Nigerian Telecoms Operators Achieve N3.8trn Total Revenue In 2022

In 2022, telecommunications operators in Nigeria collectively generated a total revenue of N3.8 trillion, according to the Nigerian Communications Commission (NCC).

This figure marks an impressive 18.7 percent increase compared to the N3.2 trillion recorded in 2021. The revelation comes from the NCC’s Subscriber/Network Data Annual Report 2022, published on August 9, 2023.

The report highlights that major mobile network providers including MTN, Globacom, Airtel, and 9mobile contributed significantly to the industry’s revenue, making up 86 percent of the total. This underscores their dominant presence in the sector.

The combined revenue of these four leading mobile operators for the year reached N3.3 trillion. Other players such as Internet service providers (ISPs), value-added service (VAS) providers, and fixed wired operators collectively contributed N500 billion to the total industry revenue.

Regarding Capital Expenditures (CAPEX), the report indicates a decline in CAPEX coupled with an increase in operating costs. The data reveals that operators collectively spent N785.7 billion on CAPEX in 2022, representing a 30 percent decrease compared to the N1.1 trillion spent in 2021. Meanwhile, operating costs increased by 17.6 per cent, with operators spending N2 trillion on their operations in 2022 compared to N1.7 trillion in 2021.

The report also showcases that telecommunications subscribers in Nigeria consumed a total of 518,381.89 terabytes of data in 2022, indicating a significant 47 percent increase from the 353,118.89 terabytes consumed in 2021.

Furthermore, the number of Internet subscriptions across networks increased from 141.9 million in December 2021 to 154.8 million in December 2022, showing a growth of 9.06 percent.

In terms of active subscriptions, the report discloses that the number surged from 195.4 million in 2021 to 222.5 million in December 2022. This signifies a net addition of 27.1 million subscriptions, equating to a 13.86 percent increase in active subscriptions year on year.

The report attributes the increase in the operators’ subscriber base to factors such as subscriber loyalty, promotional campaigns, seasonal effects, robust consumer acquisition efforts, and competitive product offerings across all networks. This boost in active subscriptions has a positive impact on related telecom indicators including Teledensity, Internet Penetration, and Broadband Penetration.