The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Professor Umar Garba Danbatta, has revealed that telecommunications investment in Nigeria has surged to $77 billion.
The NCC boss said the figure shows increament from the $38 billion figure when he assumed his role as the EVC of the commission in 2015.
Prof. Danbatta shared this information during a media interaction with stakeholders in the media industry over the weekend in Kano.
He proudly noted that the telecommunications industry, under his leadership, has flourished and currently contributes 16 percent to the nation’s Gross Domestic Product (GDP) out of the 20 percent attributed to the Information and Communication Technology (ICT) sector.
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According to him, “the largest sector that contributed more to the GDP is Agricultural sector with 23 per cent. The Information and Communication Technology, ICT is the next with almost 20 per cent but out of that Telecom contributes 16 per cent from a little over 8.5 per cent in 2015.
“Total investment when I assumed duty, it was between $30 to $38 billion. According to figures received, this figure has now risen to $77 billion.
“This figure on contribution of the GDP was released by National Bureau of Statistics, NBS at the end of Q2 (second quarter), 2023,” he stated.
Prof. Danbatta maintained that the commission has recorded remarkable milestones which he simply puts at 119 out of which he said it achieved 71 under the Strategic Vision Plan, SPV 1 and 48 others under the SPV 2.
He said the milestones were achieved despite challenges faced by the Telecom industry namely, right of way (RoW), fibre cuts, high capital requirement for deployment, multiple taxations and regulations, among other frustrations constituted barriers to broadband deployment in the country.
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The NCC Boss however unveiled seven points agenda or targets as its future plans which include, promoting digital inclusion, fostering innovation, ensuring consumer protection, improving efficient spectrum management, cyber security and resilience, regulatory flexibility and stakeholders engagement.
Earlier in his welcome address, the Commission’s Director of Public Affairs, Mr. Reuben Mouka said the Commission’s leadership is media friendly and considers the media as a partner to help make the stakeholders understand happenings in and around the industry.