Investment Inflows to Telecom Jumps to $77bn –NCC
Telecom Sector: Prof. Umar Danbatta, the Executive Vice-Chairman of the Nigeria Communications Commission (NCC), says telecoms investment inflow grew from $38 billion to $77 billion by the second quarter of 2023.
Danbatta, who spoke in Kano on Saturday at a media parley, revealed that the sector had contributed 16 per cent to the nation’s Gross Domestic Product (GDP) within the period under review.
He said that the statistics by the NCC was based on the computation by the Nigeria Bureau of Statistics (NBS). He said: “From about eight per cent contribution to GDP in 2015, when I came on board as the EVC of NCC, quarterly GDP has increased significantly to reach its current threshold of 16 per cent.
“And this has continued to positively impact all aspects of the economy.”
Danbatta, however, attributed the success to “thorough sustained regulatory excellence and operational efficiency by the Commission”, adding that the industry has grown in leaps and bounds over the past two decades.
“We have witnessed explosive growth, improved regulatory standards, digital innovation that have generated global recognition,” he said.
He said that telephone users in Nigeria had hit 218.9 million, internet subscribers 159.5 million, while broadband users in the country now are 88.7 million within the period under review.
Danbatta listed issue of Right of Way (RoW), fibre cuts, high capital requirement for deployment, and multiple taxations and regulations, among other frustrations, constituting barriers to broadband deployment in the country.
The EVC, however, assured that the NCC would “navigate regulatory complexities, digital divide and literacy to tackle the challenges”. He said that the commission would establish an emergency communication centre in each of the 36 states of the federation and the Federal Capital Territory, Abuja.
Danbatta said establishing the centres was necessary, so as to bridge the gap between distressed and emergency response agencies in the country. He explained that the commission had increased the amount of research grants being given to universities from N20 million to N30 million. He said that three universities had benefitted from the new grant, so far.
“NCC as a regulator is mindful of the fact that telecom is an enabler and catalyst for economic advancement of the country. It has consistently made available, affordable and accessible telecoms service to check certain telecoms barriers,” he said.
Danbatta added that the task of the commission as a regulatory agency in the development of the telecommunications sector was to ensure best practices. He said that this was in view of the fact that NCC was one of the sectors that had contributed to the enhanced growth of the Nigerian economy.
The vice-chairman pointed out that other major challenges confronting the commission included wilful destruction of its facilities and the number of taxes imposed on telecommunication companies. Naira Devaluation Deepens Economic Crisis in Nigeria
“The challenges being faced by the commission include 41 categories of taxes imposed on telecommunications companies and wilful destruction of our facilities,” he said. He said that the commission would continue to engage stakeholders in the media industry in order to keep members of the public abreast of its activities.
The post Investment Inflows to Telecom Jumps to $77bn –NCC appeared first on Nairalaw.com.
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