Abuja, Nigeria – Foreign Direct Investment (FDI) into Nigeria’s telecommunications sector rebounded sharply in the third quarter of 2025, reaching $208.51 million, according to the latest capital importation data from the National Bureau of Statistics.
Okay News reports that the figure marks a dramatic increase from $14.74 million recorded in Q3 2024, representing more than a fourteenfold year-on-year jump. The surge signals renewed investor interest after a weak performance in the corresponding period last year.
Earlier in 2025, telecom inflows stood at $80.78 million in Q1 before rising to $103.63 million in Q2. By contrast, 2024 began on a stronger footing but weakened significantly, dropping from $191.57 million in Q1 to just $14.74 million by Q3. The sharp recovery in Q3 2025 therefore marks a reversal of the slump seen a year earlier.
On a cumulative basis, the telecom sector attracted $392.92 million between January and September 2025, surpassing the $319.72 million recorded in the same period of 2024. This represents an increase of approximately 23 percent, suggesting overall foreign investment momentum improved despite quarterly fluctuations.
The uptick may reflect renewed confidence following regulatory adjustments, exchange rate reforms, and rising demand for data services. In January 2025, the Nigerian Communications Commission approved a 50 percent tariff adjustment for telecom operators, citing rising operational costs. According to the Association of Telecommunications Companies of Nigeria, the adjustment spurred operators to reinvest additional revenue into enhancing network quality and expanding digital access.
However, the rebound comes amid concern that Nigeria is not attracting sufficient long-term capital for large-scale telecom infrastructure. The country missed its 70 percent broadband penetration target in December 2025, largely due to inadequate fibre rollout, high right of way charges, power constraints, and slow private investment. Industry stakeholders warn that achieving nationwide high-speed connectivity will require billions of dollars in sustained foreign investment, particularly for rural coverage, 5G expansion, and backbone infrastructure.
 into Nigeria's telecommunications sector rebounded sharply in the third quarter of 2025, reaching $208.51 million, according to the latest capital importation data from the National Bureau of Statistics.){kind=link}