The impact of the telecoms industry performance on the Nigerian economy, and indeed its contribution of N2.3 trillion or 14.30 per cent Gross Domestic Product (GDP) in the second quarter of 2020 is the result of effective industry regulator’s effort.
Stakeholders while applauding the performance of the industry in a report by The Guardian attributed it to the effort of the Nigerian Communications Commission.
Data on the performance revealed that the contribution of the sector translates to N2.272 trillion, up from N1.821 trillion in the first quarter of the year.
The figures, which were stated in the National Bureau of Statistics (NBS), indicated an increase of 31.43 per cent.
In a comparative note, the statistics said that while the entire Information and Communication Technology (ICT) industry recorded 17.83 % in the second quarter, the 14.30 % contribution of the telecoms sub-sector was far above oil and gas, and other non-oil sectors’.
The stakeholders, including the Association of Telecoms Companies of Nigeria, (ATCON) and the Association of Licensed Telecoms Operators (ALTON) commended the regulatory framework driving the digital frontiers in the last five years.
The ALTON Chairman, Gbenga Adebayo observed that the growth was the result of the investor friendly policy and regulatory environment championed by the NCC, commitment of all stakeholders, consistent investment on network maintenance and expansion, and sacrifice by sector operators.
The ALTON Chairman called for continued investment in network expansion and maintenance operations, access to foreign exchange to procure network critical equipment, consistency in policy and policy environment.
Adebayo said there should be access to spectrum and friendly policies around its allocation, assignment and cooperation between the stakeholders.
ATCON President, Olusola Teniola, said: “telecoms industry has remained bullish owing to the quality of leadership at the helm of affairs at the Commission.”
He added that NCC had become reference point in telecoms regulatory ecosystem in Africa and beyond.
Similarly reports indicated efforts of the supervising Ministry of Communications and Digital Economy has been effective in impacting the growth notwithstanding the economy collapse caused by the outbreak of COVID-19 pandemic.
Other success indices responsible for the growth are the increase in broadband penetration, Internet usage, number of access to telephone and several other initiatives by the Commission.
The policy direction of the NCC, is also adjudged to be key factor in the growth impact including the digital-based activities across other sectors of economy increasing efficiency and effectiveness in economic operations.
Also recently, the Executive Vice Chairman of NCC, Prof. Umar Danbatta, at the NCC first virtual telecoms consumer parliament (VTCP), recalled that the NCC has always been innovative and proactive in its regulatory activities by ensuring that the economy remains afloat despite the restrictions occasioned by the pandemic.