Despite harsh operating environment, telecom operators comprising of GSM operators, fixed wired operators, internet service providers (ISPs), value added service (VAS) operators, collocation and infrastructure sharing operators, as well as other telecoms operators, recorded N3.247 trillion revenue, with total operating cost of N1.7 trillion in 2021.
According to the statistics posted on the official website of the Nigerian Communications Commission (NCC), the regulator said the collation was based on the submission it received from the telecom service providers for the year ended December 2021.
It also showed that capital expenditure (domestic investment) stood at N1, 24,116,990,000.00 as at the end of 2021, based on submissions from responsive licensees.
According to the statistics, capital flow (foreign direct investment) into the Nigerian telecoms industry in 2021 was approximately $417 billion as against $942 million it was in 2019.
A breakdown of the figures showed that Global System for Mobile Communications (GSM) operators alone raked in a total revenue of N2.7 trillion, while fixed wired operators recorded N375 billion.
Similarly, internet service providers raked in N59 billion, while VAS providers recorded N32 billion.