Telecoms contributes $70bn to Nigeria Economy – NCC reveals

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The Nigerian Communications Commission(NCC) revealed that the telecommunications sector has contributed $70 billion to the economy.

The Executive Vice Chairman of NCC, Prof Umar Danbatta, said this while delivering a keynote address at a Cyberchain Conference in Abuja.

Danbatta, who spoke on the topic: ”Using technology to grow Nigeria’s GDP”, asserted that the impact of technology to the nation and the society has been tremendous, said the telecoms sector remains a key driver of the national economy.

Represented by the Principal Manager Digital Economy of the NCC, Mrs Ella Ehi, the NCC boss explained the adoption of 5G, e-commerce, Fintech, Big data and other platforms have boosted the country’s revenue generation capacity.

In his words:

“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, eCommerce and virtual learning, however, the best is yet to come.”