Mobile connection revenue in Nigeria has been on a declining trajectory since 2013, decreasing from £4.12bn to £2.68bn in the actual data up to 2023. Despite a brief 0.41% increase in 2020, the overall trend has been negative, with revenue dropping by an average of 4.31% per annum over the last five years. By 2023, the revenue stood at £2.68bn. The forecast data from 2024 to 2028 indicates a continued decline, with an average annual decrease of 4.03%, projecting mobile connection revenue to reach approximately £2.09bn by 2028.
Future trends to watch for:
- Continued decline in mobile connection revenue as market saturation and competition increase.
- Shift in consumer preferences towards data-driven services and potential emergence of alternative revenue streams like 5G and digital services.
- Regulatory and economic shifts impacting telecom businesses.
- Opportunities for growth via mobile financial services and partnerships with tech and content providers.
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