The important role played by the Nigerian Communications Commission (NCC) in consistently spearheading and ensuring effective regulation on issues bordering on telecoms networks standardisation as well as promoting the provision of improved services at fair and affordable prices to Nigerians has again been proven in Nigeria’s economy.
Statistics from the National Bureau of Statistics (NBS) has shown that in the second quarter of the year 2020, the telecoms sector by 18.10 per cent while in general, ICT contributed 17.83% to the country’s Gross Domestic Products (GDP).
This represent an increase of 8.39% and 6. 76% when compared with 9.71% telecoms growth in Q1 2020 and 11.34% in Q2 2019 respectively and its impact to Nigeria’s GDP.
The telecoms industry has leveraged Nigeria’s robust population, currently at over 200.0 million people, with total subscribers inching close to 196.4million in June 2020 from 2.3m in 2002, reflecting an 18-year CAGR of c.27.7%.
The boom in the sector has also been driven by massive investment, which has supported the deployment of network infrastructure across Nigeria while intense competition has led to the affordability of services.
The telecoms market is mainly oligopolistic, dominated by four players (MTNN, AIRTEL, GLOBACOM and 9MOBILE).
It is to be recalled that the increase in demand for mobile and data services became inevitable during the lockdown period, as the need for efficient internet service became prevalent with virtual meetings, work from home, video conferences, e-commerce and online religious activities.
There is no question that telecommunications and digital services becomes crucial for many people across the world coping with the COVID-19 pandemic.
In one of its study, Deliotte noted that the telecommunications industry in Nigeria is one that can currently be described as self-aware and steadily adapting to the stark realities of business – changing trends, intense rivalry, regulatory uncertainties.
Experts also stated that the effective regulation of the nation’s telecommunications industry has made the sector a major contributor to the nation’s economic growth and development.
According to the Nigerian Communications Commission (NCC) Executive Vice Chairman, Prof Umar Danbatta, the liberalisation of telecoms sector which started 19 years ago has triggered tremendous growth.
Danbatta stressed that the Commission is irrevocably commitment to using telecoms to support the policies of the Federal Government, particularly to improve the economy, enhance security of lives and property and to fight corruption in our society.