Nigeria’s GDP is over $70 billion in the telecom sector, according to Danbatta.

According to Prof. Umar Danbatta, the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), the telecoms industry contributed more than $70 billion to Nigeria’s GDP.

He added that there are currently more than 210 million active telephone lines in the nation.

EVC disclosed the information on Wednesday during the Lagos-based 2022 Africa Tech Alliance Forum.

Dr. Augustine Nwulunne, Director of the NCC’s Digital Economy, spoke on behalf of Danbatta during his keynote address. Danbatta said: “Telecommunications has been credited with bringing millions of Nigerians out of poverty, diversifying the economy, and contributing over $70 billion to Nigeria’s GDP.

“It has also given thousands of Nigerians possibilities to work in a variety of jobs.

“A quick look at Nigeria’s historical GDP data shows the growth of the economy since the liberalization of the telecommunications industry.

“Telecom has been a crucial driver of this growth,” he said. “In 2001, Nigeria’s GDP was $74.03 billion, it increased to $176.13 billion in 2005, and it today stands at $440.78 billion.

He claims that NCC has created the conditions necessary to encourage the installation of the infrastructure required for the provision of accessible and universal connectivity.

The outcome of this, according to him, is that there are already over 210 million active telephone lines, or 11% of the world’s population, over 150 million Internet users, and a broadband penetration rate of 45%, which has allowed for over 80 million broadband subscriptions.

He emphasized that digital connectivity improves quality of life and that it plays a significant part in advancing development and sustaining the future, as well as in reaching the necessary quota in achieving a sustainable future and achieving the Sustainable Development Goals, or SDGs.