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.
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ICT has really taken over because presently technology in Nigeria is the secondwith gross GDP of 70billion dollars which has helped with the increase in jobs directly and indirectly.
It is really nice that Information Communication Technology is also generating revenue for us. We can still do better about it. If we invest more, it will continue to increase our GDP. We need to smartly take control of the ICT system, it will help us in this technology era.
Since the advent of ICT to the country,lots of things has change because ICT brings jobs, contribute tangible amount of money to the federal government through tax and also make information very accessible to the general populace.
Broadband internet is now an essential part of everyone’s professional and private lives in the country
There has not been anything quite like the phenomenal growth seen in the telecom business across every market segment.
Broadband internet is now an essential part of everyone’s professional and private lives in the country.
Nigeria is the second highest contributor of ICT in the world. This means that we are really growing in times of technology. Very cool and nice
Despite these growth indices in the telecom sector, which were the result of the successful implementation of a number of telecommunication policies and strategies, the chairman noted that the industry was constantly working to further improve and redefine its operational and professional activities with intense effectiveness and efficiency.
As a result of this meteoric rise, Nigeria’s ICT industry has been increasingly well-funded, which has helped it to become more effective.
Over the course of recent years, Nigeria’s Information and Communication Technology industry has experienced tremendous expansion.
The field of communication had expanded at a breakneck pace to become an essential factor in the overall growth of the economy of the country.
it is excellent that the number of people who pay for access to the internet has gone from zero to a lot who pay for broadband.
Due to its explosive expansion, the industry is now home to a thriving investor community and a robust investment profile. Therefore, the industry has generated a large number of jobs for Nigerians, both directly and indirectly.
Under this direction, the Commission’s administration acknowledged the print, broadcast, and online media as key stakeholders for their efforts to report regularly on developments in the telecommunications business.
Access to high-speed internet and the internet, in general, have become an essential component of both the professional and personal lives of every citizen in the nation.
ICT is really generating revenue for us if we keep investing and managing it well it will go and benefit more for us because technology is life now technology is important in the world now
It’s great that we’re making money off of ICT, and it’s even better that we have room to grow in this area. The more we put in, the more our GDP will grow.
Impressive statistics were being observed in the sector, pointing to governmental decisions and their influence on the growth of Nigeria’s digital revolution, which was shaped by a positive multiplier effect on other sectors that support the company’s economy.
Many things have changed since the introduction of ICT to the nation; for example, the number of people employed, the amount of money paid in taxes, and the ease with which the public may obtain information.
Truly and without dispute the ICT in Nigeria has greatly impacted our economy and contributed 15% to our GDP with an investment of $70bn in the Information Communication Technology Industry
Nigerian has contributed massively in ICT to become the second highest. GDP. The investment of in Information Technology and information has hit $70bn.