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Market Digest Nigeria

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Telecoms contributions to GDP hit 10.88% in Q1

Telecoms

Statistics from the Nigerian Communications Commission (NCC), has shown that in the first quarter (Q1) of 2020, the telecoms sector contributed 10.88 per cent to the country’s Gross Domestic Products (GDP), a 0.28 per cent rise as against the 10.60 per cent growth witnessed in Q4 2019.

Telecoms

Compared to the corresponding period, Q1 2019, the data showed that telecoms contributions to GDP grew by 0.77 per cent. Specifically, Q1 2019 pulled a 10.11 per cent growth.

Already, the Minister of Communications and Digital Economy, Dr.Isa Pantami, has disclosed that digital technology has so far contributed 4.07 per cent to the GDP in 2020.

Meanwhile, the  Nigerian Senate, the country’s upper legislative chamber has officially confirmed the nomination of Prof. Umar Garba Danbatta for reappointment as the Executive Vice Chairman (EVC) and Chief Executive Officer (CEO) of the NCC.

The Senate confirmed Danbatta during its plenary yesterday, July 21, in Abuja, following the consideration of the report of Senator Oluremi Tinubu-led Senate Committee on Communications.

Danbatta had, on July 15, appeared before the Senate Screening Committee, and gave accounts of his stewardship as the country’s chief telecoms regulator in the last five years. The EVC’s appearance before the Senate followed his nomination for reappointment as the umpire for the telecom industry for another five years by President Muhammad Buhari on June 5, 2020.

Danbatta was appointed, in the first instance, for a five-year term in office as the NCC’s Executive Vice Chairman and Chief Executive Officer, on August 4, 2015 and was subsequently confirmed by the Senate on November 25, 2015.

With the Senate confirmation, Danbatta has received a vote confidence to continue to steer the regulatory activities of the countries over $70 billion telecommunications industry for another five years towards fast-tracking Federal Government agenda on digital economy development.

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