Telecom Sector Boosts GDP With N2.508 Trillion
The telecommunications sector has boosted the nation’s gross domestic product (GDP) with its contribution of N2.508 trillion (14.13%) in the first quarter of 2023.
A statement by the Director, Public Affairs, Reuben Muoka said the 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.
According to the statement when compared on a year-on-year basis, the growth showed 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 by 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, and implemented by the Nigerian Communications Commission (NCC).
