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Telecom subscribers in Nigeria spent a total of at least N2.59tn on airtime and data in the first nine months of 2023, according to financial statements from MTN Nigeria and Airtel Africa. This marked a 32.57% increase from the N1.95tn recorded by both telcos from these income sources in the corresponding period of 2022.
Airtel Africa’s income from airtime and data in the first nine months of 2022 amounted to N647.71bn, while in the same period of 2023, it amounted to N1.003tn. On MTN’s part, data revenues grew by 36.36% year-on-year, outpacing voice revenues, which grew by 10.64%. MTN stated that data revenue growth was driven by increased usage and data conversion in both new and existing user bases.
The surge in data consumption is attributed to the rise in video streaming and increased Internet usage. Data consumption in Nigeria is expected to continue growing, with the World Bank forecasting a 37% annual growth in total mobile data traffic in Sub-Saharan Africa between 2022 and 2028.
Increased spending on airtime and data reflects the growing importance of digital communication and Internet services in Nigeria, with data revenues predicted to outpace voice revenues in the coming years.
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