The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has reiterated how the telecom industry’s contributions prevented the Nigerian economy from receding after its modest recovery after the Covid-19 pandemic in 2020.
The industry regulator spoke on the increasing contributions of the telecoms industry to the nation’s Gross Domestic Product (GDP) over the past few years at the second edition of the just concluded Nigerian Telecommunications Indigenous Content EXPO (NTICE 2023) and the commitment of the NCC to sustaining the trend.
The event with the theme “Harnessing Indigenous Content for Economic Growth; Networking to Boost Investment”, featured an innovators pitching programme called NTICE SELECT, which was designed by the Commission to build on the maiden edition of the NTICE.
Danbatta said at the event that the telecom sector’s performance was instrumental in lifting Nigeria out of recession with a 12.45% contribution to the GDP in Q4 2020.
According to him, the sector’s contribution increased to 14.13% as of Q1 2023, thereby making it among the sector’s with the biggest contributors to the socio-economic growth of the country.
Danbatta said the Sector had two of the most valuable listed companies in Nigeria with a collective market capitalization in excess of N10.45 trillion.
This is even as he 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 to boost the deployment of Fifth Generation (5G) services in Nigeria.
The EVC added that Nigeria was placed on the global 5G map ahead of many countries in Europe, Africa and the Middle East, while noting that while quality of service and quality of experience in telecommunications services in Nigeria have continued to improve, tariffs have remained stable notwithstanding the increase in cost-of-service provision to the telecom operators.
Danbatta maintained that the NTICE was one of the achievements of NCC through NODITS as it has served not only to promote Pillar number 5 (Strategic Partnering) of the Strategic Management Plan (SMP) 2020- 2024 of the Commission but has also become the flagship indigenous content event for the industry.
He said: “By showcasing indigenous innovations and providing opportunities for young entrepreneurs, we are not only nurturing our local talents but also encouraging a culture of entrepreneurship and creativity that will propel Nigeria onto the global stage of technological leadership.”
The event is not only an exhibition but it is also a gathering of industry players that embodies the spirit of innovation, resilience, collaboration, and progress.
In addition, it created an opportunity to celebrate and showcase Nigeria’s achievements in the world of telecommunications, technology, as well as indigenous content creation and adoption.
