By thenewsturf team
Executive Vice Chairman / Chief Executive Officer of the Nigerian CommunicationsCommission (NCC), Prof. Umar Garba Danbatta leads a determined and focused team bent on earning a huge revenue for the nation while delivering on its mandate of regulating telecommunication services and facilities and setting performance standards for telephone services in Nigeria.
Since he assumed office in August 2015, Danbatta has steadily led the NCC to enhance the investment profile from N500 m as at 2001 when the telecoms sector was fully liberalized to N75.6bn as at 2021.
Exuding the confidence of an achiever at a media parley in lagos last July, the EVC said the impressive figure from the telecommunications sector made up of foreign direct investment (FDI) and local investment ( as of 2021), was a pointer to the growth in the telecoms sector despite the numerous challenges.
The investment profile as at 2018, stood at $68 billion, grew to $70.5 billion in 2019, climbed to $72 billion in 2020 and recorded $75.6 billion at the end of 2021.
The NCC boss noted that the investment profile in the telecommunications sector in Nigeria is computed from the Central Bank of Nigeria (CBN) as well as the financial data obtained from service providers by the Commission.
The NCC CEO explained that NCC surmounted the odds by putting in place an effective regulatory environment to achieve the landmark figures over the years.
This sectoral feat also reflected in Nigeria’s Gross Domestic Product (GDP) quarterly which rose from about 8.5 per cent in the third quarter of 2015, contributing N10.126 trillion to the nation’s GDP in 2022, according to data from the National Bureau of Statistics (NBS).
“In the first quarter, the sector contributed 12.94 per cent equivalent to N2.246 trillion while the second quarter witnessed an all-time high GDP contribution by the telecom sector to the nation’s economy, standing at 15 per cent and valued at N2.593 trillion. The sector’s contribution to GDP in the third was 12.85 per cent and in the fourth quarter, it grew to 13.55 per cent, which are valued at N2.436 trillion and N2.851 trillion respectively.
“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,”he explained.
Telecoms contribution to national GDP has grown significantly since assumption of Prof. Danbatta as the EVC of NCC in August, 2015, according to available data from NBS.
Danbatta sums up the situation with the assertion that ” the telecoms sector has recorded phenomenal growth statistics in the past two decades of its liberalization . However, we will not rest on our oars. We will continue to push upward to greater heights by encouraging expansion of frontiers to put Nigeria’s imprint on the global map of digital economy.”
While trumpering its achievements as a top earner, Danbatta also stated that its regulatory initiatives also ensured a rapid growth in addition to the growth in investment and GDP contribution.
According to him, “as of May, 2023, active voice subscriptions reached 221.3 million, equivalent of 115.91 per cent teledensity, while Internet subscriptions rose to 159.6 million”.
Broadband subscriptions on Third Generation (3G) and Fourth Generation (4G) networks rose to 92.2 million, representing a 48.28 per cent broadband penetration .
The issuance of 3.5GHz spectrum licences for the deployment of Fifth Generation (5G) networks in Nigeria, marked by ultra-high speed internet, low latency and high capacity, and the subsequent commercial launch by two of the three licence holders, 5G subscriptions also grew to over 60,000 in 12 states of the Federation.
***With Agency Reports