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The National Bureau of Statistics (NBS) recently released data on Nigeria’s telecom sector for the first quarter of 2024, highlighting important figures like foreign investments, active subscriptions, and regional distribution.
In Q1 2024, the telecom sector attracted a total of $191.5 million in foreign investments, a major boost compared to $134.75 million in 2023. This is a significant increase, showing a 769% rise compared to Q1 2023, and a 738% jump from Q4 2023.
Despite the rise in investments, the number of active voice subscribers decreased slightly by 3.03%, with 219.3 million subscribers in Q1 2024, compared to 226.2 million in Q1 2023. On the other hand, the number of active internet subscribers increased by 4.33%, reaching 164.4 million in Q1 2024.
**Regional Distribution:**
Lagos recorded the highest number of active voice and internet subscribers, with 25.96 million and 18.84 million, respectively. Other states with high active subscriptions included Ogun and Kano. Bayelsa had the fewest active subscribers in both categories.
The South-West zone had the most active voice and internet subscribers, followed by North-Central and North-West regions.
**Market Leaders:**
MTN remains the leader in the telecom market, with 81.8 million active voice subscribers and 69.4 million internet subscribers in Q1 2024. Airtel followed with 63.4 million active voice subscribers and 46.8 million internet subscribers, while Glo and 9mobile trailed behind.
**Porting Trends:**
MTN also led in port-ins with 1,296 subscribers, followed by Airtel, Glo, and 9mobile. However, 9mobile had the highest number of port-outs, with 1,333.
**Contribution to GDP:**
The telecom sector contributed 14.58% to Nigeria’s GDP in Q1 2024.
**Government Efforts to Expand Broadband:**
Dr. Aminu Maida, head of the Nigerian Communications Commission (NCC), spoke about plans to increase the telecom sector’s contribution to GDP, aiming for 25%. He acknowledged challenges but emphasized the government’s focus on policies to boost the sector’s growth.
Currently, Nigeria has close to 200 million connected lines, but more than half are still using 2G technology. The government plans to invest in expanding broadband and improving connectivity across the country.
The government has also set up a Special Purpose Vehicle (SPV) to extend the country’s fiber optic network by 90,000km. This project aims to increase internet access, lower costs, and help the country meet its target of connecting 70% of the population to broadband by 2025.
In summary, the Nigerian telecom sector saw encouraging growth in the first quarter of 2024, with higher investments and more internet subscribers. However, there’s still a lot of work to do to improve connectivity and meet the country’s broadband goals.
