Telecom revenue outlook brightens amid rising tariffs, subscriber growth
FBNQuest analysts have said the telecommunication sector is on track for sustained revenue growth, driven by higher tariffs and steady demand for data services.
They noted in a daily morning note that a 50 percent increase in voice and data tariffs implemented in the first quarter of 2025 is expected to bolster operator revenues, even as competition intensifies among the four main players.
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“Looking ahead, we expect sustained strong revenue growth in the sector, primarily driven by higher pricing of voice and data offerings following the 50 percent tariff increase implemented in Q1 ’25,” the report said.
With mobile connectivity central to Nigeria’s digital economy ambitions, continued infrastructure investments and pricing reforms are expected to keep the sector on a growth trajectory through the rest of the year, it stated.
According to new data released by the Nigerian Communications Commission (NCC), Nigeria’s telecommunications sector maintained its growth momentum in September 2025, as active mobile subscriptions rose for the second consecutive month.
The total number of active mobile lines grew by 1.2 percent month-on-month, or about 2 million, reaching 173.5 million subscribers in September, compared to 171.5 million in August.
The previous month had also recorded a 1.3 percent month-on-month increase, which signals a gradual rebound in the country’s telecoms market after earlier declines.
Internet connections via mobile network operators also climbed by 4 percent month-on-month to 140.4 million, pushing Nigeria’s internet penetration rate to 65.0 percent, up slightly from 64.7 percent in August.
Similarly, teledensity improved to 80.3 percent, based on an estimated national population of 216 million.
The uptick in total subscribers was driven by gains across all major mobile network operators.
MTN Nigeria (MTNN) added over 700,000 new users, bringing its total subscriber base to 90.3 million. However, its market share dipped slightly to about 52.1 percent from 52.3 percent in the previous month.
Airtel Nigeria followed with nearly 397,000 new subscribers, raising its total to 58.5 million. Its market share declined marginally by 15 basis points to 33.7 percent.
Globacom added 477,000 subscribers, which lifted its total to 21.4 million and its market share to 12.3 percent.
Read also: How MVNOs can unlock opportunities in Nigeria telecom amid challenges
T2 (formerly 9Mobile) gained 386,000 new users in September, bringing its market share up to 1.8 percent from 1.6 percent. The growth is attributed to the operator’s rebranding efforts and renewed investment in network infrastructure.
