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Nigeria’s Telecomms Sector Still in Growth Mode Led by Data

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Nigerians telecommunications sector was in growth mode in the third quarter of 2020, led by data and internet subscriptions which rose by 23 percent year on year for the period to 151.5 million.

Active voice subscriptions on all networks by comparison rose by 14.55 percent to 205.2 million.

Nigerians flocked to the Globacom or GLO network for their internet subscriptions as active subscribers rose by 33.2 percent year on year, in the third quarter of 2020.

This compares to a 24.5 percent growth for active internet subscribers on the MTN network, 21.4 percent growth for Airtel and a -14 percent slide for 9 mobile which has been having difficulties with capital expenditure to boost its network since it came out of bankruptcy.

Glo had one of the cheapest data plans ranging from N0.28/MB to N0.59/MB, according to National Bureau of Statistics (NBS) data.

MTN had the overall largest number of active internet subscribers at 64 million people, followed by Airtel 40.3 million, GLO 39.1 million and 9mobile 7.2 million.

A total of 143,636,816 and 151,512,122 subscribers were active on the internet in Q2 and Q3 as against 136,203,231 in Q1 2020. This represented a 5.48 percent growth in internet subscriptions Quarter on Quarter.

Similarly, Lagos State has the highest number of subscribers in terms of active internet per State in Q3 2020 and is closely followed by Kano and Ogun States respectively while Bayelsa and Ebonyi States have the least number of subscribers.

Nigeria’s telecommunications sector is still a positive for the stock markets, with analysis showing that the 2 listed names MTN and Airtel are larger than the entire consumer goods sector.

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