Nigeria's Telecom Industry Drives Economic Growth with Data Boom
Data has emerged as the driving force behind Nigeria's telecom industry, surpassing voice calls since 2019. This shift has significantly contributed to the country's economic growth. In the first half of 2025, the telecom sector contributed ₦15.02 trillion ($10.17 billion) to Nigeria's economy, marking a 25.8% increase from the same period in 2024.
MTN, a leading telecom provider, has seen a remarkable surge in data revenue. In just two years, from 2022 to 2024, MTN's data revenue soared by 108.46%, reaching ₦1.59 trillion ($1.08 billion). This growth reflects the increasing demand for data services in Nigeria. Meanwhile, Airtel's data revenues have also shown significant growth, rising by 50.35% since 2020 to $654 million as of March 2024.
Total data consumption in Nigeria has skyrocketed, reaching 1.15 million terabytes (TB) in August 2025, a staggering 75.69% increase from August 2023. This surge in data consumption has led to a significant rise in monthly data bills, which have more than tripled since 2023. This increase has contributed significantly to Nigeria's economic growth.
The CEO of Airtel Nigeria in 2024, Olusegun Ogunsanya, has played a pivotal role in driving this growth. Under his leadership, Airtel has expanded its data services, making them more accessible to Nigerians. However, despite these efforts, broadband penetration in Nigeria stood at 48.81% in 2024, with six in ten Nigerians remaining offline due to the high cost of smartphones.
The telecom industry's data-driven growth has been a significant catalyst for Nigeria's overall economic expansion. In the first half of 2025, the sector contributed ₦15.02 trillion ($10.17 billion) to the economy, driving the country's GDP to grow by 18.78% to ₦194.78 trillion ($131.93 billion) compared to the same period in 2024. With continued investment in data services and affordability initiatives, the telecom industry is poised to continue its significant contribution to Nigeria's economic growth.
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