Nigeria’s Mobile Subscribers to Grow at 19% in the Next 6 Years

  • Nigeria’s Mobile Subscribers to Grow at 19% in the Next 6 Years

A new study has shown that Nigerian mobile subscribers would grow at a 19 percent rate between now and 2025, the fastest in Sub-Saharan Africa.

The study conducted by GSMA estimated that Ethiopia will follow Nigeria with 11 percent growth rate.

While the whole Sub-Saharan Africa will add 167 million new mobile subscribers in the next 6 years to take the total number from 456 million recorded in 2018 to 623 million by 2025.

GSMA report states: “Sub-Saharan Africa will remain the fastest-growing region, with an additional 167 million subscribers over the period to 2025. This will take the total subscriber base to just over 600 million, representing around half the population.

“Nigeria and Ethiopia will record the fastest growth rates between now and 2025, at 19% and 11% respectively. Across the region, the demographic bulge will result in large numbers of young consumers becoming adults and owning a mobile phone for the first time.

“This segment of the population will account for the majority of new mobile subscribers and, as ‘digital natives’, will significantly influence mobile usage patterns in the future.”

The growing number of mobile users will enhance fintech, improve the e-commerce industry and increase economic productivity across the African continent.

Again, with the current 239 million people using mobile internet services (out of 456 million mobile users) expected to rise to 483 million 2025, more investment should be expected going forward.

Africa’s growing internet access and mobile usage have helped open up the continent for investment.

This explains why startups like OPay raised $50 million investment fund last month, MAX.ng $7 million and Gokada $5.3 million.

Foreign investors are focusing on Africa given its possibilities. Nigeria’s mobile internet users rose to 122.6 million in May to position Nigeria at the center of it all.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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