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Bright outlook for Nigeria’s telecoms sector

from OKORO CHINEDU in Lagos, Nigeria
LAGOS – SUBSCRIBER numbers in Nigeria continue growing despite a directive in April that operators suspend outgoing calls for unlinked subscriber identity modules (SIMs).

The Nigeria Communications Commission (NCC) issued the directive to curb crime in the West African nation.

Latest data from the commission shows that the number of active mobile lines and internet connections increased by 0,9 percent month-on-month and 0,4 percent m/m to 206 million and 151 million respectively as at end of June 2022.

This represents a mobile teledensity of 103 percent and an internet penetration rate of 76 percent.

FBN Quest noted that according to the regulator’s monthly data, MTN Nigeria (MTNN) recorded the largest addition to its subscriber base among the four carriers, with a net addition of 1,3 million users (+1,7 percent /m), and a 30bps m/m increase in its subscriber market share to 384 percent.

Net subscriber additions for MTNN’s closest rival, Airtel Nigeria, was 0,53 million, or a m/m growth of 0,9 percent.

Globacom, the third largest mobile network by subscribers, had no net additions.

9Mobile, the smallest of the carriers, registered a paltry increase of 1 931 new users.

“Despite the challenging operating environment, the telecoms sector continues to grow strongly,” FBN stated.

Despite the upward pressure on operating expenditure, due to the rising costs on leases and energy costs, FBN Quest projects that revenue growth in data, fintech, and other segments, including rollout of 5G services for MTNN, will drive earnings growth in the future.

– CAJ News

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