The Nigerian telecommunication and information services sectors have remained the enablers of growth, with N2.3 trilion or 14 per cent Gross Domestic Product, GDP, contribution in the second quarter of 2020 despite the economic impact of the global coronavirus pandemic.
According to The Guardian, the sectors’s contribution to the GDP translates to N2.272 trillion, up from N1.821 trillion in the first quarter of 2020.
The newspaper cited the figures made public by the National Bureau of Statistics (NBS), which shows an increase of 31.43 per cent
The 14.30 per cent contributed by the telecoms sub-sector alone was far above oil and gas and other non-oil sectors, while the entire ICT industry recorded 17.83 per cent in the second quarter.
It is on record that in 2015 the telecoms’ sub-sector contribution to the Gross Domestic Product stood at eight percent and has grown significantly quarter-on-quarter and year-on-year to reach the current milestone.
For this reason, stakeholders in the industry have attributed this milestone achievement which represents a leap from the 10.88 per cent in first quarter of the year to the Nigerian Communication Commission, NCC’s sound regulatory environment.
The NCC regulatory framework has been commended by the stakeholders, such as the Association of Telecoms Companies of Nigeria, (ATCON), Association of Licensed Telecoms Operators (ALTON), and the National Association of Telecoms Subscribers (NATCOMS), according to The Guardian
Mr. Gbenga Adebayo, the Chairman of ALTON Chairman, commended all industry players for their resilience and consistency of purpose.
According to Adebayo, this achievements would have not been possible if not for factors such as the investor-friendly policy and regulatory environment which the leadership of the NCC has made available.
He also thanked all stakeholders for their commitment, consistent investment in network maintenance and expansion, and sacrifice by sector operators.
He pointed out that to sustain this growth, Nigeria should continue to invest in network expansion and maintenance operations, access to foreign exchange to procure network critical equipment, consistency in policy and policy environment.
The ALTON Chairman noted that there should be access to spectrum and friendly policies around its allocation, assignment and cooperation between the stakeholders.