Telecoms sector contributes N1.5tn to Nigeria’s GDP, says NCC

Mast [Photo: techislet.com]

The Nigerian Communications Commission (NCC) says the telecommunications sector contributed N1.54 trillion to the country’s Gross Domestic Product (GDP) in the second quarter of 2017.

NCC’s Executive Vice-Chairman, Umar Dambatta, disclosed this while receiving the visiting Chairperson of Liberia Telecommunications Authority (LTA), Madam Angelique Weeks.

Mr. Dambatta, a professor, said that the figure was derived from recently released Bureau of Statistics’ report on the economy.

The News Agency of Nigeria (NAN) reports that the National Bureau of Statistics (NBS) in its second quarter Gross Domestic Product GDP report had on August 29 announced Nigeria’s exit from recession after it slumped early 2016.

He said the figure showed that the telecommunications sector contributed 9.5 per cent to the GDP in the second quarter of the year.

According to him, the figure represents a 6.68 per cent increase from the first quarter’s contribution of N1.45 trillion.

Okowa Campaign AD

“We are very proud of the remarkable contributions the sector is making,” Mr. Dambatta said in a statement.

“Even in the recent times when the whole economy was facing challenges, the sector has remained resilient and stable.”

On data usage, Mr. Dambatta noted a remarkable increase in the usage of data by Nigerians at a monthly usage of about 40 million terabytes.

He said the country would undergo a massive ICT transformation by the time the excess data capacity at landing point in Lagos was deployed to the hinterland through licensing of Infrastructure Companies (InfraCos).

According to him, broadband penetration in the country is currently at 21 per cent with Nigeria inching toward 30 per cent penetration in 2018 in line with the national broadband target.

Mr. Dambatta said that the commission had approved spectrum trading as part of the components of the government’s 8-Point Agenda.

He said the trading would maximise the benefits of spectrum to ensure that no acquired spectrum was left un-utilised.

(NAN)

Support PREMIUM TIMES' journalism of integrity and credibility

 

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: This space is available for a Text_Ad.. Call Willie on +2347088095401 for more information


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.