, Mr Umar Garba Danbatta has officially announced that the investment profile in the nation’s telecommunications sector, comprising foreign direct investment and local investment, has reached $75.6 billion as of 2021.
Investment in the telecommunications sector in Nigeria is computed from two sources: the Central Bank of Nigeria , and the financial data obtained from service providers by the Commission. Similarly, Danbatta said the telecom sector has continued to be a major contributor to Nigeria’s economy through an impressive sectoral contribution to the nation’s Gross Domestic Product quarterly, up from about 8.5 per cent in third quarter of 2015, contributing N10.126 trillion to the nation’s GDP in 2022 alone., Danbatta said the telecoms sector contributed N10.126 trillion as an aggregate quarterly contribution to the nation’s GDP in 2022.
Telecoms contribution to national GDP has grown significantly since assumption of Danbatta as the EVC of NCC in August, 2015, according to available data from NBS. Overall, Danbatta said the sector has become a major enabler of economic development in Nigeria, as it continues to positively impact all the facets of the Nigerian economy. “As the regulatory authority for the telecom sector in Nigeria, we are happy that the sector has recorded phenomenal growth statistics in the past two decades of the liberalization of the telecoms sector. However, we will not rest on our oars.