📈 Telecoms Capitalise on Growing Demand for Data in Nigeria
In recent Nigeria news, MTN Nigeria’s CEO, Karl Toriola, reveals a significant shift in telecom revenue streams, now primarily driven by soaring data demand. From 125,149.86 terabytes in 2019 to 870,398.28 by 2024, internet consumption has expanded tremendously as reported by the Nigerian Communications Commission (NCC). This trend has seen MTN and Airtel’s combined data revenues surge to N1.63 trillion, highlighting a strategic move towards fibre-to-home initiatives. (Source)
Amidst these promising shifts, Toriola points out the industry’s challenges, such as rising operational costs and FX volatility. MTN has called for a tariff increase, although regulatory constraints could limit this adjustment in light of economic hardships faced by Nigerians. The Critical National Infrastructure Bill exemplifies the government’s supportive measures essential for telecom sustainability. Bismarck Rewane underscores cost-reflective tariffs’ potential to boost Nigeria’s economy, while broader strategies are needed to enhance the sector’s competitiveness.
🔍 Key Highlights:
- Telecoms’ focus on data services reflects increased revenues, with MTN and Airtel reporting remarkable growth.
- Rising operational costs challenge sustainability; calls for tariff adjustments arise.
- Government support initiatives play a critical role in sustaining telecom infrastructure and operation.
As Nigeria navigates these changes, how do you think the telecom industry should balance profitability with accessibility? Share your thoughts below!
