Telcos revenue hits N7.67tr in 2024 amidst 85% rise in operating cost
Nigerian telecommunication operators experienced a 44.7% surge in total earnings, reaching N7.67 trillion in 2024, according to the NCC's report. This growth was driven by increased data demand, higher subscription rates, and enterprise solutions. However, operating expenses also rose significantly by 85% to N5.85 trillion due to high Right of Way (RoW) charges, inflation, and energy costs. While RoW fees remain a challenge, particularly in South West states like Ogun and Lagos, the NCC has secured zero RoW fees in eleven states including Adamawa, Bauchi, Enugu, Benue, and Zamfara to boost broadband infrastructure deployment. GSM operators accounted for the largest share of revenue, while other categories like collocation services also contributed significantly.