Telecoms investments hit $76bn, 5G subscriptions now 60,000 — NCC - Punch Newspapers
Danbatta said the sector’s investment profile has recorded tremendous growth from its initial investment profile of $500m as of 2001.
Commenting on the sector’s contribution to GDP in 2022 and 2023, he said, “In the first quarter, the sector contributed 12.94 per cent equivalent to N2.25tn while the second quarter witnessed an all-time high GDP contribution by the telecom sector to the nation’s economy, standing at 15 per cent and valued at N2.59tn.
“The sector’s contribution to GDP in the third was 12.85 per cent and in the fourth quarter, it grew to 13.55 per cent, which are valued at N2.44tn and N2.85tn respectively. “The growth trajectory continued this year as telecommunications and Information Services sector in Nigeria delivered a handsome N2.51tn in terms of financial value contribution to the nation’s gross domestic product, GDP, representing 14.13 per cent in the first quarter 2023,” he said.All rights reserved.
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