoring continued sector growth and infrastructure expansion.
