The telecommunications sector’s share of the nation’s Gross Domestic Product (GDP) surged to 16% in the second quarter of 2023, as reported by the Nigerian Communications Commission (NCC) and calculated by the Nigeria Bureau of Statistics (NBS).
Prof. Umar Danbatta, the Executive Vice Chairman of NCC, announced this during his keynote address at the annual Telecom Executives and Regulators Forum (TERF), hosted by the Association of Telecom Companies of Nigeria (ATCON) in Lagos.
He pointed out that this increase marked a significant rise from the 14.13% contribution in the first quarter of 2023 and the previous all-time-high record of 15% in the second quarter of 2022.
This achievement reflects the telecommunications sector’s remarkable growth, which, since 2015 when Danbatta assumed the role of EVC at NCC with an 8% GDP contribution, has consistently climbed to its current 16%, positively influencing all sectors of the economy.
“Through sustained regulatory excellence and operational efficiency by the Commission, the industry has grown in leaps and bounds over the past two decades and this has impacted on all other sectors of the economy. The effective regulatory regime employed by the NCC and with the support from all stakeholders has been our major success factor as an industry,” Danbatta said.
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