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Nigeria’s ICT, second highest GDP contributor

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By Timothy Akintola

Investment in the Information Communication Technology Industry now over $70bn.

The Information Communication Technology sector in Nigeria has undergone immense growth overtime. As a result, there has been increased investment which has further improved the efficiency of the sector. Recent reports suggest that the investment of the country’s ICT sector have surpassed $70 billion. This was made known by the Executive Vice Chairman of the Nigerian Communication Commission (NCC), Professor Umar Dambatta. He disclosed this information whilst delivering his keynote address at the 2nd International Conference of Associations of Media and Communications Researchers of Nigeria which took place on the 1st and 2nd of December.

Prof. Dambatta indicated that with ICT’s 18.94% contribution to Nigeria’s Gross Domestic Product (GDP), the communication sector had grown rapidly to become a central contributor of the country’s economic development. He also noted that the active communication subscribers had witnessed a significant growth from an aggregate 400,000 lines in the year 2000 to 212.2 million. This growth, he stated was a representation of 111% tele density. He again disclosed that there had been an increase in the basic internet subscriptions which grew from a zero ground to 152.7 million and currently a broadband subscription which was at 86 million, which indicated a 45.09% penetration as of July 2022.

NBS reports that Telecom sector contributed 15% to Nigeria’s GDP.

According to the National Bureau of Statistics, the telecommunication sector alone contributed 15% to Nigeria’s GDP in the second quarter of 2022. The Vice Chairman of NCC pointed that ICT was only second to Agriculture as the largest economic contributor. With under $500 million worth of investment in this sector in 2001, the sector has grown immensely, attracting numerous investors and now boasting of an investment profile of over $70 billion. As a result, numerous direct and indirect jobs have been created by the sector for Nigerians.

Chairman noted that in spite of these growth indices in the Telecom sector which were a product of the effective implementation of a variety of telecommunication policies and strategies, the telecom sector was continually working to further improve and redefine its operational and professional activities with intense effectiveness and efficiency. He also noted that the access to broadband and internet was now a poignant aspect of the official and personal lives of every individual in the country.

The tremendous growth of the telecom industry not unprecedented.

In the keynote speech titled, The Influence of Communication Policies on Digital Revolution in Nigeria, Prof. Dambatta explained that the management of the commission, under his leadership, had importantly recognized both the print, broadcast and online media as important stakeholders who have worked towards constantly reporting the developments witnessed in the telecommunication industry. He regarded professors and scholars of the mass communication field as founders and significant members of the Association of Media and Communication Researchers.

He said that the tremendous development of the telecom sector across all market segment was not unprecedented. According to him, the industry was witnessing impressive statistics which pointed to the governmental decisions and its impact on the development of Nigeria’s digital revolution, shaped by a positive multiplier effect on other industries that make up the company’s economy. He disclosed that the NCA, the central regulatory instrument for the telecommunications industry was being considered for a review.

NDEPS, a central policy for controlling Nigeria’s digital revolution.

Emphasized was the National Digital Economy Policy and Strategy (NDEPS) 2020-2030 as the central policy controlling the digital revolution in Nigeria. The NDEPS, as well as other policy documents and strategies developed by the NCC was said to have facilitated the implementation of the commission’s goals. Other policies like the Nigerian National Broadband Plan (NNBP) 2020-2025, The National Policy on 5G Networks for Nigeria’s Digital Economy and the present Strategic Management Plan 2020-2024 had all been very important in the development of the telecom industry.

Related Link

NCC: Website

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