It has been estimated that the number of mobile subscription in Nigeria will hit 182 million by 2019 according to Pyramid Research. It also added that the telecoms sector would generate about US$11 billion within the same period, rising from over US$9 billion in 2013.
It however added that growth in the market will be slightly reduced in 2015, as the market recovers from the large number of fixed-line disconnections, long-term growth of the telecoms sector will not to be affected.
Furthermore, telecoms sector in Nigeria is predicted to grow at a Compound Annual Growth Rate (CAGR) of 2 per cent over the next five years, with mobile data increasing at 16 per cent up until 2019.
Severin Luebke, analyst at Pyramid Research, said: “Political instability and low oil prices have led to a depreciation of the Naira against the US Dollar, but the telecommunications market will remain an integral part of the country’s efforts to diversify its sources of growth.”
“Other countries in Africa are likely to follow Nigeria when it comes to mobile technology developments. The increasing demand for mobile data will offer service providers, as well as new entrants to the market, ample opportunity to test and grow their service offerings in Nigeria.”
