If the Nigeria Communications Commission (NCC) is accounting for 16% of the country GDP, then, there is no need to look for a soothsayer to be professing that the agency is the future of Nigeria Economy.
Going by the last captured statistics by the Nigeria Bureau of Statistics (NBS), the Nigeria telecoms sector’s contribution to the nation’s Gross Domestic Product (GDP) display a significant increased to 16 per cent (16%) in the second quarter of 2023, according to the data reported by the Nigerian Communications Commission (NCC).
Away from the NBS statistics, the Nigeria Telecommunication sector is leading the way to the future of Nigeria’s economy as the continued growth of the sector is expected to continue growing, driven by increasing mobile phone penetration and internet usage across the country by Nigerians.
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While not shying away from the fact that, the expansion of 4G and 5G Networks has played a bigger role on the increase in its growth. As 4G activeness continues to boost the internet penetration of Nigerians, it is important to as well focus on the shift towards the expansion of 5G networks, to provide faster and more reliable connectivity.
The commission’s impact of Internet of Things (IoT) Integration by Telecoms companies to focus on integrating IoT technologies into their networks, and to enable smart city initiatives, industrial automation, and connected devices.
The increase in emergence of Digital Content and Services, which includes streaming platforms, online gaming, and e-commerce, and similar others are driving telecom companies to invest in content partnerships and digital platforms.
And the potential partnerships and collaboration with other sectors, such as energy, healthcare, and education, to leverage technology for social and economic development of Nigeria is a deal on its own end..
