Deadline Set For SIM-NIN Linking

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Major telecom operators, including MTN and Airtel, are set to block SIM cards not linked with the National Identification Number (NIN) by February 28, 2024.

A recent report by market intelligence firm Mordor Intelligence anticipates substantial growth in the Nigerian telecom market; projecting a value of $11.43 Billion by 2029. The report indicates an estimated cumulative average growth rate (CAGR) of 4.70 Percent from 2024 to 2029, with the current market value standing at $9.09 Billion.

The transformation of Nigeria’s telecom sector is attributed to governmental initiatives boosting internet infrastructure, increased broadband connectivity, and innovations by key market vendors. Factors driving this growth include heightened data consumption, 5G deployments, and various innovations within the telecom market.

The report focused on the surge in smartphone adoption; driving the development of a dynamic digital services sector. With millions of Nigerians using mobile apps for social networking, e-commerce, and financial services, the accessibility, speed, and efficiency offered by smartphones are encouraging broader smartphone investments.

Additionally, the rise of e-commerce and digital service platforms in Nigeria is boosting the demand for reliable telecom services. The convenience of accessing services through mobile devices has accelerated the growth of telecom users.

The launch of the National Digital Economy Policy and Strategy (NDEPS 2020-2030) by the Nigerian government is expected to further fuel the demand for mobile telecom services. The policy aims to provide low-cost telecom services; aligning with the surge in demand for data and voice services in the consumer segments.

As of August 2023, active mobile subscriptions in Nigeria stood at 220.3 Million, with 159 Million subscriptions for internet services. Broadband subscriptions accounted for 86.9 Million during the same period.

The Nigerian Communications Commission (NCC) reported a total investment of $75.6 Billion in the country’s telecom industry by 2021: comprising both Foreign Direct Investments (FDI) and local investments.

 

 

 

 

 

 

 

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