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Telecoms investments in Nigeria grow to $77b from $38b –Danbatta

The Executive Vice-Chairman, Nigerian Communications Commission, Prof. Umar Danbatta has said that telecoms investment inflow grew from $38 billion to $77 billion by the second quarter of 2023

Danbatta, who made the disclosure at a media chat with stakeholders in the media industry in Kano on Saturday, revealed that the sector had contributed 16 percent to the nation’s Gross Domestic Product within the period under review.

He said that the statistics by the NCC was based on the computation by the Nigeria Bureau of Statistics.

“From about eight percent contribution to GDP in 2015, when I came on board as the EVC of NCC, quarterly GDP has increased significantly to reach its current threshold of 16 percent.

“And this has continued to positively impact all aspects of the economy,” he said.

The NCC boss, however, attributed the success to “thorough sustained regulatory excellence and operational efficiency by the commission”, adding that the industry has grown in leaps and bounds over the past two decades.

“We have witnessed explosive growth, improved regulatory standards, and digital innovation that have generated global recognition,” he said.

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