Nigeria's fourth-largest telecom operator, 9mobile, has witnessed a dramatic decline in its market share, plummeting to a historic low of 1.99%, according to data from the Nigerian Communication Commission (NCC). This significant drop is attributed to the company's stagnant subscriber base, which has remained flat at 3.2 million subscribers for two consecutive months.

In contrast, other major telecom operators in Nigeria have experienced growth in their subscriber bases. Market leader MTN Nigeria has increased its share to 51% with 84.6 million subscribers, up from 81.2 million in November. Airtel has also seen growth, reaching 56.6 million subscribers in December, up from 55.4 million in November. Globacom, which faced a sharp drop in subscribers earlier in 2024 due to a regulatory audit, has managed to grow its subscriber base from 19.6 million to 20.1 million by the end of the year.

The decline of 9mobile's market share is a stark contrast to its performance in 2015, when the company, then known as Etisalat Nigeria, boasted 23.4 million subscribers and a market share of around 15.7%. The company's struggles have raised concerns about its declining performance, particularly since its acquisition by Light House Telecom in July 2024 for an estimated $750 million.

Despite the change in ownership, 9mobile has yet to receive the necessary capital injection to revamp its operations. The company has appointed a new chief executive and chief operating officer, and has made changes to its department heads in December 2024. However, industry insiders stress that without significant investment, the company will struggle to modernize its network infrastructure, improve customer acquisition efforts, and remain competitive in the market.

A telecom executive, who chose to remain anonymous, expressed concerns about the lack of capital investment in 9mobile, stating, "The funding is still not clear. The new buyer has not done anything, no new deployment, they haven't done any maintenance. They may start putting in money now that the tariffs have increased." The executive's comments highlight the uncertainty surrounding 9mobile's future, particularly as its competitors continue to invest in expanding their services.

The stagnant subscriber base of 9mobile reflects the broader challenges facing the company, including network maintenance and customer retention. Without the necessary funding, the company risks falling further behind its competitors, who are aggressively investing in their operations to stay ahead in the market.

The decline of 9mobile's market share serves as a warning to the company's new owners, highlighting the need for urgent investment to revamp its operations and regain its footing in the Nigerian telecom market. As the company struggles to stay afloat, its competitors are poised to capitalize on its weaknesses, further solidifying their positions in the market.