Telecoms Sector Adds N1.4 Trillion to GDP in Third Quarter 2016

By November 29, 2016 Investment News

The Nigerian Communications Commission (NCC) says the Nigeria’s telecommunications sector added N1.398 trillion (1.11 per cent)growth in the real term to the Gross Domestic Product (GDP) in the third quarter of 2016.

NCC, in a statement by its Director of Public Affairs Tony Ojobo, yesterday, said though the figure was slightly lower than the N1.5trn recorded in quarter 2 of 2016, the sector still remained the toast of the Nigerian economy.

The sector grew by 1.11% in real terms, year on year in the Q3 of 2016 from the rate in 2015, which was 4.16% point lower and also lower by 0.25% points when compared with the rate recorded in the second quarter of 2016, Ojobo said in the statement.

“The GDP constant basic prices for information and communication under the Telecommunications and Information Service as at Q1 of 2015 was N1.3 trillion and Q2 of 2015 was N1.5 trillion and Q3 of 2015 was N1.3 trillion and Q4 of 2015 was N1.6 trillion which is a total of N5.9 trillion for the year 2015,” he said.

The NCC spokesman said mobile phone subscription increased from 149 million in quarter 2 of 2016 to 153 million as at September, 2016 (Q3) and teledensity now is 109%.

Internet subscriptions in Nigeria, he said, rose from 31.1 million in 2012 to 93.6 million as at September, 2016 representing about 200% growth rate.

In terms of market shares by GSM operators or (MNOs), MTN controls about 40 percent of the market with 60.5 million active subscribers base with Globacom having 36.9 million subscribers.

Source: <All Africa>