Telecom Sector Drives Nigeria’s GDP to New Record High
The telecommunications sector in Nigeria has contributed a record 16% to the country’s Gross Domestic Product (GDP) in the second quarter of 2023, according to the Nigerian Communications Commission (NCC).
NCC Executive Vice Chairman Professor Umar Danbatta announced this at the Annual Telecom Executives and Regulators Forum held in Lagos. Danbatta said the 16% contribution in Q2 2023 surpasses the previous high of 15% achieved in Q2 2022 and 14.13% in Q1 2023.
Since Danbatta took charge of NCC in 2015, the telecom industry’s GDP contribution has grown significantly from 8%. He credited this growth to sustained regulatory excellence and operational efficiency at the Commission.
Danbatta also noted barriers like right of way issues, taxes and regulations but said NCC is working to address them through collaboration. On connectivity, he said initiatives have reduced access gaps across Nigeria.
Looking ahead, the NCC aims to attain 50% broadband penetration by year-end and exceed the 70% target in the National Broadband Plan by 2025. Danbatta commended stakeholders’ support in realising Nigeria’s digital economy goals.
The elevated telecom sector contribution underscores its growing importance to Nigeria’s economy and progress towards a digital future.
