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Nigeria’s Telecoms Industry GDP Contribution Drops by 3.85%

The contribution of Nigeria’s telecoms industry contribution to the nation’s Gross Domestic Production (GDP), has suddenly crashed from 15.00% in the second quarter of 2022 to 12.85% in third quarter of same year.

The contribution of the telecoms industry to the nation’s GDP has been on continuous rise since 2012 beating all odds even during the COVID-19 pandemic era, a development that had become an song of commendation for the Nigerian government.

In latest statistics released by the telecoms regulatory agency, the Nigerian Communications Commission (NCC), and sighted by TechnologyMirror, the NCC in its quarterly report stated that the GDP had moved from 12.94% in the first quarter of 2022 to 15% but then fell to 12.85%.

The report however revealed that that the teledensity has maintained its rise 111.17%, 112.47%, 109.99% 109.47% from June 2022 to October 2022 respectively until reaching 114.07% last November.

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