By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports.Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports.Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports.
  • News
    • News Menu
  • Business
  • Economy
  • Governance
  • Politics
    • North Central
      • Benue Update
      • Kogi Update
      • Kwara Update
      • Nasarawa Update
      • Niger Update
      • Plateau Update
      • FCT Update
    • North East
      • Adamawa Update
      • Bauchi Update
      • Borno Update
      • Gombe Update
      • Taraba Update
      • Yobe Update
    • North West
      • Jigawa Update
      • Kaduna Update
      • Kano Update
      • Katsina Update
      • Kebbi Update
      • Sokoto Update
      • Zamfara Update
    • South East
      • Abia Update
      • Anambra Update
      • Ebonyi Update
      • Enugu Update
      • Imo Update
    • South South
      • Akwa Ibom Update
      • Bayelsa Update
      • Cross River Update
      • Delta Update
      • Edo Update
      • Rivers Update
    • South West
      • Ekiti Update
      • Lagos Update
      • Ogun Update
      • Ondo Update
      • Osun Update
      • Oyo Update
  • Sports
    • SOCCER
      • Football
      • Sports
      • AFCON
      • NPFL
      • Premier League
    • EURO SOCCER
      • Champions League
      • Europa Conference
      • Europa League
      • La Liga
      • Boxing
      • Tennis
      • UFC
  • Editorial
  • MORE
    • Opinion
    • Entertainment
    • Investigation
    • Politics Lite
    • Publications
    • Travelogue
Reading: Telecoms Investment Jumps From $38bn To $77bn, Says NCC
Share
Notification Show More
Font ResizerAa
Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports.Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports.
Font ResizerAa
  • Politics
  • Business
  • Technology
  • News
    • News Menu
  • Business
  • Economy
  • Governance
  • Politics
    • North Central
    • North East
    • North West
    • South East
    • South South
    • South West
  • Sports
    • SOCCER
    • EURO SOCCER
  • Editorial
  • MORE
    • Opinion
    • Entertainment
    • Investigation
    • Politics Lite
    • Publications
    • Travelogue
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports. > Blog > News > Telecoms Investment Jumps From $38bn To $77bn, Says NCC
News

Telecoms Investment Jumps From $38bn To $77bn, Says NCC

admin
Last updated: September 16, 2023 6:57 pm
admin
3 years ago
Share
Telecoms Investment Jumps From $38bn To $77bn, Says NCC
SHARE

Prof. Umar Danbatta, the Executive Vice-Chairman, 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 standard, 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, 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.

“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.

You Might Also Like

An Open Appeal to Elder Statesman, Former Vice President, HE, Alhaji Atiku Abubakar (Wazirin Adamawa)
ADC Warns Aspirants’ Supporters Against Divisive Rhetoric Ahead of June Primaries
Wike Revokes 22 Allocations, Offers 3-Month Devt Window To 21 Embassies, 168 Others
Abatement Notice: Lagos Government Seals Construction Site
Enemies Of Kano Distracted Gov Yusuf For One Year – Kwankwaso
TAGGED:Investment surgeInvestment trendsNCC reportNCC statisticsTelecom industry growthTelecom industry updatesTelecom sector expansionTelecommunications infrastructureTelecommunications sectorTelecoms investment
Share This Article
Facebook Email Print
Previous Article Tinubu To Address Africa Int’l Trade Exhibition At UNGA
Next Article 5 Die In Tragic Lagos-Ibadan Highway Accident; 12 Persons Injured
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about us

We influence 20 million users and is the number one business and technology news network on the planet.

Find Us on Socials

© Nigerian Anchor. All Rights Reserved.
na_logo
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..
[mc4wp_form]
Zero spam, Unsubscribe at any time.
NA Logo For Search
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?