According to recent statistics released by the National Bureau of Statistics (NBS), the telecommunications and information services sector in Nigeria made a significant contribution of N2.508 trillion to the country’s Gross Domestic Product (GDP) in the first quarter of 2023.

This accounted for 14.13% of the GDP, showing a growth of 4.3% compared to the previous quarter’s contribution of 13.55%.

The data also revealed a positive year-on-year progression, with the sector’s contribution rising from 12.94% in Q1 2022 to 14.13% in 2023, representing a growth of approximately 9.19%.

The NBS calculated the telecom sector’s percentage contribution based on 46 sectors within the economy encompassing telecommunications and information services.

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The Nigerian Communications Commission (NCC) highlighted the telecom industry’s positive outlook, attributing it to the implementation of an innovative and predictable regulatory environment.

Notable achievements within the sector included the generation of $820.8 million in 5G spectrum license fees paid by MTN Nigeria, Mafab Communications, and Airtel Nigeria to the federal government.

The launch of 5G services by MTN and Mafab, and the forthcoming launch of services by Airtel, along with the introduction of Starlinks broadband services, further contributed to the sector’s growth and development.