Telecoms Industry Contributes $70bn To Nigeria’s Economy – Danbatta

The Executive Vice Chairman (EVC) and the CEO of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has disclosed that technology-driven telecommunications industry has contributed $70 billion to Nigeria economy in the last couple of years.

Danbatta revealed this in his keynote speech at a Cyberchain event in Abuja at the weekend, stressing that technology has made tremendous impact o the nation’s GDP and created opportunities for the young people.

Represented by the Principal Manager, Digital Economy at the Commission, Mrs Eli Ella, the NCC boss, who spoke on the topic “Using Technology To Grow Nigeria’s GDP”, emphasised that Nigeria’s adoption of 5G, E-commerce, Fintech, Big data have boosted the country’s revenue generation capacity.

He said, “Nigeria’s adoption of digital technologies has enabled it to diversify its revenue and economy, created jobs, improved services and efficiency, reduced wastages, and optimised resources available.

“Telecommunications has contributed over $70 billion to the Nigerian economy, provided over 500,000 jobs in the formal and informal sectors, and improved the lives of millions of Nigerians.

“Most Nigerians today cannot comprehend life without mobile phones. Presently, the liberalised telecommunications sector has brought with it, instant messaging, instant information, financial inclusion, telemedicine, smart farming, eCommerce and virtual learning, however, the best is yet to come. ”

Prof Danbatta said further that “the benefits of technology are endless, “stressing that with technology becoming affordable, accessible, and available, the benefits will increase tremendously.”