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Nigeria’s telecom industry grew 4.3% in Q1 2023

The telecom and information sector’s latest addition to the nation’s G D P stood at 2.508 trillion NIRA, or 5.29 billion Dollars. That represents 14.13% of the G D P in the first quarter of 2023.


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The beauty of the telecom is the fact that it’s, dynamic. It keeps changing. It’s not static. You know, the reason why I think we would’ve gotten into the, to generate this mode from the telecom cause we have moved to the 5G network was so along as the telecom willing to expand and have more coverage. They are always willing people to make use of the services

Industry players, say innovative policies continue to drive this growth. Among the programs are the successful rollout of the 5G and satellite-based wireless broadband service, positioning the telecom sector as a viable option for diversification in order to boost economic growth.

It is a sector that Nigeria should concentrate on. It’s a sector we should be able to put more focus on. All right. And because it has very huge potentials, so it should be for us to be able to, you know, maybe, probably, put more investments in that area and try as much as we can to, indigenize the technologies that are applying.

According to the National Bureau of Statistics, the telecom sector progressed by 9.2% year on year. Phone and internet subscription soared to almost 222 million and 157 million respectively, while broadband penetration is at 48%.

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Basic issue apart from finance has to do with facilities in this matter. Now it has to do with electricity. I think most of the service providers spend a lot in in running their services and maintaining it because you know where it costs. A must to run for 24 hours on diesel. It’s a lot of money, or even the cost of generating light is high. At the end of the day, when these people calculate their costs, it falls down to decision away.

Analysts say the sectors capable of delivering more financial gains to the nation if the financial and infrastructural gaps are closed, BU.


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