Telecoms Sector Contributed N2.5tn To GDP In First Quarter Of 2023 - National Bureau Of Statistics

According to statistics released on Thursday, June 8, by the National Bureau of Statistics (NBS), the telecommunications and Information Services sector contributed N2.508 trillion to the nation’s Gross Domestic Product (GDP), in the first quarter of 2023.

The contribution represented 14.13 per cent of the GDP.

The statistics show 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.

Compared on a year-on-year basis, the NBS data growth showed a positive progression from 12.94 per cent in the first quarter of 2022 , to 14.13 per cent in 2023, which is an approximate growth by 9.19 per cent.

The percentage of telecom contribution to GDP was calculated from 46 distinct sectors of the economy, which constitute telecom and information services baskets.

The Nigerian Communications Commission (NCC), in a statement it released on Thursday, signed by its Director of Public Affairs, Mr. Reuben Muoka, stated that the Nigerian telecom industry has continued its positive outlook, due to the innovative and predictable telecom regulatory environment implemented by the NCC.

According to the statement, one of the key highlights of the telecom industry performance within the period was the generation of $820.8 million for the federal government from 5G spectrum licences fees paid by three eventual winning operators, MTN Nigeria, Mafab Communications and Airtel Nigeria

“Following the issuance of the licences in December 2021 to MTN and MAFAB, both companies have launched 5G services. Airtel, which received its licence in December 2022, is set to launch services this month, June 2023.

“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. The services are now available in different parts of the country,” the statement said.