Business
Telecoms sector contributes N1.6trn to GDP in 2nd quarter
The Nigerian Communications Commission (NCC) Thursday revealed that the telecommunications sector contributed N1.6 trillion to Nigeria’s Gross Domestic Product (GDP) in the second quarter of the year.
This disclosure was made by the Executive Vice Chairman of the NCC, Prof. Umar Danbatta, who made the statement when he visited the Minister of the Federal Capital Territory Administration, Mr. Mohammed Bello, in Abuja.
The NCC boss also revealed that telecommunications and Information Technology had been contributing about 10 per cent to the country’s GDP annually.
While noting that the country’s recorded Internet users numbered 92 million as of the end of June, Danbatta predicted that broadband penetration would hit 30 per cent by the end of 2018, further increasing the number of Internet users.
He added that telecommunications had attracted more than $68bn in private sector investment since 2001, but however stated that some challenges were still confronting the sector and preventing its development.
Read also: FG’s bond auction flops on the back of investor retreat
Among other issues, Danbatta listed disruptive effects of construction companies; increase in fees for building permits; delay in approval permits for the installation of base stations; lack of collocation guidelines as well as retroactive laws in the Federal Capital Territory, as notable challenges.
In his response, the FCT minister said he would work with the regulatory body to address the challenges.
He said, “Part of our job is to ease business and increase investment in the city and the country at large. We will support you in ensuring there is always increase in broadband penetration across the country.”
RipplesNigeria… without borders, without fears
Click here to join the Ripples Nigeria WhatsApp group for latest updates.
Join the conversation
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.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...