Broadband Penetration-NCC: credit: NCC

Telecoms Record over $70m Investment, 500,000 Jobs in 21 Years

TECHDIGEST- Telecoms Record over $70m Investment, 500,000 Jobs in 21 Years
The Nigerian Communication Commission (NCC) has revealed that the telecommunication industry recorded over $70 billion investment in the past 21 years.

The Executive Vice Chairman of the NCC, Umar Danbatta, disclosed this at the Cyberchain 2022 event on Tuesday in Abuja.

According to a statement released by the NCC spokesperson, Reuben Muorka noted that the NCC boss said “From $500 million investments in the sector as at 2001, the telecommunications industry has recorded over $70 billion investment till date”.

He added that the industry has created over 500,000 formal and informal jobs for Nigerians between 2001 to 2022.

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“The sector has provided over 500,000 formal and informal jobs for Nigerians. From an insignificant contribution to GDP in 2001, the telecoms sector, as at the last quarter of 2021, contributed 12.61 per cent to GDP.

Also he said there has been a significant increase in the number of functional phone lines.

“While the growth in the sector has been phenomenal, from some 400,000 functional phone lines in 2001 to over 209 million active mobile subscriptions, achieving a teledensity of 110 per cent, as at August 2022,” he added.

Mr Danbatta said the commission was committed to driving the deployment and adoption of emerging technologies.

A few of these initiatives include Internet of Things (IoT), utilizing Big Data, Blockchain, Robotics and Virtual Reality, Fintech, Artificial Intelligence (AI), and telemedicine, among

 
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