According to a research by Pyramid Research has predicted the Nigerian telecom market will generate $10.9 billion in 2019 against $9.2 billion in 2013.
The report says that the growth in the Nigerian telecom market will be slightly reduced in 2015, as the market recovers from the large number of fixed-line disconnections, long-term growth of the telecom sector will not to be affected.
The telecoms market will grow at a Compound Annual Growth Rate (CAGR) of 2 percent over the next five years, with mobile data increasing at 16 percent up until 2019. Growth of around 6.8 percent per year for the period between 2014 and 2019 will be supported by an increase in mobile user base. The mobile subscriber base will be growing to 182 million in the coming five years.
“Political instability and low oil prices have led to a depreciation of the Naira against the US Dollar, but the telecommunications market will remain an integral part of the country’s efforts to diversify its sources of growth,” said Severin Luebke, analyst at Pyramid Research.
Nigeria will remain the biggest market for mobile subscription on the African continent. Mobile data will be one of the focus areas for telecoms in Nigeria.