Telecom
Mastercard’s 2025 Economic Projections: A New Chapter for Nigeria

Mastercard Economics Institute released ‘Economic Outlook 2025’, its annual report identifying the themes that will shape next year’s economic landscape. The global economy has managed through a series of shocks admirably over the past few years. The report anticipates 2025 to be defined by shifts in monetary and fiscal policy and a move toward equilibrium rates for growth and inflation.

In Nigeria, the GDP in 2025 is projected to grow by 2.9% year over year, slightly below than the global average which is forecast at 3.2.%, reflecting the challenges and opportunities within one of Africa’s largest economies. Meanwhile, consumer spending in the country is predicted to rise by 6%, despite elevated consumer price inflation of 22.1%, which continues to present challenges for households and businesses.
Economic growth is driven by robust remittance inflows, which sustain household incomes and consumption. Nigeria’s economy demonstrates resilience amid global and regional shifts, leveraging its human capital and remittance ecosystem to navigate challenges.
“Nigeria’s economic outlook for 2025 highlights the country’s resilience and potential for growth, driven by remittance inflows and consumer spending. These trends underscore the importance of fostering financial inclusion and addressing inflationary pressures to support sustainable development,” said Khatija Haque, chief economist, EEMEA, Mastercard.
Folasade Femi-Lawal, Country Manager and Area Business Head for West Africa shared, “Remittances play a pivotal role in driving economic resilience, and Mastercard Nigeria is committed to enhancing contactless payment solutions to simplify transactions, boost security, and reduce costs. Our efforts are aimed at fostering an inclusive financial ecosystem, ensuring seamless, secure payments that support Nigeria’s vibrant economy.”
Key findings from the report include:
Pricing priorities
Consumers worldwide have been navigating a bumpy road of rising prices over the last five years, largely driven by the pandemic and geopolitical tensions. Inflation—the rate of increase in prices—remains a significant challenge for Nigeria, even as consumer price inflation is forecast to moderate to 22.1% in 2025 from over 33% in 2024. This reflects persistent pressures from currency volatility and supply chain disruptions.
Despite these challenges, Nigeria’s consumer spending is projected to grow by 6%, driven by the country’s youthful population and robust informal economy. However, high inflation continues to influence purchasing behavior, with households prioritizing essential goods and services over discretionary spending.
Migration and money
The last few years saw significant movement in people and, by extension, capital. While migration results in a loss of human capital, it also generates substantial remittances, which serve as a lifeline for low- and middle-income communities in developing economies. According to the World Bank, global remittances surged from $128 billion in 2000 to $857 billion in 2023, with an estimated growth of 3% in 2024 and 2025. Economic recovery and local reforms are expected to sustain remittance growth through 2025, while the continued digitization of the payments industry allows recipients to shift to digital and mobile channels, resulting in considerable cost efficiencies, security and convenience. In Nigeria, migration continues to shape the country’s economic landscape, contributing significantly to remittance inflows.
The rise of digital payments and mobile money solutions has further enhanced the efficiency and accessibility of remittances, reducing costs and ensuring secure, timely transactions. These platforms are vital for Nigeria’s financial inclusion efforts, enabling underserved communities to access financial services and participate in the broader economy.
The ‘Economic Outlook 2025’ report draws on a multitude of public and proprietary data sets, including aggregated and anonymized Mastercard sales activity, as well as models that are intended to estimate economic activity.
Telecom
NCC Insists on Compensation to Subscribers for Poor Quality of Service After Telcos Facility Tour

Dr. Aminu Maida, executive vice chairman, Nigerian Communications Commission -NCC has insisted that telecommunications operators must compensate subscriber for poor quality of service after a facility tour of major telecommunications operators in Lagos yesterday.

The team comprises of Chief Idris Olorunnimbe is the Chairman of the Governing Board of the Nigerian Communications Commission (NCC), EVC, Engr. Gbenga Adebayo, chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON) and other stakeholders visited MTN Nigeria, Globacom and Airtel Nigeria.
Earlier this week, the commission directed Mobile Network Operators (MNOs) to provide compensation to subscribers whose network quality of service experience is below specified targets within certain locations.
In a statement signed by the NCC Head, Public Affairs Department, Nnenna Ukoha, on Sunday, the commission noted that its position is that subscribers should not be made to bear the full burden of service disruptions where operators fail to meet prescribed standards of service delivery.
According to the EVC, “we are in a situation where Nigerians are yearning for better service, but better service requires infrastructure. We are not where we want to be or where we need to be, but from what I’ve seen today, I am reassured that the operators are continuing to invest. I urge Nigerians to be a little bit patient while these investments are made so that we can address the infrastructure deficit that is required to improve service for Nigerians.
I wasn’t expecting that a tour like this would change that directive. We looked at it and we said the fairest thing to do was for subscribers to be compensated. This is not to say that the operators have not tried. Service has improved. The data shows that our demand is also increasing at a rate faster than the infrastructure is being built. So Nigerians have to be a little bit more patient. From what I’ve seen today and all the work that has been done, I’m confident that that gap will be close shortly.
Chief Idris Olorunnimbe is the Chairman of the Governing Board of the Nigerian Communications Commission (NCC), said: “From what we have seen, and what has been done. We have been told in detail what is to come. And I mean, just like the EVC said, all we need is a bit more patience, better service, deeper penetration is assured based on everything that we’ve seen, and everything was that and everything we have heard. It’s also important to state that and commend our operators. The infrastructure that we’ve seen is comparable with any infrastructure from any telco anywhere in the world, and Nigeria is not behind, and based on what we’ve also seen in terms of their plans for expansion, Nigeria will always be able to compete with any other country in the world.
Drop calls are not deliberate. They are caused by a few things. One of it is fiber cut and attacks or vandalization of towers and infrastructure. So it has reduced. We have seen they’ve shown us data today that shows you a significant reduction. It will continue to reduce. We as the critical national infrastructure program deepens and we’re also about to introduce an accountability framework for when fiber is damaged. So if you damage it, you must fix it. So that way we think that people will be more responsible with their construction and stuff like that that breaches this infrastructure. So there’s no sabotage. There will never be so for as long as we can keep those incidents to the barest minimum drop, calls would also reduce. But let me also point out that when calls drop, the networks also lose so it’s not in their interest for your calls to drop or for you to experience frustration when you use the service, because the more reliable it is, the longer you spend on it, the longer you spend on it, the more money they’re able to make. So they are also doing their best in terms of ensuring that these incidents are reduced to the barest minimum so and as a consumer as well, I look forward to an Easter weekend with minimal disruptions to my call.
Telecom
NITDA Urges Joint Action to Drive Nigeria’s Digital Innovation

Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), has underscored the importance of collaboration between government institutions and emerging startups as a catalyst for Nigeria’s digital transformation and national development.

Speaking at the Nigerian Satellite Week 2026 in Abuja, themed “Harnessing Space Technology for an Extraordinary Nigeria,” Inuwa urged stakeholders to embrace partnerships as a pathway to innovation and impact.
“Take a good step, and you can make a difference,” he said, emphasizing the need to translate ideas into tangible outcomes through collective effort.
The NITDA boss, represented by the Director of Stakeholder Management and Partnerships, Aristotle Onumo, during his presentation on “Enhancing collaboration between government agencies and emerging start-ups”, outlined four guiding principles for driving transformation: enabling the ecosystem rather than controlling it; prioritising networks over institutions; developing talent while supporting innovation and adopting practical solutions; and focusing on platforms rather than isolated projects.
To illustrate the power of digital innovation, Inuwa shared the story of a rural farmer whose productivity challenges ranging from unstable rents to failed loans were overcome through access to digital tools and networks. He explained that such incremental interventions can scale into broader economic gains, ultimately contributing to national infrastructure like satellite systems.
“This is the power of space technology, and it shows why events like this are so important,” he noted.
Highlighting the evolving role of space technology, Inuwa observed that startups are increasingly driving innovation across telecommunications, navigation, security, and cloud services. Once dominated by global superpowers, the sector is now emerging as a key economic driver, with Nigeria’s “Sunrise Packet” projected to contribute over $1.5 billion to the economy by 2030.
“Innovation without adoption is wasted,” he added, stressing the critical role of government in enabling start-ups to scale through supportive policies, infrastructure, and incentives.
According to him, developmental regulation should focus on creating markets, orchestrating ecosystems, and delivering public value rather than stifling innovation. He pointed to several initiatives supporting the growth of Nigeria’s innovation ecosystem, including the Digital Start-Up Act, Idea Hatch, and the National Digital Leadership Programme, all designed to empower young innovators and connect them to global opportunities.
He further highlighted platforms such as GITEX Africa, GITEX Nigeria, and Digital Nigeria, which provide visibility for start-ups and attract investment, partnerships, and mentorship.
Inuwa concluded with a strong call for collaboration among government, start-ups, non-governmental organisations, and investors, describing Nigeria’s youth as the country’s greatest asset.
“If we are going to create a digital Nigeria, we must collaborate,” he said.
Also speaking at the event, the Minister of Communications, Innovation and Digital Economy, Tijani, described Nigeria’s satellite infrastructure as central to the nation’s digital future.
“Nigeria is the only West African country with its own satellite. NigComSat provides critical connectivity and resilience, benefiting not just Nigeria but the entire region,” he said.
Tijani disclosed that President Bola Ahmed Tinubu has approved the acquisition of NigComSat-2A and NigComSat-2B, a move expected to significantly enhance the country’s space capabilities.
He stressed, however, that infrastructure alone is not sufficient.
“What truly matters is how we leverage this technology to improve agriculture, education, security, and business operations,” he said.
The Minister also highlighted key government investments, including a ₦12 billion digital economy research cluster fund under Project Bridge, which will support academics and researchers nationwide. He added that Nigeria is expanding its digital backbone through 90,000 kilometres of fibre optic cables, nearly 4,000 telecom towers in underserved communities, and new satellite deployments to strengthen regional connectivity across countries such as Cameroon, Niger, Chad, Burkina Faso, and the Republic of Benin.
“The talent, ideas, and energy are all here in Nigeria. It is up to us to turn them into real outcomes for our people and the economy,” Tijani added.
The Nigerian Satellite Week continues to provide a strategic platform for collaboration among government, start-ups, academia, and the private sector, fostering innovation and reinforcing Nigeria’s leadership in Africa’s digital and space economy.
Welcoming participants, the Managing Director of Nigerian Communications Satellite Limited (NIGCOMSAT), Jane Nkechi Egerton-Ideyen, said Nigeria’s space programme is entering a new phase marked by deliberate and focused growth.
She pointed to strengthened institutional capacity, expanding partnerships, and clear economic gains, noting that the agency’s revenue grew from less than $650 million in 2023 to over $2 billion in 2025. She attributed this surge to key reforms, new commercial deals, and increasing demand for satellite broadband services across the African continent.
Egerton-Ideyen also disclosed that Nigeria has launched seven space assets in just over two decades, adding that the country is shifting its focus from prestige-driven initiatives to practical outcomes—enhancing connectivity, improving livelihoods, and promoting inclusive development.
She further revealed that more than 500 young Nigerians received training in satellite technology within the past year, while over 50 startups have benefited from NIGCOMSAT’s accelerator programme.
Telecom
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