Telecom sector contributes N2.508 trillion to Nigeria’s GDP

The telecommunications and information services sector in Nigeria has, in the first quarter 2023, delivered a handsome N2.508 trillion in terms of financial value contribution to the nation’s gross domestic product (GDP), representing 14.13 per cent.

Figures released by the National Bureau of Statistics (NBS) showed that the sector recorded a 4.3 per cent increase from its performance in the last quarter of 2022 when it recorded 13.55 per cent.

When compared on a year-on-year basis, the growth showed a positive progression from 12.94 per cent in the first quarter of 2022 , to the 2023 figure of 14.13, which is an approximate growth of 9.19 per cent.

The percentage of telecom contribution to GDP was calculated from 46 distinct sectors of the economy, which constitute telecom and information services baskets.

The Nigerian telecom industry has continued its show of positive outlook, which is credited to the innovative and predictable telecom regulatory environment promoted,…

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