Nigeria, most populous black nation on the planet, currently has 129 million active mobile subscribers, according to the Nigerian Communications Commission (NCC), Web Africa reports.
In a recent study, Pyramid Research has forecasted that Nigeria’s mobile subscriber base would grow to almost 200 million in the next five years.
In a report titled Nigeria: Regulator’s Nullification of 14 Licenses Hits Fixed Sector; Mobile Data Keeps Overall Market Growing Strong Pyramid notes that Nigeria will remain the biggest market for mobile subscription on the African continent.
The report further highlights that Nigeria’s telecoms market is expected to generate $10.9 billion in 2019, up from a total of $9.2 billion in 2013.
The telecoms market will grow at a Compound Annual Growth Rate (CAGR) of 2% over the next five years, with mobile data increasing at 16% up until 2019, according to the report.
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 telecommunications sector will not to be affected, it was stated.
Severin Luebke, analyst at Pyramid Research also explained, “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… the Nigerian telecoms market offers strong growth rates of around 6.8% per year for the period between 2014 and 2019.”
Luebke added, “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.”
