Nigeria’s telecoms and information services sector contributed N2.508 Trillion to the country’s GDP In the first quarter of 2023, accounting for 14.13% of total GDP.
According to data issued by the National Bureau of Statistics, the sector increased by 4.3% over the previous quarter, when it recorded 13.55%.
On an annual basis, the growth increased positively from 12.94% in the first quarter of 2022 to 14.13 in 2023, which represents an approximate growth of 9.19%.
The 46 different economic sectors that make up the telecom and information services baskets were used to compute the percentage of the economy that is contributed by telecom.
In a statement signed by Reuben Muoka, Director, Public Affairs of the National Communications Commission, the NCC said the Nigerian telecom industry has continued its show of positive outlook, which is credited to innovative and predictable telecom regulatory environment promoted, and implemented by the Commission.
“One of the key highlights of the telecom industry performance within the period was the generation of $820.8 Million for the federal government from 5G Spectrum licenses fees paid by three eventual winning operators, MTN, MAFAB and Airtel,” Muoka said.
He added: “Following the issuance of the licenses in December 2021 to MTN and MAFAB, both companies have launched 5G services. Airtel which received its license in December 2022, is set to launch services this month, June 2023.
Another major development in the sector was the launch of Starlinks broadband services, a satellite based wireless broadband services with potential nationwide coverage. This followed the issuance of license to Elon Musk-owned by SpaceX by the Nigerian Communications Commission. The services are now available in different parts of the country.”
Meanwhile, the NCC said that the number of phone subscribers as of April 2023 was at 223.6 million, with a teledensity of 117%.
For the same time period, there were 157 million internet subscribers and 92 million broadband subscribers, translating to 48% broadband penetration in the country.