Telecommunication operators in Nigeria and other parts of Africa are expected to inject over $76 billion as capital expenditure (CapEx) into their various networks in five years.

GSMA said this projection is for between 2025 and 2030. It, however, said that for the investment to translate into improved coverage, quality and capacity, there is a need for an improved regulatory and cost environment.

According to the telecom body, markets that have reduced rights-of-way costs, enabled infrastructure sharing and provided regulatory predictability are seeing faster and broader capital deployment.

Infrastructure-sharing models in particular are emerging as a structural solution for extending coverage into areas where individual operator economics alone cannot justify the investment, it said.

MTN Nigeria’s quarterly CapEx this year has been extremely aggressive, starting with N390.3 billion in Q1 and reaching N620.5 billion by H1, while Airtel Africa invested $389 million in Q1 2026 alone, its highest first quarter rollout.

Both operators are front loading investments to expand 4G/5G coverage and fibre infrastructure.
For FY 2025, MTN Nigeria’s CapEx surged to N1 trillion, more than doubling from N443.5 billion in FY 2024. This was driven by aggressive investment in broadband coverage and spectrum leasing.

CapEx intensity stood at 19.3 per cent of revenue, reflecting heavy reinvestment into infrastructure.

Airtel Africa CapEx rose to $884 million in FY 2026, a 31.9 per cent increase year-on-year. The company rolled out over 3,250 new sites and expanded fibre by 3,200 km, with plans to accelerate spending to $1.1 billion in FY 2027.

Both operators are scaling aggressively to meet surging data demand and smartphone penetration.

MTN’s investment intensity is higher relative to revenue, while Airtel is focusing on pan-African expansion with Nigeria as a key growth driver.

For FY 2026, Airtel reported 47.5 per cent constant currency revenue growth in Nigeria, showing strong returns on its infrastructure push.

Airtel Africa is balancing pan African expansion with Nigeria as a key growth driver. Its CapEx is more diversified across regions but still heavily weighted toward network densification.