The telecommunications and Information Services Sector in Nigeria has in the first quarter of 2023, delivered N2.508 trillion in terms of financial value contribution to the nation’s gross domestic product (GDP), representing 14.13 per cent.
A statement signed by the Director Public Affairs, Nigeria Communications Commission (NCC) Reuben Muoka, notes that data from the National Bureau of Statistics (NBS) 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.
When compared on a year-on-year basis, the growth showed positive progression from 12.94 per cent in the first quarter of 2022, to the 2023 figure of 14.13, which is an approximate growth by 9.19 per cent.
One of the key highlights of the telecom industry performance within the period according to the report was the generation of $820.8 Million for the federal government from the 5G spectrum licence fees paid by three eventual winning operators following the issuance of the licences.
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 licence to Elon Musk-owned SpaceX by the Commission.
Meanwhile, the growth statistics of the telecom industry are showing an impressive record of contributions to the economy.
The number of phone subscribers as at April 2023, stood at 223.6 million subscribers, scoring a teledensity of 117 per cent.
Internet subscribers for the same period were 157 million while Broadband subscriptions stood at 92 Million, translating to 48 per cent.
