9mobile, Nigeria’s fourth-largest telecom operator, has experienced a significant decline in its market share, which has now fallen to a historic low of 1.99%. The company, which currently has 3.2 million subscribers, has seen its subscriber count stagnate for two consecutive months, according to data from the Nigerian Communications Commission (NCC). This marks a stark contrast to its peak in 2015, when it operated as Etisalat Nigeria and boasted approximately 23.4 million subscribers, translating to about 15.7% of the market share.
While 9mobile’s subscriber base has remained flat, its competitors have seen substantial growth. Market leader MTN Nigeria has increased its market share to 51%, now serving 84.6 million subscribers, up from 81.2 million in November. Airtel has also expanded its reach, growing its subscriber base to 56.6 million in December, an increase from 55.4 million the previous month. Globacom, despite earlier setbacks due to a regulatory audit, has rebounded, raising its subscriber count from 19.6 million to 20.1 million by year-end.
9mobile stands out as the only major telecom operator not to improve its subscriber numbers in 2024, raising concerns about its ongoing decline.
In July 2024, Light House Telecom acquired a 95% stake in 9mobile for an estimated $750 million. Since the acquisition, the new ownership has made leadership changes, appointing a new chief executive and chief operating officer, and reassigning various department heads to strengthen the company. However, the new owners have yet to inject capital into the business, which many industry experts regard as essential for revitalizing operations.
A telecom executive, speaking on anonymity, expressed concerns regarding the funding situation: “The funding is still not clear. The new buyer has not done anything; no new deployments and they haven’t done any maintenance. They may start putting in money now that the tariffs have increased.”
The lack of capital investment is particularly troubling given the operational challenges facing 9mobile. Industry insiders emphasize that for the company to regain market share, it must modernize its network infrastructure, enhance customer acquisition strategies, and potentially lower prices to remain competitive. Without the necessary funding, these critical objectives may remain unattainable.
9mobile’s stagnant subscriber base is emblematic of broader challenges, including issues related to network maintenance and customer retention. Absent capital for new initiatives, the company risks falling further behind its competitors, who continue to invest in expanding their services and improving their offerings.
