142m internet users push operators’ earnings to N3trn in one year

The Nigerian telecom sector saw a significant boost in earnings, reaching N3 trillion in one year, driven by a surge in internet usage. The number of internet users in the country reached 142 million, with monthly data usage skyrocketing to terabytes from gigabytes in January 2023.

Mobile subscriptions stood at 169 million, and broadband penetration continued to rise, contributing over 14% to the GDP. Major operators like MTN Nigeria and Airtel Nigeria reported substantial growth in data revenue, despite challenges like food inflation.

The recent 50% tariff increase was also attributed to the operators' growing revenue. MTN Nigeria reported a profit and revenue increase, with a net foreign exchange gain of N295 million.

The shift in consumer behavior towards data consumption was highlighted as a key factor reshaping the telecom business model, with data becoming essential for connectivity and business operations in Nigeria.