In a dramatic show of long-term commitment, Nigeria’s telecoms industry pumped an extraordinary ₦2.9 trillion into infrastructure—an earthshaking 159.03% rise in CAPEX. According to the Nigerian Communications Commission (NCC), this massive escalation was driven partly by the unification of exchange rates and inflation, which pushed up the naira value of imported network equipment, but also by a sector choosing expansion over hesitation.
The most explosive shift was in data consumption. Usage surged 34.26%, hitting 9.76 million terabytes, fuelled by deeper broadband access, widespread smart device adoption, and the unstoppable pull of Nigeria’s digital economy. Fewer subscribers didn’t mean less activity—those who stayed online used far more bandwidth, from video streaming to social platforms and cloud services.
Broadband penetration increased from 43.7% to 44.43%, supported by extensive network upgrades. Coverage levels demonstrate how far the industry has progressed: 3G now reaches 89% of Nigerians, 4G covers 84%, and the relatively new 5G already blankets 13%, laying the digital foundation for next-generation services and advanced connectivity.
Nigeria’s digital backbone expanded aggressively. Fibre optic deployment grew 32% to 110,577km, strengthening high-speed internet capacity nationwide. Base stations increased to 145,141, delivering wider, more reliable service to millions.
The sector’s economic power intensified as telecoms’ contribution to GDP rose from 14.00% in Q4 2023 to 14.40% in Q4 2024, entrenching its status as one of Nigeria’s strongest non-oil pillars.
Confidence from abroad also roared back. Foreign Direct Investment into telecoms more than tripled, from $134.7 million to $456.6 million, a clear global signal that Nigeria’s digital market is not just stable, but ripe for long-term growth.
With data consumption skyrocketing, fibre networks sprawling at record pace, and foreign investors rushing back in, the telecoms industry is staging one of the most aggressive infrastructure transformations in Nigeria’s modern history.
Ultimately, the NCC’s 2024 report reveals a sector mid-transformation. While NIN-SIM policies trimmed subscriber numbers, the fundamentals—soaring revenue, intensified infrastructure rollout, unprecedented CAPEX, and explosive data demand—show an industry rebuilding itself into a more secure, resilient, and innovation-ready engine for Nigeria’s digital future.
