April 7, 2026/CSL Update

According to the latest data from the Nigerian Communications Commission (NCC), active mobile subscriptions rose by 13.7 million year-on-year (+8.0%) to 184.6 million in February 2026, up from 170.9 million in January 2025. On a month-on-month basis, subscriptions increased by 2.4 million (+1.3%) from 182.2 million in January.

We expect this upward trend in subscriber growth to continue in the short to medium term, supported by  the resolution of key structural constraints that previously weighed on the sector. Notably, many previously deactivated lines are being reactivated following improved compliance with SIM registration and NIN linkage requirements. In addition, network operators are making progress in streamlining onboarding and reactivation processes. Together, these factors should sustain the recovery in active mobile subscriptions.

Operator performance remained broadly positive in February, underscoring the sector’s ongoing rebound. MTN Nigeria, the market leader, recorded a net addition of 1.1 million subscribers, bringing its total base to 95.3 million (January: 94.2 million). Airtel Nigeria also posted strong growth, adding 987,358 subscribers to reach 63.0 million (January: 62.0 million). Globacom continued its gradual expansion, with its subscriber base rising by 151,927 to 22.6 million from 22.5 million in the previous month. Meanwhile, T2 subscribers increased from 3.3 million in January to 3.4 million in February, reflecting broad-based growth across operators.

Looking ahead, subscriber growth is expected to strengthen further, driven by the continued reactivation of inactive lines and the resumption of new SIM registrations. Over the longer term, the sector remains well positioned for sustained expansion, supported by favourable demographics and rising digital adoption. With significant headroom for deeper market penetration, increasing smartphone penetration, ongoing 4G and 5G rollouts, and expanding broadband access, we maintain a positive outlook. These structural drivers are expected to support continued revenue growth, innovation, and investment across the telecommunications sector.

Click here to download full report: ​​CSL Nigeria Daily – 07 April 2026 – Telecoms.pdf​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​