NCC: Telecoms sector soars in GDP controbution - ITREALMS

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Nigerian Telecommunications industry has continueb to soar in contributions to the nations Gross Domestic Product (GDP) in efforts at growing the socio-economic growth of the country, reports ITREALMS.

The Executive Vice Chairman (EVC/CEO) Nigerian Communications Commission (NCC) Prof. Umar Garba Danbatta made this known at the second edition of Nigerian Telecommunications Indigenous Content Expo (NTICE) held at the Landmark Center, Victoria Island, Lagos with the theme: “Harnessing Indigenous Content for Economic Growth; Networking to boost Investments."

Prof. Danbatta, who was represented by the Executive Commissioner, Technical Service, Engr Ubale Ahmed Maska, said the Nigerian Telecoms Sector is amongst the biggest contributors to socio-economic growth of the country, as evidenced by the numerous achievements of the sector.

He stressed that is not out of place to mention that the sector’s performance was instrumental to lifting Nigeria out of recession with 12.45% contribution to the GDP in Q4 2020. This figure increased to 14.13% as at Q1 2023.

The NCC boss reiterates that the sector is also home to two most valuable listed companies in Nigeria with a collective market capitalization in excess of N10.45 trillion.

The EVC enjoined all to embrace indigenous content and value creations within the telecoms value chain, in order to sustain and improve quality of service cum quality of experience in telecommunications.

Prof. Dambatta further listed some of the Commission's achievement, citing its policy on the ban on importation of SIM cards which was announced at the maiden NTICE event last year.

This ban, he said, has not only eased the burden on demand for foreign exchange but has given a boost to businesses in excess of N55bn for the local SIM cards manufacturers in Nigeria, which in turn has created direct and indirect jobs for the teeming population.

"The Commission has also incentivized the manufacturing of Corrugated Optical Duct (COD) that will be used to protect the fibre infrastructure from the incessant cuts experienced by service providers.

The Commission is equally committed to continuously supporting Micro, Small and Medium Enterprises (MSMEs) and Innovators to promote our talented young persons and ventures though Angel Investments, R&D support, exposure to Investors and sponsorship to local and international tech events among others" he said.

ITREALMS recalled that the Commission in 2021 and 2022, generated revenue in excess of USD$820m from the auction and grant of 3.5GHz Spectrum band licences to three operators which boosts the deployment of Fifth Generation (5G) services in the country.

This, he said, placed Nigeria on the global 5G map ahead of many countries in Europe, Africa and the Middle East.

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