June 8 (THEWILL) — Telecommunications operators in Nigeria have challenged the National Bureau of Statistics (NBS) report showing that the sector attracted just $7.24 million in foreign capital importation in the first quarter of 2026, arguing that the figure does not reflect the true scale of investments flowing into the industry.
The operators, under the umbrella of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), made their position known in a statement issued on Monday in response to the NBS Q1 2026 Capital Importation Report.
According to the NBS, foreign capital inflows into the telecom sector plunged from $80.78 million in 2025 to $7.24 million in the first quarter of 2026.
However, ALTON maintained that the reported figure captures only a fraction of the investments being deployed across the industry.
The association explained that telecom operators continue to attract significant funding through domestic financing channels, reinvested earnings, and other funding mechanisms that may not be adequately reflected in the current capital importation framework.
“Our industry’s substantial capital expenditure figures indicate that investment is increasingly being funded through domestic capital sources and reinvested operational earnings, which may not be fully captured by conventional foreign capital importation metrics,” ALTON stated.
To address the disparity, ALTON called for collaboration among the Nigerian Communications Commission (NCC), the NBS, and the Central Bank of Nigeria (CBN) to develop a more comprehensive framework for tracking investments in the telecom sector.
Providing further context, the association disclosed that Mobile Network Operators, tower companies, and other industry players invested a combined N2.13 trillion in capital expenditure in 2025, while planned capital spending for 2026 stands at N1.86 trillion.
The investments are targeted at network expansion, infrastructure upgrades, technology improvements, and strengthening operational resilience.
ALTON noted that these sustained investments underscore the sector’s commitment to supporting Nigeria’s digital economy agenda despite foreign exchange pressures and broader economic challenges.
The association also credited the Federal Government’s 50 percent tariff adjustment in 2025 for helping operators improve financial sustainability and accelerate capital reinvestment across the industry.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
