Telecoms investment rose by $39bn in Q2 2023 – NCC

The Executive Vice-Chairman of the Nigeria Communications Commission (NCC), Prof. Umar Danbatta, said on Saturday that investment inflow into the country’s telecommunication sector rose by $39 billion in the second quarter of this year.

Danbatta, who spoke at a media parley, said investments in the sector rose from $38 billion to $77 billion during the period.

He added that the sector had contributed 16 percent to the nation’s Gross Domestic Product (GDP) during the period.

The figure, according to the NCC chief, was based on the computation by the Nigeria Bureau of Statistics (NBS).

He said: “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.”

READ ALSO: Buhari exempts telecoms sector from 5% excise duty

Danbatta, however, attributed the success to sustained regulatory activities and operational efficiency by the commission.

He stressed that the industry has grown in leaps and bounds over the past two decades.

The NCC chief added: “We have witnessed explosive growth, improved regulatory standards, and digital innovation that generated global recognition.

“Telephone users in Nigeria had hit 218.9 million, internet subscribers 159.5 million, while broadband users in the country now are 88.7 million within the period under review.”

Danbatta listed issues of Right of Way (RoW), fibre cuts, the high capital requirement for deployment, multiple taxations, and regulations, among other frustrations, constituting barriers to broadband deployment in the country.

He assured that the NCC would navigate regulatory complexities, digital divide, and literacy to tackle the challenges.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now