LAGOS, Feb 17 – Foreign direct investment into Nigeria’s telecommunications sector rose to $392.92 million between January and September 2025, according to capital importation data released by the National Bureau of Statistics.
The nine month total exceeded the $319.72 million recorded in the same period of 2024, representing a 23 percent year on year increase.
The growth was driven by a sharp rise in third quarter inflows. Capital importation into telecoms reached $208.51 million in Q3 2025, compared with $14.74 million in Q3 2024. The latest figure marks an increase of more than fourteen times compared with the same period of the previous year.
Earlier in 2025, telecom inflows stood at $80.78 million in the first quarter and increased to $103.63 million in the second quarter, before accelerating in the third quarter.
By contrast, 2024 recorded stronger inflows at the start of the year before weakening. The sector attracted $191.57 million in Q1 2024 and $113.42 million in Q2, before declining to $14.74 million in Q3.
In January 2025, the Nigerian Communications Commission approved a 50 percent tariff adjustment for telecom operators, citing rising operational costs and the need to sustain service delivery. The approval followed years of unchanged tariffs despite inflation and exchange rate pressures.
The Association of Telecommunications Companies of Nigeria said operators would channel additional revenue into network upgrades and service improvements.
Nigeria did not meet its 70 percent broadband penetration target in December 2025 as industry stakeholders have cited high right of way charges, limited fibre rollout, power constraints and funding gaps as key challenges to expanding connectivity nationwide.
