Telcos’ revenue per user declines 41% amid rising costs

The average revenue per user (ARPU) for Nigerian telecommunications companies declined by 40.87 percent to $1.85 in the quarter ending September 2024, compared to $3.12 in the same period in 2023, underscoring the negative impact of the weakened naira on the sector. According to financial reports seen by BusinessDay, MTN Nigeria Communications Plc and Airtel Nigeria experienced ARPU drop to $2.09 (from $3.24) and $1.60 (from $3), respectively. In the period under review, MTNN's service revenue grew by 33.6 percent to N2.4 trillion in the nin