Nigeria’s Telecom Sector Registers Growth

Nigeria’s telecoms sector achieved 5% growth within the first quarter of 2016- up from 3.49% growth in Q1 2015, IT Web Africa reports.

According to the Nigerian Telecommunications (Services) Sector Report for Q1 2016, released by the country’s National Bureau of Statistics (NBS), the telecoms sector contributed NGN1.4 billion or 8.83% of Nigeria’s GDP – an increase of 0.5% points compared to Q1 2015.

“The share of telecommunications in total real GDP had declined throughout 2010 to 2014, but for the last five quarters growth in telecommunications has been higher, meaning the trend has reversed,” the report stated.

Vice President Ayo Osinbajo said, “This administration will not fail in using ICT to drive the economy. We have been doing everything possible in this direction. If we continue on this path, ICT should be contributing between 25 and 30 percent to the country’s GDP in a few years. We also have plans to create ICT-focused university. We have discovered that many youths lack requisite skills to compete in the international market.”

Nigeria’s Minister of Communications, Adebayo Shittu, has agreed and said the target could be reached by 2020 by intensifying government’s efforts to improve the economy via an ICT-driven smart government initiative.

The first step towards achieving this, he said, is achieving 30% broadband penetration by 2018. “With ubiquitous internet, many IT savvy young Nigerians would also be able to work from their homes and even create employment.”

2 COMMENTS

  1. Nigeria is growing fast in Information Technology, but we still need to do a lot, because this will develop other sectors of the economy. So we besiege all investors home and in the diaspora to invest in the I.T sector to help Nigeria grow better. Thanks.

  2. The telecommunication sector is growing fast and this has had great impact and development in other sectors of the economy. this growth is synonymous to the promotion of the economy and we will encourage that more investors should look into the further development of the telecommunication sector. Thanks for the enlightenment

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