• Tue. Jul 16th, 2024

Nigeria’s Telecom Sector Continues To Attract Investors – NCC


Jul 4, 2024

The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has expressed confidence in the telecom sector’s robust ability to attract investment and boost Nigeria’s economy. Speaking at a reception held in his honor by the Association of Telecommunications Companies of Nigeria (ATCON) in Lagos, Dr. Maida highlighted the sector’s significant contributions to Nigeria’s Gross Domestic Product (GDP), noting its strong performance despite economic challenges.

According to the latest industry statistics released by the NCC, the telecom sector contributed 14.58% to Nigeria’s GDP in Q1 2024, an increase from 14.13% in the same period in 2023. Dr. Maida applauded this growth while acknowledging the numerous challenges the sector faces.

“I think even the president realizes the importance of digital infrastructure to the future of Nigeria,” said Dr. Maida. He assured that the Commission, in collaboration with the Ministry of Communications, Innovation, and Digital Economy, is focused on implementing policies to enhance the telecom sector’s contribution to the GDP, aiming for a 25% contribution.

Dr. Maida stated, “Myself and the Minister of Communications, Innovation, and Digital Economy are working very closely to ensure sustainability for an industry that has done so well for the country with a 14% GDP contribution. We believe we can achieve 25% and above, and work is ongoing in that regard with the Ministry.”

The President of ATCON, Mr. Tony Izuagbe Emoekpere, assured Dr. Maida of the industry’s support in addressing the telecom sector’s challenges. He presented a list of issues requiring intervention by the telecom regulator, including a review of telecom service prices to reflect rising inflation, which the regulator has not yet permitted.

Dr. Maida responded positively, indicating that the Commission would look into the issue. “There is a lot of work to be done, especially in addressing challenges faced by Mobile Network Operators (MNOs) and Original Equipment Manufacturers (OEMs) for long-term sustainability,” he said.

The reception served as a platform to reinforce the collaborative efforts between the NCC and industry stakeholders to ensure continued growth and investment in Nigeria’s telecom sector.

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