The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has expressed confidence in the telecom sector’s ability to continue attracting investment and boosting the country’s economy.
He highlighted the sector’s significant contribution to Nigeria’s Gross Domestic Product (GDP), noting that it has performed well despite the country’s economic challenges.
He stated this at a reception held recently in his honour by the Association of Telecommunications Companies of Nigeria (ATCON) in Lagos State, South-West, Nigeria.
According to the latest telecom industry statistics released by the NCC, the sector contributed 14.58% to Nigeria’s GDP in Q1 2024, up from 14.13% in the same period in 2023.
Dr. Maida applauded the growth while acknowledging the sector’s numerous challenges.
“I think even the president realizes the importance of digital infrastructure to the future of Nigeria,” said Dr. Maida.
He assured that the Commission and the Ministry are focused on implementing policies to enhance the telecom sector’s contribution to the GDP, aiming for a 25% contribution.
The NCC Boss 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 also 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.