Nigeria’s telecom giants; MTN, Airtel, and Globacom are ramping up investments to meet surging data demand, as Nigerians consumed 1.15 million terabytes (TB) in August 2025, up from 1.13 million TB in July, according to the NCC.

To sustain network quality, MTN Nigeria invested ₦225.85 billion in Q4 2024, while Airtel Africa spent US$456 million in the first nine months of 2024, with plans to raise total capex to US$750 million by early 2025.

Following a 50% tariff increase approved in January, telcos have unlocked over US$1 billion for infrastructure upgrades. MTN alone spent ₦565.7 billion in H1 2025 up 288% year-on-year to expand 4G coverage and build new towers.

Airtel Africa’s profit jumped 370% year-on-year in Q2 2025, driven by data and mobile money. Nigerians also spent ₦2.53 trillion on calls and data in H1 2025, a 50.9% increase from 2024.

Collaboration to Cut Costs

To ease capital strain, MTN and Airtel signed a deal to share network infrastructure in Nigeria and Uganda, focusing on radio and fiber networks to reduce costs and expand reach.

Analysts warn that while growth prospects remain strong, rising costs, FX volatility, and regulatory hurdles could challenge profitability. Sustained investment and smart cost-sharing will be key to maintaining momentum in Africa’s largest telecom market.