The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Professor Umar Dambatta, has disclosed that the regulatory body has successfully deployed the telecoms industry to lift national economy from going under.
Professor Dambatta stated this while speaking on the increasing contributions of the telecoms industry to the nation’s Gross Domestic Product (GDP) over the past few years, during the second edition of the Nigerian Telecommunications Indigenous Content Expo (NTICE 2023) and the commitment of the NCC to sustaining the trend.
At the event themed; “Harnessing Indigenous Content for Economic Growth: Networking to Boost Investment,” Dambatta said that the telecoms sector’s performance was instrumental to lifting Nigeria out of recession with a 12.45 per cent contribution to the GDP in Quarter 4 of 2020.
He said the sector’s contribution increased to 14.13 per cent as of Quarter 1 of 2023, thereby making it among the sectors with the biggest contributions to the socio-economic growth of the country.
He also disclosed that telecoms had two of the most valuable listed companies in Nigeria, with a collective market capitalisation in excess of N10.45 trillion, adding that the commission, in 2021 and 2022, generated revenue in excess of $820 million from the auction and grant of 3.5GHz Spectrum band licenses to three operators to boost the deployment of Fifth Generation (5G) services in Nigeria.
Dambatta maintained that the NTICE was one of the major and indelible achievements of NCC through NODITS, as it had served, not only to promote Pillar number 5 (Strategic Partnering) of the Strategic Management Plan (SMP) 2020 to 2024 of the commission but
had also become the flagship indigenous content event for the industry.
“By showcasing indigenous innovations and providing opportunities for young entrepreneurs, we are not only nurturing our local talents, but also encouraging a culture of entrepreneurship and creativity that will propel Nigeria into the global stage of technological leadership,” he said.
He said in addition, the commission created an opportunity to celebrate and showcase Nigeria’s achievements in the telecommunications world and indigenous content creation and adoption.
