FiberOne targets 1m subscribers in five years

Nigerian internet provider FiberOne aims to double its subscriber base to one million within five years, despite facing significant challenges in the country's fragmented telecommunications market. CEO Lanre Ore revealed the ambitious growth target in an interview with PENRESA, emphasizing the growing demand for high-speed connectivity and the potential for innovation in Africa's most populous nation.

FiberOne currently serves over 40,000 subscribers, but the company plans to expand its fibre footprint across Nigeria, targeting 15 states and underserved areas. The company's expansion could lead to a 20-fold increase in its customer base, intensifying pressure to deploy more fibre network and increase network capacity. However, FiberOne's growth ambitions may be constrained by the high costs associated with building and maintaining networks, as well as competition from other providers like Starlink, MTN, and Airtel.

Despite these challenges, FiberOne remains committed to maintaining affordable rates while expanding its network into new neighbourhoods and cities, keeping prices competitive, and ensuring service reliability.