Telecoms contribute ₦2.5trn to Nigeria’s GDP in Q1 of 2023

Muoka emphasized that the telecoms industry's growth statistics demonstrated an exceptional record of contributions to the Nigerian economy.According to the Nigerian Communication Commission (NCC), telecommunications and ICT services contributed 2.508 trillion to Nigeria's GDP in the first quarter of 2023.In a statement published by its Director of Public Affairs, Reuben Muoka, NCC cited numbers released by the National Bureau of Statistics (NBS). "The contribution of telecoms to GDP was calculated from 46 distinct sectors of the economy that comprise telecoms and information services baskets." "The Nigerian telecoms industry has maintained a positive outlook, which can be attributed to the NCC's innovative and predictable telecoms regulatory environment." “One of the key highlights of the telecoms industry performance within the period was the generation of 820.8 million dollars for the Federal Government from 5G spectrum licences fees. “The fees were paid by three operators, MTN, MAFAB and Airtel,’’ Muoka stated.