The Minister of Communications Adebayo Shittu on Monday said that the telecommunication sector has so far made a significant contribution of N2 trillion to the Gross Domestic Product (GDP) of Nigeria, which represents 9.5% of the nation’s GDP.
The Minister disclosed this during his valedictory press conference in Abuja, where he showcased his achievements in the last three and half years adding that the total foreign direct investments to the sector now stands at $1.73 billion.
He also disclosed that the sector under his watch has achieved 14 percent increase in teledensity, rising from 108 percent in 2015 to 123 percent in 2018. He added that the nation’s mobile penetration rate has moved up from 83 percent to 84 percent.
Shittu said further that Nigeria now boasts of 53 percent as against 45 percent recorded in 2015 through the Ministry’s robust regulation and leadership.
Contributing, the Executive Vice Chairman of Nigerian Communications Commission(NCC) Umar Danbatta said the commission has initiated policies, which compelled telecom giant Mobile Telecommunication Network (MTN) to be listed into the Nigerian Stock Exchange, NSE through its focused and firm regulation.
‘‘We have succeeded in empowering Nigerians to own, control and manage one of the dominant telecommunication companies in the country by MTN listing in the Nigerian Stock Exchange (NSE).
‘‘Arising from the settlement agreement reached with MTN through payment of N330billion to government coffers of which they have paid N235billion remaining only N55billion which is the last tranche.
‘‘MTN has been listed in the NSE and Nigerians can now buy shares and through this, Nigerians will be financially empowered and socially transformed.’’
Danbatta stressed that the sector has expanded the data usage to 85 terabytes, an indication of exponential growth over the last three and half years of the present administration, which has boosted development in the sector.
Also speaking on broadband deployment, Danbatta again noted the resolve of his leadership to achieve the 70 percent penetration by 2023 through the licensing of the seven Infrastructure companies in the six geo-political zones of the country and Lagos as a region.
‘‘We are poised to drive broadband penetration with 120,000 kilometres target by 2023 through the licensed seven Infracos,’’ he assured.
The Director General of the National Information Technology Development Agency (NITDA), Isa Ibrahim Pantami, during his remarks at the conference, expressed optimism about increased growth in the sector and assured the minister that the sector is determined to build on the legacies he is leaving behind as an achiever. He added that a lot has been achieved in the sector, especially the contribution to the GDP and improvement in service delivery and regulation.
Also in his remarks, the Post Master General of the Nigerian Postal Services, (NIPOST), Bisi Ade lauded the minister for his enormous support to the ministry and its agencies during his time, assuring him that NIPOST will continue to explore novel technologies to return the agency back to the state of reckoning.
‘‘We have leveraged on existing technologies to reform the NIPOST. We are committed to deploying these technologies to reach every part of the country with postal services and to outside the country.’’
