Telecoms industry contributed 10.88% to Nigeria’s GDP Q1, says NCC
The Nigerian Communications Commission (NCC), has said that the industry contributed 10.88 per cent to Nigeria’s Gross Domestic Product (GDP) in the first quarter of 2020.
According to the apex regulator of the telecommunication industry, the 10.88% contribution remains the second highest by the telecoms sector to the GDP.
It is higher than the 10.60% that the telecommunication sector contributed to the GDP in the fourth quarter of 2019 but lower than the contribution of the sector to the GDP in the second quarter of 2019.
According to the data, the telecoms sector contributed 11.39% to Nigeria’s GDP in the second quarter of 2019, the highest so far but analysis of the statistics showed a steady growth in percentage contribution of the sector to the GDP since year 2012, when the commission started computing its GDP contribution to the Nigerian economy.
The Commission is responsible for creating an enabling environment for competition among operators in the industry as well as ensuring the provision of qualitative and efficient telecommunications services throughout the country.
Over the years, NCC has earned a reputation as a foremost Telecom regulatory agency in Africa.
The Commission is hoping to catalyze the use of ICT’S for various aspects of national development.
The Commission has initiated several programmes such as State Accelerated Broadband Initiative (SABI) and Wire Nigeria Project (WIN) to help stimulate demand and accelerate the uptake of ICT tools and services necessary for the enthronement of a knowledge society in Nigeria.
To also achieve its mandate, the Commission has put in place the necessary licensing and regulatory framework for the supply of telecommunications services.