Telecom investments in Nigeria hit $77bn – NCC
By Ibidunni Banjoko
The Executive Vice-Chairman of 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 disclosed this at a media conference at the weekend, revealed that the sector had contributed 16 percent to the nation’s Gross Domestic Product (GDP) within the period under review.
He added that the statistics by the NCC were based on the computation by the Nigeria Bureau of Statistics (NBS).
“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.
According to him, telephone users in Nigeria had hit 218.9 million, internet subscribers 159.5 million, while broadband users in the country have risen to 88.7 million within the period under review.
Danbatta listed issues of right of way, fiber cuts, the high capital requirement for deployment, multiple taxations,and regulations, among other frustrations, constituting barriers to broadband deployment in the country.
The EVC, however, assured that the NCC would “navigate regulatory complexities, digital divide, and literacy to tackle the challenges.”
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