Telecommunications operators in Nigeria earned N5.3 trillion in revenue from their service offerings in the country in 2023.
The Nigerian Communications Commission (NCC), which revealed this in the 2023 year-end performance report, titled: ‘2023 Subscriber/Network Performance Report,’ released yesterday, listed the operators to include the GSM players, which earned N4 trillion; Fixed wired, N273, 010, 222.21; Internet Service Providers (ISPs), N89, 806, 249, 295.90; Value Added Service Providers (VAS), N14, 559, 978,522.80; Collocation and Infrastructure Sharing players, N1.14 trillion and others, N41, 841,310, 710.39.
The report revealed that active subscribers also increased from 222, 571, 568 subscriptions in 2022 to 214,713, 710 as of December 2023 with subscribers’ data consumption exceeding 713 terabytes.
According to NCC, the industry’s contributions to the nation’s GDP rose to 14 per cent from 13.55 per cent within the period under review.
The telecoms market witnessed a rise in all financial segments of the market with CAPEX topping N990, 550,601,501.73, representing domestic investments, while operating cost among telecoms operators in the country was N3, 158, 403, 767, 328.48.
With reference to figures from the Central Bank of Nigeria, the report stated capital inflow in the form of foreign direct investment (FDI) into the Nigerian telecoms sector in 2023 was approximately $134,754, 819.27 against $399, 905, 531. 38 as of 2022.
Across the telecoms market, the number of active subscribers grew from 222, 571,568 subscriptions in 2022 to 224,713, 710 active voice subscriptions as of December 2023, representing an increase of 2.14 million subscriptions and 0.96 per cent growth in active subscriptions year-on-year.
