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Fewer Nigerians are Using Mobile Subscriptions Now than there were a Few Months Ago

According to data on the latest industry statistics released by the Nigerian Communications Commission, in May 2023, there were 220.93 million mobile subscribers, down from the 225.88 million mobile subscribers registered in January 2023. There are a few reasons why people might have canceled their mobile phone plans. In 2020 and 2021, the Federal Government made it a requirement for people to link their SIM cards to their National Identification Numbers. This affected the mobile industry and caused a steep decline in mobile subscriptions. Another reason people might have canceled their mobile phone plans is because of inflation. According to the National Bureau of Statistics, Nigeria’s headline inflation rate accelerated for the fifth consecutive time to 22.41 percent in May. This is when MTN Nigeria announced that it was planning to increase prices in selected markets- which included Nigeria- due to the elevated inflation in the operating environment, subscribers took to social media to express concern that the services currently being provided by the telecom operator had become exorbitant, and it was becoming more difficult to keep pace with the high costs.