5G raises telecoms GDP contribution to N2.51trn — NCC

The telecommunications and information services sector contributed N2.51trn, representing 14.13%, in terms of financial value contribution to the country’s gross domestic product in Nigeria in the first quarter of 2023.

The Nigerian Communications Commission disclosed this in a statement on Thursday, adding that 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 licences fees paid by three eventual winning operators, MTN, MAFAB, and Airtel,”  the NCC said.

According to the Nigerian Communications Commission, figures released by the National Bureau of Statistics showed that the sector recorded a 4.3% increase from its performance in the last quarter of 2022, when it recorded 13.55%.

In another statement signed by Director, Public 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 said when compared on a year-on-year basis, the growth showed positive progression from 12.94% in the first quarter of 2022, an approximate growth of 9.19% year-on-year.

It added that the percentage of telecom contribution to GDP was calculated from 46 distinct sectors of the economy.

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