9Mobile has faced significant challenges since Etisalat Abu Dhabi exited the Nigerian market in 2017 over a $1.2 billion loan crisis.
The telecom company has struggled with poor network reception due to a lack of investment, leading to a decline in its subscriber base from 16.96 million in December 2017 to 11.66 million in January 2024.
In 2023, there were rumors that MTN was interested in acquiring 9Mobile’s operating spectrum, but MTN clarified it was only exploring national roaming opportunities. 9Mobile’s new owner, LH Telecommunication LTD, has appointed a new board of directors and plans to inject fresh capital into the company.
The board, chaired by Thomas Etuh, includes several notable members and has appointed Obafemi Banigbe as the new CEO.
Analysts believe 9Mobile’s revitalization will intensify competition in the telecom industry, where MTN, Airtel, and Glo have been the dominant players. The new leadership and potential investments aim to improve 9Mobile’s network and regain market share.