Professor Umar Garba Danbatta, the Executive Vice Chairman of the Nigerian Communications Commission, NCC, recently stated that telecommunication investment in the country has increased to US$77 billion.
The NCC boss said the figure rose from US$38 billion when he assumed duty as the EVC of the Commission in 2015.
Prof. Danbatta made this known during a media chat with stakeholders in the media industry in Kano.
He also boasted that the Telecom industry under his watch has grown and currently accounts for 16 per cent out of the 20 per cent the Information and Communication Technology, ICT contributed to the nation’s Gross Domestic Product, GDP.
He said, “The most significant sector contributing more to the GDP is the Agricultural sector with 23 per cent. The Information and Communication Technology, ICT is the next with almost 20 per cent, but Telecom contributes 16 per cent from a little over 8.5 per cent in 2015.
“Total investment when I assumed duty was between US$30 to US$38 billion. According to figures received, this figure has now risen to US$77 billion.
“This figure on contribution of the GDP was released by National Bureau of Statistics, NBS at the end of Q2 (second quarter), 2023,” he stated.
Prof. Danbatta maintained that the Commission has recorded remarkable milestones, which he puts at 119, out of which he said it achieved 71 under the Strategic Vision Plan, SPV 1 and 48 others under SPV 2.
He said the milestones were achieved despite challenges faced by the Telecom industry, namely, right of way (RoW), fibre cuts, high capital requirement for deployment, and multiple taxations and regulations, among other frustrations that constituted barriers to broadband deployment in the country.
