Telecoms contribute ₦5.2 trillion to Nigeria’s real GDP in Q2 2026, its highest in two years 

The telecommunications industry contributed ₦5.199 trillion (approximately  ₦5.2 trillion) to Nigeria’s real gross domestic product (GDP) during the second quarter of 2026. At 9.72%, this is its highest contribution to the country’s GDP in two years.

According to data made available by the National Bureau of Statistics (NBS) on Monday, the contribution represents a 10.61% year-on-year increase from the  ₦4.7 trillion (9.2%) it recorded in Q2 2025. This is another proof of the significant growth the Nigerian telecoms industry has experienced in the last 12 months. 

The 9.72% is its highest contribution to Nigeria’s real GDP since it recorded 14.58% in Q1 2024, nine quarters ago. 

15% of the digital economy 

Also, the telecoms industry led in the digital economy (64.2%), as the sector contributed 15% to real GDP in Q2 2026. In monetary terms saw ₦8.1 trillion of the nation’s ₦53.47 trillion during the quarter. 

Notably, the Nigerian Digital Economy sector comprises the Information and Communication (I&C) and the Financial Institutions (FI) sectors. The industry has remained a top contributor to the Nigerian economy, specifically driven by telecom operators and the banking industry.

The I&C sector contributed 11.7% to real GDP in Q2 2026, compared to 11.8% in Q2 2025. In monetary terms, the sector contributed ₦6.27 trillion, up from ₦5.72 trillion in Q2 2025. 

In further breakdown, Telecommunications accounted for ₦5.2 trillion (82.84%), followed by Broadcasting with ₦762.3 billion (12.15%), and Sound and Media Production with ₦305.6 billion (4.87%). Publishing recorded the least contribution of ₦8.6 billion, representing 0.14%.

The FI sector, comprising financial institutions and Insurance, contributed 3.3% to real GDP in the second quarter of 2026. This, in monetary terms, revealed that the sector saw ₦1.8 trillion.

The further breakdown shows that Financial Institutions recorded the highest contribution of ₦1.57 trillion (87.2%), leaving Insurance with ₦230.6 billion (12.8%). Comparison shows that FI contributed 3.23% in Q2 2025, amounting to ₦1.65 trillion. 

Overall, Nigeria’s real GDP grew by 4.43% YoY in real terms in the second quarter of 2026, higher than the 4.23% recorded in the second quarter of 2025.

Also Read: Voice and data usage drives telecoms’ N4.7trn contribution to Nigeria’s real GDP in Q1’26.

Telecoms on a fine run 

For every ₦100 of economic output Nigeria produced in Q2 2026, ₦9.72 came from telecommunications. While oil has traditionally been a noticeable driver of GDP, telecoms has been catching up because almost everyone makes calls (voice) and browses the internet (data).

Industry data by the Nigerian Communications Commission (NCC) shows that total telecoms users now stand at 192.2 million, out of the estimated 230 to 250 million Nigerians. Internet users climbed to 156.9 million, showing that 81.6% of Nigerians are mobile data users.

The telecoms sector's ₦5.2 trillion contribution to Nigeria's real GDP testifies to its continuous growth. It shows how the industry powering Nigeria’s connectivity has recovered since the economic shock it experienced in 2024/2025. 

Following the upward review of voice and data calls in January 2025, the industry has continued to improve in data usage, internet penetration and revenue streams for operators. 

During the first six months of 2026, Nigerians used 7.1 million terabytes of data, showing the massive internet usage amid demand for high-speed data, new smartphone interfaces, and an increase in file uploads and downloads. This meets with the surge in financial inclusion powered by mobile money and smartphone adoption. 

With the industry recording its highest contribution in two years, it shows that more Nigerians are streaming audio and video, using social media, and working remotely. It’s the growth of fintech and mobile money riding on telecom networks, with more businesses now depending on the internet than before. 

The surge in users explains the rise in contribution, which has witnessed a continuous increase in capital expenditure across the industry.

Project Bridge, the federal government’s 90,000km fibre optic cable rollout across the country, is set to commence in October. This is a project tipped to expand Nigeria’s internet coverage and broadband penetration to enhance 4G/5G networks. 

Also, the deployment of 3,700 telecom towers in rural areas, to commence in October,  seeks to connect underserved Nigerians currently without network coverage and aims to bring 20 million Nigerians living in these communities online.

Across the first half of 2026, MTN Nigeria reportedly spent ₦620.5 billion on capex while Airtel claimed it used ₦287.6 billion ($211 million) for 4G/5G tower deployment and necessary investments. 

Also Read: Airtel Africa bets major share of $1.1bn CAPEX on spectrum acquisition and fibre rollout in 2026