Telecom investment rose to $77billion - NCC boss

The Executive Vice Chairman of, Nigerian Communications Commission, NCC, Professor Umar Garba Danbatta said Telecommunication investment in the country has risen to $77 billion.

The NCC boss said the figure rose from $38 billion when he assumed duty as the EVC of the commission in 2015.

Prof. Danbatta made this known during a media chat with stakeholders in the media industry over the weekend in Kano.

He also boasted that the Telecom industry under his watch has grew and currently accounts for 16 percent out of the 20 per cent contributed by the Information and Communication Technology, ICT to the nation’s Gross Domestic Product, GDP.

According to him, “the largest sector that contributed more to the GDP is Agricultural sector with 23 per cent. The Information and Communication Technology, ICT is the next with almost 20 per cent but out of that Telecom contributes 16 per cent from a little over 8.5 per cent in 2015.

“Total investment when I assumed duty, it was between $30 to $38 billion. According to figures received, this figure has now risen to $77 billion.

“This figure on contribution of the GDP was released by National Bureau of Statistics, NBS at the end of Q2 (second quarter), 2023,” he stated.

Prof. Danbatta maintained that the commission has recorded remarkable milestones which he simply puts at 119 out of which he said it achieved 71 under the Strategic Vision Plan, SPV 1 and 48 others under the SPV 2.

He said the milestones were achieved despite challenges faced by the Telecom industry namely, right of way (RoW), fibre cuts, high capital requirement for deployment, multiple taxations and regulations, among other frustrations constituted barriers to broadband deployment in the country.

The NCC Boss however unveiled seven points agenda or targets as its future plans which include, promoting digital inclusion, fostering innovation, ensuring consumer protection, improving efficient spectrum management, cyber security and resilience, regulatory flexibility and stakeholders engagement.

Earlier in his welcome address, the Commission’s Director of Public Affairs, Mr. Reuben Mouka said the Commission’s leadership is media friendly and considers the media as a partner to help make the stakeholders understand happenings in and around the industry.

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