adplus-dvertising
Press "Enter" to skip to content

Nigeria’s Telecommunications Sector has Attracted $70bn Investments—NCC

The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Mr Umar Danbatta, has disclosed that the country’s telecommunications sector has attracted about $70 billion in investments.

In his keynote address delivered at a two-day International Conference of the Association of Media and Communication Researchers of Nigeria (AMCRON), the NCC chief described the industry as a critical component of the economy.

He also said these huge investments were made possible through the implementation of policies designed by the government to create enabling environment for stakeholders.

Speaking on the theme Influence of Communication Policies on Digital Revolution in Nigeria, Mr Danbatta stated that communication policies are essentially blueprints and strategies, marked by plans for the development of Information and Communication Technology (ICT) in a way that nudges people to harness opportunities of the Fourth Industrial Revolution through the embrace of digital culture across sectors by individual, businesses and institutions.

According to him, this diligent implementation of various telecommunications policies, strategies and regulatory frameworks has continued to enhance the nation’s capacity to deepen citizens’ access to digital resources, transformed media and knowledge production and positively impacted Nigeria’s economic and social progress.

The NCC boss, represented by the agency’s Director of Research and Development, Mr Ismail Adedigba, while tracing the trajectory of growth in the telecoms industry from 1960 till date, said the past decades had witnessed formulation of various policies and laws for developing the industry, but remarkable growth in the sector started after the sector’s liberalization in 2001.

He said through diligent implementation of policies, vision plans and strategic regulatory frameworks by the NCC, in collaboration with relevant stakeholders in the industry, there is increased access to digital services, and the media industry is being shaped in terms of patterns of information dissemination through multiple platforms while the digital revolution has revealed a new vista of research areas for scholars in the field of mass communication.

“Today, the active telecom subscribers have grown significantly to 212.2 million from about 400,000 aggregate telephone lines in the country as of 2000, on the eve of liberalisation. This represents a teledensity of 111 per cent. Basic Internet subscriptions grew from zero ground to 152.7 million now, while broadband subscriptions stand at over 86 million, representing a 45.09 per cent penetration as of July 2022.

“The industry has also become a major contributor to our national economy, with the ICT industry contributing 18.94 per cent to the nation’s Gross Domestic Product (GDP) as of the second quarter of 2022, according to the latest data released by the National Bureau of Statistics (NBS). From this, the telecommunications sector alone contributed 15 per cent to GDP.

“The ICT contribution to GDP is, by far, the second largest contributor to the national economy aside from the agriculture sector. From less than $500 million investment in 2001, the investment profile in the nation’s telecommunications sector has also surpassed $70 billion. The telecommunication sector has also created direct and indirect jobs for millions of Nigerians to date,” Danbatta said in his keynote speech,” he said.

Mr Danbatta expressed hope that just as the liberalisation policies have worked quantifiably for Nigeria’s progress, yielding exponential results, the commission is committed to the implementation of the various extant economic recovery plans, digital economy policies, the national broadband plan as well as strategic management plans which have been streamlined in NCC Strategic Vision Plans.

The EVC promised that the NCC would continue to ensure more quantum leaps and retain its current leadership role in the telecommunications space to lead Nigeria into the next level of development.

“To achieve this, the NCC will continue to strengthen collaboration with the media professionals and communication research-focused bodies such as AMCRON, towards creating an environment where stakeholders can leverage digital infrastructure to achieve greater efficiency in what they do,” he said.

WATCH NOW

DOWNLOAD NOW

Spread the love