The Nigerian telecommunication industry stands at the forefront of the country’s economic and technological growth. With major players like MTN, Globacom, Airtel, and 9mobile, this sector offers widespread mobile and data connectivity. It has progressively adopted advanced technologies such as 4G LTE and is now gearing towards 5G. In this report, we delve into the sector’s nuances, trends, and opportunities, providing actionable insights for potential exporters, investors and businesses.
Sector Overview
The Nigeria telecom market size is estimated at USD 9.09 billion in 2024, and it is projected to reach USD 11.43 billion by 2029, growing at a CAGR of 4.70% during the forecast period (2024-2029)1. This significant transformation has been fueled by various initiatives taken by the Nigerian Government to boost internet infrastructure, broadband connections, and data consumption. The proliferation of Internet of Things (IoT) solutions is revolutionizing various sectors, enabling improved efficiency, automation, and enhanced user experiences.