Alton: NBS Data Underestimates Telecom Investment

By Progress Godfrey

ABUJA — The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has contended that the National Bureau of Statistics (NBS) Capital Importation Report for the first quarter of 2026 does not fully capture the extent of investment in the telecommunications sector.

In a statement signed by ALTON Chairman Gbenga Adebayo and Publicity Secretary Damian Udeh, the association argued that official figures indicating a drop in foreign capital inflows into the sector overlook substantial investments financed through domestic sources and reinvested earnings.

ALTON noted that the NBS report recorded telecom sector capital importation at $7.24 million in the first quarter of 2026, compared with $80.78 million during the corresponding period in 2025.

The association highlighted that the sector has continued to attract significant investment despite the reported decline in foreign capital inflows.

It stated that telecommunications operators are projecting capital expenditure of about N1.86 trillion in 2026 to expand network infrastructure and improve service coverage.

ALTON added that industry players, including mobile network operators and tower companies, recorded combined capital expenditure of about N2.13 trillion in 2025 through various financing arrangements.

The association maintained that current reporting methods may not adequately capture investments funded through local financing mechanisms and retained earnings.

According to the group, this creates a gap between reported foreign capital inflows and the actual level of infrastructure investment taking place within the sector.

To address the issue, ALTON called for closer collaboration among the Nigerian Communications Commission (NCC), the National Bureau of Statistics (NBS) and the Central Bank of Nigeria (CBN) to develop a framework that captures both domestic and foreign investments in telecommunications.

The association said a more comprehensive reporting system would provide a clearer picture of investment trends in the sector, support policymaking and strengthen investor confidence.

ALTON also assured subscribers that operators would continue investing in network expansion and modernisation while working with regulators to support digital growth and financial inclusion.

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