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ICT Investment Opportunities in Nigeria - 2010

Technology Strategies International
March 1, 2010
53 Pages - SKU: TSI2663635

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Countries covered: Nigeria

Nigeria is one of Africa’s largest markets, with a population exceeding 150 million people. It has enjoyed a GDP growth rate averaging more than 6% per year over the past eight years. The telecommunications market is fully liberalized, with competition allowed in virtually all segments. And there is a unified licensing regime in place, which allows operators to offer converged services. The total number of fixed lines (including fixed wireless access) was as paltry 1.4 million at the end of 2009. The failed sale of Nitel, the state-owned fixed line operator, resulted in the loss of 90% of its subscribers. The Nigerian government is once again looking for a private sector partner to take control of the troubled Nitel. And while, overall, fixed wireless access has grown, there is a great deal of volatility amongst the fourteen licensed operators.

There are more than 70 million mobile subscribers in Nigeria and it has the largest mobile subscriber base in Africa. With the mobile subscriber penetration potential being more than 100%, there is ample room for growth in the market. National backbone coverage is limited and, in keeping with the government’s Vision 2020 initiative, there are plans underway to extend the backbone, which will provide additional opportunities for investors. The imminent lighting up of the MainOne and Glo-1 undersea cables is also likely to yield a wide range of growth opportunities in making international bandwidth more readily available.

The Nigerian government has established a number investment promotion initiatives whereby it will provide funding support to investors that address certain types of investments, most notably those aimed at providing broadband access to specific stakeholder groups or communities. The government is also actively promoting electronics manufacturing in Nigeria on the basis that Nigerian ICT markets are big enough to support local manufacture. Nigeria thus offers a wide range of investment opportunities in a rapidly growing market.

In this report we provide a comprehensive analysis of propsects for investment in ICTs in Nigeria. Forecasts are provided for mobile, fixed and internet usage. Investment opportunities are identified.

Executive Summary: Introduction; Background; Objectives of the Study; Research Methodology; A Note on Forecasts; Currency; Acknowledgements; Investment Opportunities in the ICT Sector in Nigeria; Rationale for selecting Nigeria; Overview of the Nigerian Economy; Oil Dependence; Regionalism; Corruption; Vision 2020; Prospects for the Nigerian Economy; ICT’s in Nigeria; The Fixed Line Market; Undersea Cable; The Mobile Market; Internet; Challenges in Nigerian ICT Markets; Profiles of Key Players; Nitel; MTN Nigeria; Globacom Nigeria; Zain (formerly Celtel); EMTS; MainOne Cable Company (Nigeria) Ltd; Visafone Communications Ltd; Starcomms Nigeria PLC; G-Cell Wireless Ltd (GiCell or G-Cell); Helios Towers; NigComSat; IPNX; Regulatory Context and Prognosis; Overview of ICT Legislation; Licensing Framework; Investment Environment; Foreign Investment; Banking Sector; Private Equity; Investment Prospects; Historical Investment in the ICT Sector; Market Growth Prospects and Forecast; The Fixed Line/Fixed Wireless Access Market; Mobile Market Forecast; Internet Market Forecast; Government Investment Promotion Initiatives; Investment Opportunities in the Fixed Line Network and Backbone; Investment Opportunities in Mobile Networks; Other Investment Opportunities; Investment in Nigeria in Perspective
Appendix 1: Key Contacts
List of Figures: Nigeria: Real Annual GDP Growth Rate; Teledensity in Africa (Nigeria); Nigeria: Fixed Lines in Services (2000 - 2009); Nigeria: Mobile Subscribers (2000 - 2009); Nigeria: Internet Users (2000 - 2009); Nigeria: Cumulative Private Sector Investment (2000 - 2008); Nigeria: Fixed Line Forecast (2000 - 2014); Nigeria: Mobile Subscriber Forecast (2000 - 2014); Nigeria: Internet Usage Forecast (2000 - 2014); Nigeria: Internet Subscriber Forecast (2000 - 2014)
List of Tables: Nigeria: Key Statistics; ICT Usage in Nigeria (2008 and 2009 estimates); Nigeria: Mobile Market Share by Service Provider (September 2009); Nigeria: Mobile Market Growth by Service Provider (Q1 to Q3 2009); MTN Nigeria Financial Data; Zain Nigeria Financial Data; Starcomms Financial Data; Registered Financial Institutions in Nigeria; Investment Companies and Funds Active in Nigeria and Sub-Saharan Africa

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