The Nigerian Communications Commission (NCC) has disclosed that the country’s telecoms industry contributed $70billion to the economy in the last two years.
Executive Vice-Chairman and Chief Executive Officer (EVC/CEO) of the Commission, Prof. Umar Danbatta made the disclosure in his keynote speech at a Cyberchain event at the weekend, in Abuja, where he emphasised that the Information and Communications Technology (ICT) sector has made tremendous impact on the Gross Domestic Product (GDP) and created opportunities, especially for young Nigerians.
Danbatta, represented at the forum by Mrs. Eli Ella, Principal Manager, Digital Economy at NCC, spoke on the topic, “Using Technology To Grow Nigeria’s GDP”.
He emphasised that Nigeria’s adoption of 5G technology, e-Commerce, FinTech and Big Data has boosted the revenue generation capacity of the West African country.
“Nigeria’s adoption of digital technologies has enabled it to diversify its revenue and economy,” he noted.
According to him, the sector has also created jobs, improved services and efficiency, reduced wastages, and optimised resources available in the ecosystem.
Danbatta said: “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.”
