TELECOMMUNICATIONS CONTRIBUTION TO NIGERIA’S GDP HITS 10%

Nigeria’s Telecommunications sector’s contribution to GDP have hit 10%.

Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof. Umar Danbatta, said contribution of Nigeria’s telecommunications sector to Gross Domestic Product (GDP) has hit 10 per cent. While speaking to journalist in Lagos, he said National Bureau of Statistics figures for 2017, shows a contribution of N1.45 trillion to the GDP for 1st Quarter and  N1.549 trillion for 2nd quarter.

Danbatta, also added that this performance at a period of recession is very remarkable. According to him, telecommunications have made significant impacts in transforming the Nigerian economy.

Trends also show that Investments in the sector, in human and material resources, have continued to soar. In 2001, the telecom sector could boast of only US$50 million worth of investments. Statistics as at September 2017, shows investments valued at US$70 billion. Also Value Added Services (VAS), in Nigeria today is worth US$200 million and will grow to US$500 million by 2021.

The Telecom industry have also provided both direct and indirect employment opportunities, accentuated growth and expansion.

In a related development, Danbatta, in Geneva, Switzerland, at a dinner organized for the ITU Secretary-General, Houlin Zhao, formally presented Nigeria’s candidature for a re-election into the International Telecommunication Union (ITU) Administrative Council and William Ijeh’s bid for the position of Director, Telecommunication Development Bureau of the ITU.

The dinner was also attended by other elected officials of the global telecom regulatory body, ministers and chief regulators of member states from across the globe, among other dignitaries.

Nigeria is one of the highest financial contributors to ITU in the African region.  It is also a major player in ITU Telecom World activities.

Nigeria have shown committment to the development of telecommunication and Information and Communications Technology (ICT) as well making them readily available to all its citizen at affordable rates.