The Nigerian telecommunications market remains heavily dominated by MTN Nigeria and Airtel Africa, with the two operators jointly controlling 86.12% of the industry, according to new data from the Nigerian Communications Commission (NCC).
Figures released for July show MTN holding the largest market share at 52.7%, with 89.14 million subscribers, while Airtel Nigeria followed with 33.4%, representing 56.52 million subscribers. Together, the two companies tower over their rivals Globacom, which holds 12.3% (20.74 million subscribers), and 9mobile, which lags behind with just 1.6% (2.73 million subscribers).
Despite their dominance, the sector recorded a contraction during the period, as active telephony subscriptions dropped by 1.4% month-on-month to 169.33 million, down from 171.73 million in June. Analysts at Cordros Capital Limited attributed the decline largely to corrections in reporting discrepancies by one of the major operators.
Internet subscriptions also fell by 2.1% month-on-month, reaching 138.22 million compared to 141.17 million in June. On a year-on-year basis, the industry witnessed deeper cuts, with telephony and internet subscriptions dropping by 20.4% and 11.3% respectively, reflecting the impact of SIM disconnections linked to compulsory National Identification Number (NIN) compliance and ongoing data adjustments.
On the Nigerian Exchange, MTN Nigeria Plc and Airtel Africa Plc jointly maintained a market capitalization of N17.816 trillion. Airtel Africa’s 3.758 billion outstanding shares were valued at N8.683 trillion, trading at N2,310.50 per unit, while MTN Nigeria’s 20.995 billion shares closed at N9.138 trillion at N435 per unit.
Industry analysts believe subscriber growth is likely to rebound as SIM reactivation initiatives gain traction and regulatory compliance pressures ease. They project that MTN and Airtel will lead the recovery, leveraging their extensive distribution networks and strong market presence.
