With a growing population currently sitting at 160 million, Nigeria’s telecommunication market (which has continued to remain the top priority for investors in the telecoms market) is estimated to be sitting at 106 million active lines with an installed capacity of over 189 million lines. This is the largest telecoms market in Africa. According to a report published by Pyramid Research, a leading global telecom intelligence company, the combined revenues in the telecom sector in 2010 from billing Nigerians for using their service was estimated at N1.34 trillion ($8.6 billion). These results reflect the rising status of telecoms sector as the third largest contributor to the nation’s gross domestic product (GDP) in the non-oil sector
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- What Nigeria’s Bank Customers Want: An Assessment of Retail and SME Banking Preferences (2015)