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Service providers outside GSM operators, ISPs generate N449b in 2019

  • Employ 1,996 Nigerians, 59 expatriates

Service providers, including Internet service providers (ISPs), and fixed wired players generated N18.6 billion more in 2019 than their 2018 collective earnings.

Specifically, the players, excluding GSM operators, generated N449.1 billion in 2019 against N430.5 billion earned a year before. The 2019 Subscriber/Network Data report by the Nigerian Communications Commission (NCC), showed that the service providers, however, spent N42.4 billion more in 2019 in operating cost.

As at December 2019, the operating cost incurred was put at N319.9 billion against N277.5 billion spent a year before, which was an increase of 15.2 per cent.

NCC said the increase in incurred expenses may be a consequence of the exchange rate effects in the industry. According to the report, notable service providers, such as Galaxy Backbone Limited, generated N7.1 billion in 2019, and spent N3.78 billion as operating cost. Interconnect Clearing House Limited earned N746.9 million, with N637 million deployed in operating cost in the period under review.

Further, Medallion Communications Limited with an operating cost of N228.9 million, earned about N344 million; Intercellular Nigeria Limited, raked in N1.1 billion against N152.2 million operating cost; IHS Nigeria, N131.9 billion, and spent N108.3 billion. IHS Towers Nigeria operated with N14.8 billion cost, and earned N22.6 billion.

Alpha Technologies Limited after operating with N316.3 million, earned in revenue N289.6 million; Communications Towers Nigeria operated with N79.2 million with a revenue of N838.4 million. Creditswitch Limited operated with N652.4 million and the revenue was N658.5 million.

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