Nigeria’s Telecom industry contributes N2.508trn to GDP
The telecommunications and Information Services sector in Nigeria has in the first quarter of 2023, contributed N2.508 Trillion to the nation’s gross domestic product, GDP, representing 14.13%.
Figures released by the National Bureau of Statistics, NBS, showed that the sector recorded a 4.3% increase from its performance in the last quarter of 2022 when it recorded 13.55%.
When compared on a year-on-year basis, the growth showed positive progression from 12.94% in the first quarter of 2022 , to the 2023 figure of 14.13, which is an approximate growth by 9.19%.
The percentage of telecom contribution to GDP was calculated from 46 distinct sectors of the economy, which constitute telecom and information services baskets.
In a statement signed by Reuben Muoka,
Director, Public Affairs of the National Communications Commission, the NCC said the Nigerian telecom industry has continued its show of positive outlook, which is credited to innovative and predictable telecom regulatory environment promoted, and implemented by the Commission.
“One of the key highlights of the telecom industry performance within the period was the generation of $820.8 Million for the federal government from 5G Spectrum licenses fees paid by three eventual winning operators, MTN, MAFAB and Airtel,” Muoka said.
He added: “Following the issuance of the licenses in December 2021 to MTN and MAFAB, both companies have launched 5G services. Airtel which received its license in December 2022, is set to launch services this month, June 2023.
Another major development in the sector was the launch of Starlinks broadband services, a satellite based wireless broadband services with potential nationwide coverage. This followed the issuance of license to Elon Musk-owned by SpaceX by the Nigerian Communications Commission. The services are now available in different parts of the country.”
Meanwhile, the number of phone subscribers as at April 2023, stood at 223.6 Million subscribers scoring a teledensity of 117%, the NCC said.
Internet subscribers for the same period were 157 Million while Broadband subscriptions stood at 92 Million, translating to 48% broadband penetration in the country.
