Telecommunications infrastructure is driving a new wave of digital businesses in Nigeria, with entrepreneurs generating significant revenues without maintaining conventional physical offices. Financial analyst Tosin Olaseinde made this observation during an X Space discussion hosted by financial planner Kalu Aja on Sunday, 21 September 2026. She noted that the expansion of mobile connectivity and affordable access to data has fundamentally changed the way businesses can be established and operated in Nigeria.
Olaseinde, co-founder of Money Africa and the Ladda savings and investment app, cited examples of businesses generating between N10 million and N50 million in monthly revenue without physical offices. These businesses leverage social media platforms and mobile data to connect with customers, eliminating traditional costs associated with offices and physical outlets. She regularly comes across such businesses, highlighting the critical role of telecommunications infrastructure in their operations.
The growth of digital entrepreneurship is closely tied to reliable telecommunications infrastructure, Olaseinde said. She identified fintech, e-commerce, digital banking, remote work, and online education as sectors whose growth is increasingly dependent on connectivity. Financial technology companies, for instance, rely on connectivity to process transactions, while banks have shifted customer services to digital platforms.
The expansion of remote work has enabled Nigerian professionals to provide services to clients outside the country, Olaseinde noted. She cited the example of workers based in Lagos serving customers and companies in cities such as Nairobi, New York, and London through internet connectivity. Online education is another area where telecommunications infrastructure has widened the reach of Nigerian professionals, with the COVID-19 pandemic demonstrating the viability of online learning.
The discussion highlighted the growing contribution of telecommunications to Nigeria's economy, with the sector accounting for 9.19 per cent of Nigeria's gross domestic product in the first quarter of 2026. Olaseinde described this contribution as approaching the 10 per cent threshold, underscoring the increasing importance of telecommunications to economic activity beyond the traditional telecommunications industry.
Kalu Aja emphasized the scale of investment required to maintain the infrastructure supporting the digital economy, citing MTN's underlying infrastructure investment of about N1.62 trillion. He argued that the economic consequences of such infrastructure extend well beyond the services directly purchased by consumers, contributing to employment, tax revenues, and shareholder returns.
Olaseinde also noted that the influence of major corporations on the Nigerian economy goes beyond infrastructure and direct employment. Large companies can influence the standards adopted by smaller businesses through their interactions with customers and operations, citing customer service, digital communication, and professional standards as examples. Exposure to organised corporate systems can encourage entrepreneurs to demand similar standards from their own businesses as they grow.
Key points
- The growth of digital entrepreneurship in Nigeria is closely tied to reliable telecommunications infrastructure.
- The telecommunications sector accounted for 9.19 per cent of Nigeria's gross domestic product in the first quarter of 2026.
- Major corporations contribute to employment, tax revenues, and shareholder returns while supporting economic activities across their respective value chains.
