After investing over $120 million in its 5G network, MTN Nigeria has emerged as the leader in the West and Central African (WCA) region, boasting the fastest download and upload speeds, according to the latest Ookla Speedtest Intelligence data. In Q2 2024, the telco's download speed rose to 95.62 megabits per second (Mbps), while its upload speed reached 17.01 Mbps, its highest so far.

This development is great news for MTN Nigeria's 2.6 million 5G subscribers who require high-speed internet. The telco's dominance in the region will also make it a more attractive option for potential subscribers. MTN Nigeria holds a 50% share of the country's telecom market.

MTN Nigeria leads other subsidiaries within the MTN Group, including MTN Ghana, MTN Benin, MTN Côte d'Ivoire, and MTN Cameroon in download and upload speeds. The telco also surpasses competitors such as Airtel, which has a median download speed of 30.35 Mbps and upload speed of 10.28 Mbps, the highest for 4G networks as of 2022.

The telco launched its 5G network in September 2022, initially covering seven major cities—Lagos, Abuja, Port Harcourt, Ibadan, Kano, Owerri, and Maiduguri. The network expanded significantly within a year, with MTN Nigeria extending 5G coverage to 11% of the population, backed by an infrastructure investment of over $120 million. MTN Nigeria has deployed over 2,100 5G sites nationwide since its launch.

"The impact of 5G has so far been limited to Nigeria as it is still in its early stages in most of the region. MTN is keen to expand 5G coverage to the rest of its footprint, following the examples of Nigeria and Côte d'Ivoire, while continuing to invest in its 4G network infrastructure," Karim Yaici, lead industry analyst at Ookla, said.

MTN Nigeria did not immediately respond to requests for comments.

According to Ookla Speedtest Intelligence, 5G penetration in Nigeria grew from 17.2% in Q1 2023 to 35.70% in Q2 2024, surpassing South Africa's 31.6%. While MTN Nigeria and Airtel have commercially launched 5G services, MTN leads with the most extensive network coverage. ISP Mafab Communication, which secured a 5G license in December 2021, is yet to roll out its service.

As of September 2024, Nigeria had 3.3 million 5G subscribers, representing 2.19% of the country's 154.9 million active mobile subscribers, according to the Nigerian Communications Commission (NCC). MTN dominates the 5G market with 2.6 million subscribers, accounting for approximately 79% of 5G users in the country.

The development is a significant milestone for MTN Nigeria, solidifying its position as a leader in the West and Central African region. As the telco continues to expand its 5G coverage and invest in its network infrastructure, it is likely to attract more subscribers and drive growth in the region's telecommunications sector.