Nigeria becomes Africa’s biggest mobile telecom market

The Nigerian telecom market grew by 23 percent (in US dollar value) in 2008, generated $8.4 billion in overall telecom service revenues, notes Yejide Onabule, analyst at Pyramid Research and author of the report. "With mobile subscriber penetration at just 42 percent, Nigeria’s total telecom revenue is expected to increase at a CAGR of 5.7 percent from US$8.42 billion in 2008 to $11.14 billion in 2013," Onabule says.

Since liberalization of the market in 2003, Nigeria’s telecom industry has experienced exceptional growth rates, which is attracting new operators. "The bulk of service revenue will continue to come from mobile, which will generate 83 percent of total service revenue over the next five years," Onabule adds. [READ MORE>>>]