Telecoms industry boosts Nigeria’s GDP with N2.5tln
By Joseph Ekeng
Nigeria’s telecoms industry has reached new heights, with the number of mobile phone subscribers soaring to a staggering 223.8 million as of April 2023. This surge in mobile subscriptions has significantly contributed to the country’s economic growth, as the telecommunications and ICT services sector made a remarkable contribution of N2.508 trillion to Nigeria’s Gross Domestic Product (GDP) during the first quarter of 2023.
Mr. Reuben Muoka, the Director of Public Affairs at the Nigerian Communications Commission (NCC), recently released a statement unveiling these impressive figures. In addition to the mobile phone subscribers, the statement highlighted that the number of internet subscribers for the same period reached an impressive 157 million, while broadband subscriptions stood at 92 million.
The NCC, citing data released by the National Bureau of Statistics (NBS), revealed that the Telecommunications and ICT services sector made a substantial impact on Nigeria’s GDP. This remarkable contribution demonstrates the vital role that the telecoms industry plays in the nation’s economy, driving growth and fostering connectivity.
Among the notable developments in the sector, the NCC highlighted the deployment of 5G services by MTN and MAFAB, following the issuance of their licenses in December 2021. Airtel, which received its license in December 2022, is also preparing to launch its 5G service in June. This advancement in mobile technology will bring faster connectivity and improved user experiences to Nigerian consumers.
Furthermore, the NCC revealed another major breakthrough in the telecoms industry, namely the launch of Starlinks broadband services. This satellite-based wireless broadband service, with the potential for nationwide coverage, is now available in various parts of the country. The license for this service was issued to SpaceX, owned by the visionary entrepreneur Elon Musk, by the NCC.
Mr. Muoka emphasized the significant growth of the telecoms industry and its substantial contributions to the Nigerian economy. The number of phone subscribers alone reached a remarkable 223.6 million as of April 2023. These numbers highlight the increasing reliance of Nigerians on mobile communication and the vital role that the telecoms sector plays in connecting people across the country.
Moreover, with 157 million internet subscribers and 92 million broadband subscriptions during the same period, it is evident that Nigerians are embracing the digital age and benefiting from the wide array of online services and opportunities available to them.
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