How NCC’s Contribution To GDP Lifted Nigeria Out Of Recession In 2020 – Danbatta
The telecoms sector under the supervision of the Nigerian Communications Commission (NCC), contributed 12.45 per cent to the Gross Domestic Product (GDP) in the 4th quarter of 2020.
This was as the Commission generated revenue in excess of USD820m for the country in 2021 and 2022 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 Executive Vice chairman of the NCC, Professor Umar Danbatta, who disclosed these at the second edition of the Nigerian Telecommunications Indigenous Content EXPO (NTICE 2023), which held in Lagos, said that the positive development contributed immensely in lifting Nigeria out of recession in 2020.
Danbatta further said that the NCC has continued to be a major player in the economy as the sector increased its contribution to the GDP to 14.13 per cent in the Q1 2023.
Speaking on the NTICE 2023 theme; “Harnessing Indigenous Content for Economic Growth; Networking to Boost Investment”, the NCC boss said that the telecoms sector is among the biggest contributors to the socio-economic growth of the country.
Commenting on the essence of the NTICE, the NCC chief Executive, said it is the only telecom event in the country solely focused on the promotion, development and adaptation of indigenous content.
In his words; “NTICE is not only an exhibition but it is also a gathering of industry players that embodies the spirit of innovation, resilience, collaboration, and progress.
“It presents a remarkable opportunity to celebrate and showcase Nigeria’s achievements in the world of telecommunications, technology, as well as indigenous content creation and adoption,” he enthused.
Danbatta also said the contribution of NCC to the national economy, as the regulator of the telecoms sector, was evidenced by the numerous achievements of the sector.
He said; “The sector is home to two of the most valuable listed companies in Nigeria with a collective market capitalisation in excess of 10.45 trillion. This placed Nigeria on the global 5G map ahead of many countries in Europe, Africa and the Middle East.
“The quality of service and quality of experience in telecommunications services in the country have continued to improve. Tariffs have remained stable, notwithstanding the increase in cost-of-service provision to the telecom operators.
“We must embrace indigenous content and value creation within the telecoms value chain. Otherwise, increase in telecoms tariff will be inevitable,” he said.
Danbatta however, said that some measures must be emplaced in order to sustain and further improve quality of service and quality of experience in telecommunications services, just as he restated the commitment of NCC to the drive of the Federal Government to place the Nigerian economy on a sustainable pedestal through all the necessary policies put in place.
Danbatta therefore called on stakeholders to recognise the transformative power of domestic innovation and the pivotal role it plays in shaping digital future of nations and their economies, adding that the NTICE 2023 is a declaration of Nigeria’s commitment to shaping its digital destiny.
He further said; “As we navigate this dynamic landscape, let us remember that our progress is intrinsically linked to our ability to harness the power of indigenous innovation, leverage technology for positive change, and ensure that no one is left behind on this transformative journey.
“Let’s embrace NTICE as a symbol of our collective potential, a platform to celebrate our achievements, and a driving force to propel Nigeria towards a brighter, more digitally empowered future,” Danbatta said.
