The Nigerian Communications Commission NCC has acknowledged the immense contribution of the 5G network of the telecommunications and information services to the country’s gross domestic product.
The Nigerian Communications Commission disclosed this in a statement on Thursday.
According to the NCC, the telecommunications and information services sector contributed N2.51tn, representing 14.13 per cent, in terms of financial value contribution to the country’s gross domestic product in Nigeria in the first quarter of 2023.
It said one of the key drivers of the industry’s performance in the period was 5G.
“One of the key highlights of the telecom industry performance within the period was the generation of $820.8m for the Federal Government from 5G spectrum licenses fees paid by three eventual winning operators, MTN, MAFAB, and Airtel,” the NCC stated.
According to the Nigerian Communications Commission, figures released by the National Bureau of Statistics showed that the sector recorded a 4.3 per cent increase from its performance in the last quarter of 2022, when it recorded 13.55 per cent.
It said when compared on a year-on-year basis, the growth showed positive progression from 12.94 p percent the first quarter of 2022, to an approximate growth of 9.19 p percent. It added that the percentage of telecom contribution to GDP was calculated from 46 distinct sectors of the economy.
A statement signed by Director, Pubof lic Affairs, NCC, Reuben Muoka, said, “The Nigerian telecom industry has continued its show of positive outlook, which is credited to the innovative and predictable telecom regulatory environment promoted, and implemented by the NCC.”
It noted, “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 liclicense Elon Musk-owned SpaceX by the Commission. The services are now available in different parts of the country.”
“Meanwhile, the growth statistics of the telecom industry are showing an impressive record of contributions to the economy. The number of phone subscribers as of April 2023, stood at 223.6 million subscribers, scoring a teledensity of 117 perpercentnternet subscribers for the same period 157 million while Broadband subscriptions stood at 92 Million, translating to 48 perpercentoadband penetration in the country.”