Telecomms Sector Records N2.8trn In Revenue For 2020

​​ANALYSIS: COVID-19 Induced Online Communication Pushes Nigeria's Data Usage Up By 66.5%

In a recently released report by the Nigerian Communications Commission (NCC), the telecomms sector reported a total revenue of N2,880,660,709,902.25 in 2020.

The report titled, ‘2020 Subscriber/Network Data Report’ noted that the telecomms sector saw a 12.63 percent revenue increase from the previous year.

In 2019, the sector recorded a total revenue of N2.516 trillion, with the operating costs growing from N1.782 trillion in 2019 to N1.783 trillion, representing a 0.07 percent difference.

Number of Subscribers

The report stated that the total number of subscribers grew from 184,699,409 in 2019 to 204,601,313 active voice subscriptions in 2020, representing a 10.78 percent increase.

According to the report, the telecomms sector contributed 12.45 percent to the country’s Gross Domestic Products (GDP), against the 10.60 percent recorded in Q4 2019.

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Foreign Direct Investment (FDI) into the sector for the 2020 business year was $417,481,615.30 against the $942,863,833.96 accrued in 2019.

This is representative of 55.7 percent in capital importation on a year-on-year basis, according to the report.

The staggering drop in capital importation betweeen 2019 and 2020 was attributed to the advent of the COVID-19 pandemic that caused the shuttering of business activities across the globe.

CAPEX (domestic investment) also saw a decline by 18.62 percent to N408,151,627,158.62 at the end of 2020, while the commission ascribed the drop to the COVID-19 pandemic.

The report said that the telcomms network with the highest increase in active voice subscription was MTN with a 17.45 percent increase year-on-year, while EMTS recorded a drop of 4.8 percent year-on-year.

About Author

Kindness Udoh is a writer and media enthusiast with vast experience in journalism, copywriting, and features across beats. He also has professional certifications in creative writing. You can reach him via [email protected]

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