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Nigeria: Telecoms add 12.45% to the country's GDP

Nigeria: Telecoms add 12.45% to the country's GDP

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The Nigerian Communications Commissions (NCC) yesterday said the telecommunications sector contributed 12.45per cent to Nigeria’s Gross Domestic Product (GDP).

The commission through its Chief Executive Officer (CEO), Prof Umar Garba Danbatta during his convocation lecture, titled, “Empowering the Nigeria Youth Through Information and Communications Technology (ICT)” held at Fountain University, Osogbo, made this known.

Prof Garba disclosed that the ICT sector has been consistently contributing above 10% of Nigeria’s GDP for over 10 years.

He noted, “Nigeria is Africa’s largest ICT market with 82per cent of the continent’s telecoms subscribers and 29per cent of internet usage.

“As of fourth quarter of 2020, the telecoms sector alone contributed 12.45% to Gross Domestic Product (GDP) of Nigeria.”

He added that Sub-Saharan Africa is also projected to have an additional subscriber enrolment of over 167 million and Nigeria is expected to account for over 55per cent.

“NCC has put in-place various ICT youth empowerment initiatives to aid in creating a digitally skilled workforce that will fit into the Digital Economy Project of Nigeria.

“We are committed to fostering partnership and collaboration with the Technology Hubs and Start-ups, to accelerate innovations and the creation of a digitally skilled workforce for industrial growth and sustainable development of the nation,”he said.

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