Foreign investment into Nigeria’s telecommunications sector plunged by 91 percent in the first quarter of 2026, despite regulatory reforms, tariff adjustments and massive spending by operators to improve network infrastructure.
New data from the National Bureau of Statistics (NBS) showed that the sector attracted only $7.24 million in foreign capital during the period, down sharply from $80.78 million recorded in the first quarter of 2025.
The figure also represents a 93 percent decline from the $103.36 million received in the fourth quarter of 2025, making it the weakest quarterly performance for the telecom sector in more than four years.
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The development comes at a time when Nigeria is pushing to deepen broadband penetration, expand digital infrastructure and strengthen its position as Africa’s largest digital economy.
