Nigeria’s telecommunications service providers have criticized the first quarter (Q1) report from the National Bureau of Statistics (NBS) regarding foreign capital inflow into the sector, which indicated a downturn.
The operators, under the umbrella of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), emphasized the importance of accurately reporting the investment profile of the telecommunications sector, as this would offer stakeholders a more thorough insight into the industry’s health and future direction.
The chairman of the association, Gbenga Adebayo, in a statement co-signed with Damian Udeh, the publicity secretary, noted that last year, Mobile Network Operators (MNOs), Tower Companies (TowerCos), and other industry participants achieved a total capital expenditure of N2.13 trillion, with a projected capital expenditure of N1.86 trillion for 2026 aimed at expanding network infrastructure, enhancing technology, and making essential operational investments crucial for sustaining service quality and coverage.
”These commitments are vital for promoting Nigeria’s digital economy goals and enhancing services for millions of subscribers across the country.
”Although the NBS report shows a decrease in foreign capital inflow into the telecommunications sector from $80.78 million in 2025 to $7.24 million in Q1 2026, this figure seems to reflect only a fraction of the total capital actively utilized in the sector. The significant Capital Expenditure (CAPEX) figures from our industry indicate that the current investments are primarily sourced from domestic capital and reinvested operational earnings—financial avenues that may not be adequately captured by traditional foreign capital importation statistics.
”The difference between the reported foreign capital inflows and the actual investments in infrastructure underscores a discrepancy in the current measurement and reporting of sectoral capital deployment,” stated the MNOs.
In order to accurately reflect Nigeria’s telecommunications sector investment profile, ALTON has respectfully suggested a collaborative effort involving the Nigerian Communications Commission (NCC), the National Bureau of Statistics (NBS), and the Central Bank of Nigeria (CBN) to create a more inclusive and thorough investment-tracking framework.
Nigerian Telecommunications Fault NBS On Telecom Sector Capital Inflow
