9mobile’s Market Share Hits Record Low—Can It Bounce Back?

9mobile, once a major player in Nigeria’s telecom industry, is facing a steep decline. The company’s market share has dropped to 1.9%, marking its lowest point in history, according to data from the Nigerian Communication Commission (NCC). With 3.2 million subscribers, its numbers have remained unchanged for two consecutive months, while competitors continue to grow.

A Struggling Telecom Giant

In 2015, when it operated as Etisalat Nigeria, 9mobile had an impressive 15.7% market share and 23.4 million subscribers. Fast forward to December 2024, and the company is struggling to stay relevant. Meanwhile, MTN Nigeria has solidified its dominance, increasing its subscriber base to 84.6 million, securing 51% of the market. Airtel has also expanded, reaching 56.6 million subscribers, while Globacom rebounded to 20.1 million subscribers after an earlier decline.

9mobile is now the only major telecom provider in Nigeria that failed to gain new customers in 2024, sparking concerns about its ability to remain competitive.

Ownership Changes but No Capital Injection

A potential turning point came in July 2024, when Light House Telecom acquired a 95% stake in 9mobile for $750 million. Since the takeover, a new chief executive officer and chief operating officer have been appointed, and key department heads were reshuffled in December. However, the expected capital injection to revitalise the company is yet to materialise.

“The funding is still not clear. The new buyer has not done anything, no new deployment, they haven’t done any maintenance. They may start putting in money now that the tariffs have increased,” a telecom executive revealed.

The Road Ahead

With a lack of fresh investments, 9mobile is struggling to upgrade its network infrastructure, attract new customers, and remain competitive on pricing. Industry experts believe that without urgent funding, it will be difficult for the company to turn things around.

As competitors continue expanding and strengthening their services, 9mobile risks falling even further behind. Whether its new owners can inject the necessary resources to revive the brand remains the big question.