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My ministry has contributed N2tn GDP, $1.73bn FDI, Shittu boasts

Internet access revenue dominates Nigeria’s entertainment & media earnings- experts

The outgoing Minister of Communications, Adebayo Shittu has said that the Nigerian telecoms sector contributed a Gross Domestic Product (GDP) of N2 trillion to the nation’s economy under his watch.

This was disclosed on Monday at a valedictory press conference in Abuja.

According to Shittu, this represents 9.5 per cent of the nation’s GDP.

While reeling out his achievements, Shittu added that Foreign Direct Investment (FDI) stood at $1.73 billion.

He further revealed that the sector under his watch, has achieved 14 per cent increase in teledensity, rising from 108 per cent in 2015 to 123 per cent in 2018.

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On mobile penetration, he said the rate has moved up from 83 per cent to 84 per cent. The minister also disclosed that the nation now boasts of 53 per cent, against 45 per cent recorded in 2015 through the robust regulation and leadership he provided in the sector.

Also speaking, the Executive Vice Chairman of Nigeria Communication Commission (NCC), Prof. Umar Danbatta, said the commission has succeeded in compelling MTN’s listing into the Nigerian Stock Exchange, NSE through its focused and firm regulation.

“We have succeeded in empowering Nigerians to own, control and manage one of the dominant telecommunication companies in the country by MTN listing in the Nigerian Stock Exchange (NSE)’’.

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com