Nairametrics| Two successive quarterly reports by the Nigerian Communications Commission (NCC) revealed that Etisalat Nigeria lost 2.9 million subscribers in six months. Here’s what we know about the reports:
- The reports cover the quarters ended September-December 2016 and January-March 2017.
- Airtel Nigeria gained the largest number of subscribers as it added 500,000 subscribers between September 2016 and March 2107.
- Globacom’s subscribers also increased from 36.9 million in September 2016 to 37.3 million as at March 2017.
- MTN Nigeria lost 200,000 subscribers within the six month period, but still remains the largest network in the country with 60.5 million subscribers.
- Etisalat Nigeria had the biggest decline as it lost 2.9 million subscribers within the last six months.
At an average revenue per user at N1830, the drop in customers has cost the company almost N7 billion. The drop in revenue may it make more difficult for the telecoms firm to service the $1.2 billion loan it owes several banks in the country. Both the Central Bank Of Nigeria (CBN) and the NCC stepped in to mediate talks. Recent talks held in London lasst week remain deadlocked. Etisalat Nigeria is owned by Etisalat of the UAE, Mubadala, and some Nigerian investors lead by Hakeem Bello Osagie.