Forecast: Total Mobile Cellular Telephone Subscriptions in Nigeria

The total number of mobile cellular telephone subscriptions in Nigeria has shown steady growth over the past decade, increasing from 127.25 million in 2013 to 206.28 million in 2023. While the growth rates have varied, a noticeable surge occurred in 2020 with a year-on-year increase of 9.48%. By 2023, the pace slowed to a year-on-year increase of 3.57%. The average annual growth rate (CAGR) over the last five years (2019-2023) was 4.03%.

Looking ahead, the forecasted data predicts continued growth, reaching 240.12 million subscriptions by 2028. The forecasted CAGR for the next five years is estimated at 2.33%, slower than the previous period but still indicating expansion. This results in a forecasted five-year growth rate of 12.18% by 2028.

Future trends to watch for include:

• The impact of technological advancements on subscription rates.
• The potential market saturation as mobile penetration increases.
• The role of regulatory changes and policy initiatives in driving or hindering growth.
• Economic factors that could influence consumer spending on mobile services.