By Ibiyemi Mathew
Industry statistics released by the Nigerian Communications Commission (NCC) has revealed that the Nigerian Telecom sector added 4.2m subscribers to its existing subscribers base in November 2022.
According to the statistics, the total number of subscribers hit 218,953,849 in November 2022 compared to 214,696,227 in October 2022.
Nigeria’s broadband penetration also hit a new high of 46.24 per cent in November 2022.
The latest statistics indicated that while broadband penetration grew to 46.24 per cent, broadband subscriptions hit 88.27 million in 11 months of 2022.
According to the data, broadband subscriptions grew by 13.11 per cent from 78.04 million as of December 2021 to 88.27 million as of November 2022. Broadband penetration also grew by 5.36 percentage points to 46.24 per cent
Earlier, a World Bank report had stated that every 10 per cent increase in broadband penetration in any country would improve its GDP by at least 4.6 per cent.
The swift rollout of broadband services is expected to address various socio-economic challenges the country faces, including the need to grow its economy, expand the tax base, and improve digital literacy and educational standards.