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Telecoms Sector Contributes $70 Billion to Economy, Says NCC

The Nigerian Communications Commission (NCC) has said technology-driven telecommunications sector contributed $70 billion to Nigeria economy, The Nation reports

Its Executive Vice Chairman, Prof. Umar Danbatta, stated this while delivering a keynote address at a Cyberchain Conference at the NAF Conference Centre at Kado in Abuja.

Danbatta, who spoke on the topic: Using Technology to grow Nigeria’s GDP, noted that the impact of technology to the nation and the society has been tremendous.

He said the sector remained a key driver of the national economy.

The NCC boss, who was represented by the commission’s Principal Manager for Digital Economy, Mrs. Ella Ehi, said the adoption of 5G, e-commerce, Fintech, Big data and other platforms have boosted the country’s revenue generation capacity.

Danbatta said: “Nigeria’s adoption of digital technologies has enabled it to diversify its revenue and economy, created jobs, improved services and efficiency, reduced wastages, and optimised resources available.

“Telecommunications has contributed over $70 billion to the Nigerian economy, provided over 500,000 jobs in the formal and informal sectors, and improved the lives of millions of Nigerians.

“Most Nigerians today cannot comprehend life without mobile phones. Presently, the liberalised Telecommunications sector has brought with it, instant messaging, instant information, financial inclusion, telemedicine, smart farming, e-Commerce and virtual learning. However, the best is yet to come.

“The benefits of technology are endless, and with technology becoming affordable, accessible, and available, these benefits will increase tremendously.”

CyberChain Abuja Convener Jude Ozinegbe said Nigeria is moving in the right direction towards embracing the gains of tech ecosystem.

“We are moving from analogue to digital. Some people seem to have been left behind. That is why we have decided to gather leaders in the space to educate us. We have leaders in this space that have seen the possibility and opportunity in this ecosystem.

“This is my contribution to expanding digital economy in Nigeria. As much as you can, contribute something positive about the space to amplify the good tidings within the ecosystem,” he said.

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Copyright 2022 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to  www.signalng.com and other relevant sources.

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