The 2023 Subscriber/Network Performance Report of the Nigerian Communications Commission (NCC) has shown that consumers’ telecommunication spending hit N5.30 trillion in 2023.

The recent figure is a 37.54 percent increase from the N3.86 trillion recorded in 2022.

According to NCC, the increase in spending was fuelled by a spike in data consumption, which translated to higher revenues for telecom operators including mobile network operators, fixed wired, internet service providers, and other telecom services.

“The total volume of data consumed by subscribers increased to 713,200.62TB as of December 2023 from 518,381.78TB as of December 2022. This represents an increase of 37.58 percent in data consumption within the period. The increased data consumption is indicative of the increasing appetite and use for data by consumers,” the NCC said.

This increase in data consumption coincides with only a margin increase in voice calls, with total outgoing calls hitting 205.29 billion minutes, a 0.59 percent increase from the 204.09 billion minutes recorded in 2022.

The total number of active subscriptions increased from 222.57 million in 2022 to 224.71 million, attributed to subscriber loyalty, promos, aggressive consumer acquisition drive, and competitive product offerings across all the networks.

NCC stated that internet subscribers increased from 154.85 million in 2022 to 163.84 million in 2023, and broadband penetration declined from 47.36 percent to 43.71 percent.

This growth in internet consumption has continued into 2024, thanks to increased streaming services and smartphone penetration.

It would be recalled that Karl Toriola, chief executive officer of MTN Nigeria, recently noted that telecom companies are set to benefit from increased demand for data services, which has become the primary driver of telecom revenue.

Between January and September 2024, MTN Nigeria and Airtel Nigeria reported combined data revenues of N1.63 trillion, up from N254.32 billion in the same period of 2019. Over this time, voice revenues—once the primary income source for telcos—grew by only 70.74 percent to N1.44 trillion.

Data usage per user has grown, with MTNN reporting that its average data usage per user rose to 11.3GB in September 2024 from 7.8GB in March 2023.

For Airtel Nigeria, monthly usage increased from 2.8GB in March 2021 to 8.1GB in September 2024.

“We are positioning ourselves to capture the opportunities of growth for the next 10 years. The demand for data in Nigeria is exceptional and will continue to grow,” Toriola stated.

National Information Technology Development Agency (NITDA) has been mandated by President Bola Tinubu to lead the implementation of the Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT) and Counter-Proliferation Financing (CPF) Data Management Platform project.

The project is aimed at removing Nigeria from the Financial Action Task Force (FATF) Grey List by 2025.

Nigeria was included in the FATF Grey List in February 2023.

NITDA is expected to build better systems to manage financial data and compliance in Nigeria in collaboration with the Nigerian Financial Intelligence Unit (NFIU).

Nigeria’s goal is to be taken off the Financial Action Task Force’s (FATF) Grey List by 2025.

During the project implementation’s first meeting, Malam Kashifu Inuwa, director-general, NITDA stated that the project will rectify the shortcomings noted in Nigeria’s Mutual Evaluation Report (MER).

According to Inuwa, FATF put Nigeria on the grey list due to seven problems, including the country’s incapacity to stop arms financing, growing cash inflows, and inadequacies in fighting money laundering.

“We had shortcomings in combating terrorism financing, anti-money laundering regime, counter-terrorism financing regime, and deficiency in our counter-proliferation financing regime.

“The main objective of building a better system is to help us with global compliance; to help Nigeria position itself as a key player in the global effort to combat financial terrorism and other crimes.

“This will help us to create visibility in Nigeria, as well as improve our global reputation and relationship in the financial market,” he said.

He claimed that by strengthening law enforcement, the economy, and investment, the project will enhance national security by enabling the tracking of illicit financial flows and the disruption of financial sector criminal networks.

Inuwa underlined Tinubu’s dedication to using innovation and technology to fight financial crime and corruption.

Nigeria deserves to be at the forefront of cutting-edge technologies, according to Rep. Stanley Adedeji, chairman of the House of Representatives Committee on ICT and Cybersecurity, who emphasised the importance of technology.

Adedeji promised that the National Assembly would see to it that projects received the money they were due.

“We are going to make sure that the right funding is put in place for this project without any doubt.

“We are also going to make sure that if there are any laws today that are going to impede or be a stumbling block to what this project stands to achieve, we have to go and amend those laws.

“If there are things that require executive orders so that we can quickly move forward, we will do whatever needs to be done,” he said.

Hajiya Hafsat Bakari, director-general, NFIU, called for more collaboration among stakeholders to sustain the gains of exiting the grey list.

According to Bakari, the grey list is not just a one-off project but a continuous project.

“The next cycle of evaluation will be done in 2027, and we do not want a situation where, after exiting the grey list, we still find ourselves in the next evaluation.

“This is why we have decided that the use of technology will give credibility to every statistic that we have, not just to our domestic stakeholders but also to our international partners.

“Everything should be done in real-time—accessible, credible, and factual; that is the project that we are doing today,” she said.

The United States Supreme Court has upheld a law seeking to ban TikTok in the United States.

The court ruled that the law does not infringe upon free speech rights, citing the US government’s legitimate national security concerns about the Chinese ownership of the app.

Last week, the Supreme Court listened to the arguments from ByteDance, TikTok’s parent company, claiming the law violated free speech.

“There is no doubt that TikTok provides a unique platform for expression, engagement, and community to over 170 million Americans,” the justices stated.

With this decision, the ban set for Sunday remains in place, despite calls from lawmakers and officials across the political spectrum for a delay.

Last year, Congress passed a law requiring ByteDance to sell TikTok or shut it down in the US by January 19, reflecting widespread concerns in Washington that the app could be exploited by China for espionage or propaganda.

On Friday, White House officials informed the media that the ban would not be enforced, leaving the final decision to President-elect Donald Trump, who assumes office the next day.

In December 2024, TikTok asked the US Supreme Court to temporarily block a law that would force its Chinese owner to sell the popular video-sharing platform or shut it down by January 19.

The appeal came the same day TikTok, Shou Zi Chew, CEO, met with US President-elect Donald Trump.