Telecom sector contributes N2.508tn to Nigeria’s GDP
The telecommunications and Data Companies and products sector in Nigeria has, within the major quarter of 2023, delivered a dazzling N2.508 trillion in phrases of monetary ticket contribution to the nation’s sinful domestic product (GDP), representing 14.13 per cent.
Figures launched by the Nationwide Bureau of Statistics (NBS) confirmed that the field recorded a 4.3 per cent construct greater from its performance within the last quarter of 2022 when it recorded 13.55 per cent.
When put next on a year-on-year basis, the expansion confirmed a favorable progression from 12.94 per cent within the major quarter of 2022, to the 2023 settle of 14.13, which is an approximate development of 9.19 percent.
The percentage of telecom contribution to GDP changed into calculated from 46 sure sectors of the economy, which portray telecom and files services baskets.
The Nigerian telecom commerce has persevered its present of sure outlook which is credited to the modern and predictable telecom regulatory atmosphere promoted, and conducted by the Nigerian Communications Fee, NCC.
One in every of the major highlights of the telecom commerce performance internal the period changed into the generation of $820.8 million for the federal executive from 5G spectrum licences charges paid by three eventual winning operators, MTN, MAFAB and Airtel.
Following the issuance of the licences in December 2021 to MTN and MAFAB, both corporations comprise launched 5G services. Airtel, which obtained its licence in December 2022, is determined to begin services this month, June 2023.
One other major construction within the field changed into the initiating of Starlinks broadband provider, a satellite-essentially based wireless broadband services with capability nationwide coverage.
This followed the issuance of a licence to Elon Musk-owned SpaceX by the Fee. The services are in actuality on hand in assorted system of the country.
Meanwhile, the expansion statistics of the telecom commerce are showing a dauntless fable of contributions to the economy.
The will of cell phone subscribers as of April 2023, stood at 223.6 million subscribers, scoring a teledensity of 117 percent.
Web subscribers for the identical period comprise been 157 million, while Broadband subscriptions stood at 92 million, translating to 48 per cent broadband penetration within the country.
