Financial figures from Telecommunication companies, MTN and Airtel has revealed that data is on the brink of overtaking voice revenue.
According to Nairametrics, If the current trends continue, a quick glance at the financial statements of both companies indicates that data will surpass voice within the next two quarters.
MTN reported N200.9 billion in data revenue for the most recent quarter, compared to N209.3 billion in voice revenue.
Additionally, Airtel reported $221 million in data revenue as opposed to $253 million in voice revenue.
Based on the available figures, data is formally reducing the gap and it is expected that it will surpass voice as the top revenue source for telcos sooner rather than later.
The scale of cheaper smartphones in the country has resulted in remarkable data growth over the last five years.
Social media apps like WhatsApp, Instagram, TikTok, and YouTube have also increased the need for Nigerians to consume massive amounts of data.
According to data from NCC, more data was consumed in December 2021 than in the year ended in December 2020.
The total amount of data consumed by subscribers increased by 68.2% over the course of the period, from 209,917.40TB in December 2020 to 353,118.89TB in December 2021.