Bismarck Rewane Celebrates Nigeria's Telecom Growth Milestone

Bismarck Rewane, the Managing Director of Financial Derivatives Company and Chairman of FCMB, commended the growth of Nigeria's telecommunications sector, which has evolved from limited access to widespread connectivity. As MTN Nigeria celebrated its 25th anniversary, Rewane reflected on the sector's transformation since MTN's entry in 2001.

He noted that in 2000, Nigeria had only about 250,000 fixed telephone lines under the state-owned Nigerian Telecommunications Limited (NITEL). By November 2025, active mobile subscriptions reached 177.4 million, with 144.8 million active internet subscriptions, showcasing a dramatic increase in telecommunications penetration from a teledensity of 0.4 percent to nearly 80 percent.

Rewane highlighted that combined investments in the sector grew from about $500 million to over $75 billion, emphasizing the telecommunications industry's role as critical economic infrastructure supporting various sectors, including banking, commerce, healthcare, and education.