The Nigerian Telecommunications sector expanded by 12.74% YoY in the third quarter of 2021. The increased adoption of telecommunications services, coupled with the sector’s resilience to adverse economic trends and stiff regulation forged the sector into one of the key drivers of the nation’s economic rebound.
The sector has benefitted immensely from the increased adoption of ICT across sectors. Technological progress has supported the increased significance of the ICT sector. From accounting for just 7.01% of GDP in 2012, the sector now makes up 14.20% of GDP. Particularly, the total telecoms subscriber base has increased by a CAGR of 7.04% in the space of 10 years (2011 and 2021), while tele-density is presently at 99.18% compared to 68.49% in 2011.
The outlook of the sector therefore remains positive, given the huge potentials that exist.
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