This study examined the relationship between tangible and intangible assets and the profitability of telecommunication firms in Nigeria. The study used secondary data from the telecommunication firms' annual reports from 2012 to 2020, and employed Eviews 12 for the multiple regression analysis. The results showed that tangible assets has a strong positive effect on Return on Assets (ROA), whereas intangible assets has a negative and insignificant effect on Return on Equity (ROE). On the other hand, tangible assets has a negative and significant link with ROE, but intangible assets has a positive effect on ROA. This study concludes that tangible assets are mostly used to boost ROA, but not as much for ROE, while intangible assets are better for growing ROE, but not effective for ROA. This study recommends investing more in tangible assets and reducing debt volume to increase ROA, and investing in sophisticated software to help ROE grow in the short run.