Nigeria has been projected to score 182 million mobile subscribers by 2019. The Giant of Africa, which controls the largest economy is having a positive outlook in the telecommunications sector. It is expected to grow at a rate of 6.8% per year between 2014 and 2019 even though the current currency devaluation are likely to result in slower US dollars growth rate.
According to Pyramid Research, Nigeria is expected to generate $10.9 Billion in 2019, up from the $9.2 Billion made in 2013. The telecoms market would grow at a Compound Annual Growth Rate (CAGR) of 2% over the next five years and with mobile data increasing by 16% upwards until 2019.
An analyst at Pyramid Research, Severin Luebke Said;
“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.
Other countries in Africa are likely to follow Nigeria when it comes to mobile technology developments. The increasing demand for mobile data will offer service providers, as well as new entrants to the market, ample opportunity to test and grow their service offerings in Nigeria.”
With mobile data subscribers to reach 182 million by the end of 2019, Nigeria would maintain its position as the biggest mobile subscription market in Africa. This would not only diversify the company’s source of growth, it would also set the standard for future mobile trends.
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