The Nigeria Telecom Market size is estimated at USD 9.09 billion in 2024, and is expected to reach USD 11.43 billion by 2029, growing at a CAGR of 4.70% during the forecast period (2024-2029).
The Nigeria telecom market has undergone significant transformation over the past few years owing to various initiatives taken by the Government to boost the country's internet infrastructure and broadband connection, growth in data consumption from businesses as well as individuals, growth in 5G deployments across the country and various innovations by the significant telecom market vendors operating in Nigeria.
The Nigerian telecom market is semi-fragmented due to ongoing partnerships and recent advancements in the market. Some major players in the market studied include MTN Nigeria Communications PLC, Airtel Networks Limited (Airtel Africa PLC), Globacom Limited, Broad Based Communications Limited, 9Mobile(Emerging Markets Telecommunication Services Ltd)
In June 2023, Globacom launched its Fourth Generation Long Term Evolution (LTE) Advanced network, 4G-LTE Advanced. The company disclosed the simultaneous rollout of the service in several major cities in Nigeria, which has been projected to help speed up economic and commercial activities and boost the productivity of professionals, students, and traders across the country.
In May 2023, Tizeti announced that the company expanded its collaboration with Microsoft to address the issue of broadband underdevelopment. The partnership aims to provide affordable and reliable high-speed internet access to underserved communities and people in the country, addressing the significant broadband gap.
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