In the first quarter of 2023, Nigeria’s telecoms and information services industry contributed a magnificent N2.508 trillion (or 14.13 percent) of the country’s GDP in terms of financial value.
According to data made public by the National Bureau of Statistics (NBS), the sector’s performance in the third quarter of 2022, when it recorded 13.55 percent, increased by 4.3%.
When compared year over year, the growth increased positively from 12.94% in the first quarter of 2022 to 14.13% in 2023, which is an estimated gain of 9.19%.
The 46 different economic sectors that make up telecom were used to compute the percentage of telecom’s contribution to GDP and information services baskets.
The Nigerian telecom industry has continued its show of positive outlook, which is credited to the innovative and predictable telecom regulatory environment promoted, and implemented by the Nigerian Communications Commission (NCC).
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 licences fees paid by three eventual winning operators, MTN, MAFAB and Airtel.