Journalism in the service of society

Telecom sector contributes N2.508 trillion to Nigeria’s GDP – NCC

THE Nigerian telecoms and information services sector has contributed N2.508 trillion in financial value to the country’s gross domestic product (GDP) in the first quarter of 2023, accounting for 14.13 percent of the total.

The Director, Public Affairs, Nigerian Communications Commission (NCC), Reuben Muoka, stated in a statement that the figures released by the National Bureau of Statistics (NBS) showed that the sector increased by 4.3 percent from 13.55 percent in the fourth quarter of 2022.

“When compared on a year-on-year basis, the growth showed a positive progression from 12.94 per cent in the first quarter of 2022 , to the 2023 figure of 14.13, which is an approximate growth of 9.19 per cent.

“The percentage of telecom contribution to GDP was calculated from 46 distinct sectors of the economy, which constitute telecom and information services baskets.

“The Nigerian telecom industry has continued its show of positive outlook, which is credited to the innovative and predictable telecom regulatory environment promoted, and implemented by the Nigerian Communications Commission (NCC),” he stated.

One of the significant highlights of the telecom industry’s success during the period, according to Muoka, was the generation of $820.8 million for the federal government from 5G spectrum licensing fees paid by three eventual winning operators, MTN, MAFAB, and Airtel.

According to him, MTN and MAFAB have both deployed 5G services since receiving licenses in December 2021. Airtel, which acquired its license in December 2022, plans to begin operations this month, in June 2023.

He also mentioned the debut of Starlinks broadband services, which are satellite-based wireless broadband services with potential statewide coverage.

This followed the issuance of licence to Elon Musk-owned SpaceX by the Commission. The services are now available in different parts of the country.

“Meanwhile, the growth statistics of the telecom industry are showing an impressive record of contributions to the economy. The number of phone subscribers as at April 2023, stood at 223.6 million subscribers, scoring a teledensity of 117 per cent. Internet subscribers for the same period were 157 million while Broadband subscriptions stood at 92 Million, translating to 48 per cent. broadband penetration in the country,” Muoka stated.

Comments are closed.

Naija Times