Telecoms Now Nigeria's 4th Largest Economy, Contributing ₦7.97 Trillion in Q1

Nigeria's telecom sector generated ₦7.97 trillion ($5.80 billion) in Q1 2026, becoming the country's fourth-largest economic contributor behind crop production, trade, and real estate. The Information and Communication sector contributed 11.31% of real GDP, growing 10.98% year-on-year—outpacing Nigeria's overall 3.89% GDP growth.

Data consumption drives this boom, climbing 40.78% to 4.07 billion GB in Q1. At ₦575 per GB, Nigerians spent ₦2.34 trillion on internet services alone—₦678 billion more than last year. If this 34% growth pace continues, Nigerians could spend ₦10.21 trillion on internet access this year.

Higher prices also fuel growth: data costs rose 100% since 2024, call prices jumped 50% since 2025. Yet connectivity is becoming less discretionary—like food and shelter—more essential for work, banking, and daily life. MTN's tax bill surged 176.83% in Q1, showing how this boom translates to government revenue.

With broadband penetration at just 54.30% and 32 million new mobile internet subscribers expected by 2030, telecom's economic impact likely has further room to grow. How will this connectivity-driven economy reshape your business or personal finances?

SOURCE: https://techcabal.com/2026/06/01/how-every-recharge-fed-nigerias-5-80-billion-telecom-machine/