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Nigeria’s telecoms market to generate $11bn by 2019

By on June 22, 2015

An industry research conducted by Pyramid research team has revealed that Nigeria’s telecommunications market will generate over $11 billion at the tail end of 2019.

The projection also unveiled that that the number of mobile subscribers in the country may hit 182 million by that date.

Underscoring the resilience of the sector, it stated: “political instability and low oil prices have led to a depreciation of the naira against the dollar, but the telecommunications market will remain an integral part of the country’s efforts to diversify its sources of growth.”

The $11 billion figure represents a jump of over $3 billion from what the sector generated in 2013, thereby sign-posting it as one of fastest growing economic sectors in the continent.

The disclosure was contained in the second quarter, April-June publication of the Nigerian Communications Communication (NCC) industry review and analyses.