Thursday, October 22, 2020 / 11:09
AM / by FBNQuest Research / Header Image Credit: Marketing Evolution
latest data released by the NCC, the industry regulator, show that internet
subscriptions stood at 149.3 million in August, representing y/y growth of 22%.
The figure implies density of 75% in a population estimated at 198 million,
placing Nigeria well above the African average of around 16% as indicated by
McKinsey. In August there were c.2.6 million new internet subscriptions. Given
that mobile internet devices require SIM cards to function, the steady m/m
increase in subscriptions can be largely attributed to the ongoing
work-from-home approach as well as virtual learning conducted by schools yet to
resume physical classes.
data show that in June MTN Nigeria (MTNN) accounted for the largest share (43%)
of total subscriptions. We noticed from the commission's data that in August
the network operator experienced significant outgoing porting activity, with a
loss of over 4,469 subscribers. However, its incoming porting subscriptions
stood at 5,188 thereby resulting in a net gain of 719 subscriptions.
latest earnings release by MTNN show that revenue grew by 8% y/y in Q2, mainly
on the back of stellar y/y growth of c.56% in data revenue.
the mobile network operators, MTNN recorded a 2.5% m/m increase in internet
subscriptions in August. Meanwhile, 9mobile, Airtel and Glo recorded m/m
increases of 0.5%, 1.9% and 0.6% respectively in the same month.
Internet subscriptions (% chg; m/m)
Nigerian Communications Commission (NCC); FBNQuest Capital Research
penetration currently stands at 43.3%. The FGN targets 76% by next year. The
sector still requires significant investment in telecommunications
infrastructure to drive broadband penetration and affordability, and Nigeria's
on the latest national accounts, in Q2 2020 the telecommunications sector grew
by 18% y/y and contributed 14% to total GDP in the same quarter.
- Continuing Growth in Internet Subscriptions, Stood At 143.3m in June
Voice Subscription Grew By 2.48% in Q1 2020 - NBS
- Steady Rise
in Internet Subscription; Stood At 138.3m in April 2020
Penetration: Ekiti State Crashes Right of Way Charges from N4,500 to N145
- Uptick in
GSM Internet Subscription in February 2020
Voice Subscription Grew By 3.08% in Q4 2019 - NBS
Penetration in Need of a Leg-up; Internet Subscriptions Stood At 128.4m in
Implements Safety Measures To Curb Coronavirus Spread
- Broadband Penetration Set to Grow
- Uptick in
GSM Internet Subscription By 15% YoY To Stand At 123.2m