Navigating Transformation: Revitalizing Nigeria’s Telecom Sector
Two years ago, Nigeria’s telecommunications industry was weighed down by mounting challenges that hindered its growth. Sector-wide debts—both internal and those owed to banks—combined with repeated delays in the government’s NIN-SIM linkage policy, which had been extended seven times since December 2020. Alongside tariffs that had remained unchanged for over a decade, investor confidence waned, resulting in a worrying decline in capital inflows to a sector heavily dependent on continuous investment.
The situation was compounded by macroeconomic reforms, including petrol subsidy removal and the unification of foreign exchange rates, which placed additional pressure on operators already grappling with high operating costs.
Amid this turbulence, Dr. Aminu Maida was appointed Executive Vice Chairman (EVC) and Chief Executive Officer (CEO) of the Nigerian Communications Commission (NCC) on October 11, 2023. His tenure began at a time when the sector’s stability was under threat despite being anchored on progressive legislation and long-standing policy frameworks.
Dr. Maida’s leadership ushered in a renewed focus on revitalization—reassessing outdated policies, recalibrating tariffs to attract fresh investments, and resolving long-standing financial bottlenecks. A key part of his reform agenda also involved streamlining the NIN-SIM linkage process to reduce disruptions for subscribers and operators alike.
He placed particular emphasis on infrastructure expansion to meet the surging demand for connectivity and ensure reliable, high-quality service delivery. Through these interventions, the industry is being repositioned for stability, resilience, and sustainable growth—consolidating its role as a cornerstone of Nigeria’s digital economy.
MTN MoMo and Africa’s Financial Revolution: Toward a Borderless Payment Ecosystem
In the first half of 2025, MTN’s mobile money platform, MoMo, processed an impressive $2.1 billion in international remittances across 14 markets, underscoring its growing influence in Africa’s financial ecosystem. This milestone represents a major step forward for MTN Group Fintech, the financial services arm of Africa’s largest telecom operator, as it pursues a vision of seamless, secure, and borderless financial transactions across the continent.
According to CEO Serigne Dioum, the goal is to move financial inclusion in Africa beyond basic access. “Inclusion becomes sustainable when payments are part of daily life,” he told TechCabal, stressing that the next phase of financial inclusion must focus on helping people build wealth and achieve economic empowerment.
The transformation is visible in the numbers. The GSMA State of the Mobile Money Industry Report 2025 revealed that mobile money contributed roughly $190 billion to sub-Saharan Africa’s GDP in 2023, up from $150 billion the previous year—representing over 5% of GDP in many regions. Globally, the sector contributes $720 billion to GDP, growing at 12% year-on-year.
With 283 million active mobile money accounts and $1.1 trillion in annual transactions, MTN MoMo is redefining digital finance in Africa. Its impact reflects how mobile money has evolved from a payment solution into a dynamic engine of economic participation and sustainable development.
MTN Accelerates Broadband Expansion in Nigeria with New Fiber Integration Plans
MTN Nigeria is intensifying efforts to expand broadband coverage by integrating fiber-optic infrastructure into new housing developments nationwide. The initiative aims to deliver faster, more reliable internet access while addressing persistent challenges such as vandalism, right-of-way barriers, and damage to existing infrastructure from road projects.
The telecom giant commended the Nigerian Communications Commission (NCC) for recognizing telecom infrastructure as critical national assets and for implementing supportive regulatory policies.
Aligned with the National Broadband Plan and the Digital Economy Policy, MTN’s initiative targets affordable high-speed connectivity for homes, businesses, and SMEs. As Nigeria’s population grows and urbanization accelerates, the need for low-latency broadband to power data-driven services, education, and remote work becomes increasingly vital.
By collaborating with infrastructure providers, state governments, and local contractors, MTN aims to achieve a sustainable rollout that strengthens Nigeria’s digital backbone. These strategic partnerships are expected to enhance broadband accessibility, spur innovation, and contribute significantly to national economic growth.
Glo Foundation Empowers Young Girls on International Day of the Girl Child
The Glo Foundation, the corporate social responsibility arm of Globacom, marked the International Day of the Girl Child with an inspiring mentorship event and symbolic walk for hundreds of schoolgirls across Nigeria.
In Lagos, 100 girls from five secondary schools were hosted at Globacom’s head office, Mike Adenuga Towers, Victoria Island. Participating schools included Vivian Fowler Memorial College, Queen’s College, Herbert Macaulay Girls Senior High School, Kuramo Senior College, and Victoria Island Secondary School.
During the event, the girls engaged with senior female executives of the company. Mrs. Mojisola Ashieru Sweet, Director of Strategy and Board Affairs, encouraged them to embrace confidence and self-belief in their pursuit of success. Similarly, Mrs. Jumoke Aduwo, Head of Human Resources, emphasized resilience, integrity, and determination as essential traits for personal and professional growth.
Through such initiatives, Globacom continues to promote gender equality and youth empowerment—nurturing the next generation of female leaders and reaffirming its commitment to social development through education and mentorship.
