, Umar Danbatta, has said the investment profile in the nation’s telecommunications sector now stands at 75.6 billion as of 2021.This is contained in a statement issued by NCC and signed by its Director of Public Affairs, Reuben Mouka.
“At the end of 2021, the figure rose to $75,560,563,417.79 . The latest figure is the current official investment profile computed in the industry up from the initial $70 billion investment in the last few years,” Mr Danbatta said. He added that through the effective regulatory environment by NCC, “the telecom sector has recorded tremendous growth from an initial investment profile of $500 million in 2001, when the sector was fully liberalised.”
“The growth trajectory continued this year as telecommunications and Information Services sector in Nigeria delivered a handsome N2.508 trillion in terms of financial value contribution to the nation’s gross domestic product, GDP, representing 14.13% in the first quarter 2023.” “Also, in the second quarter of 2020, it added 14.30 per cent to GDP; 14.42 per cent in the second quarter of 2021. The highest quarterly contribution to GDP by the sector to the economy was 15 per cent in the second quarter of 2022.”The regulatory agency said the telecoms sector has become a significant enabler of economic development in Nigeria, saying it continues to impact all the facets of the Nigerian economy positively.
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