Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
  • Economy
    • Macro-Economic News
    • Get Data
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
  • Economy
    • Macro-Economic News
    • Get Data
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home General News Business News

$32 billion invested in Telecoms in the past 5 years – NCC

William Ukpe by William Ukpe
November 12, 2020
in Business News, General News
NCC instructs telcos to roll over customers internet data

Umar Danbatta Executive Vice Chairaman, Nigerian Communications Commission

Share on FacebookShare on TwitterShare on Linkedin

The Nigerian Communications Commission (NCC) announced that Nigeria’s telecoms sector had received investments valued at $32 billion since 2015.

According to PUNCH, the Commission stated this in a statement issued in Abuja by its spokesperson, Ikechukwu Adinde, while announcing the recognition of NCC’s Executive Vice Chairman, Umar Danbatta, at this year’s edition of the Nigeria Tech Innovation and Telecoms Awards for his role in advancing broadband development.

READ: Ministry of Health to launch electronic system for National Health Insurance Scheme

In the new report, the NCC disclosed that investments in the telecoms sector grew from $38 billion to $70 billion in 5 years.

“In the last five years, telecoms investment grew from around $38bn to over $70bn currently, with appreciable remittances in spectrum fees and operating surplus by the NCC into the Federal Government Consolidated Revenue Fund,” the NCC said.

READ: Nigerian Railway Corporation announces revenue of N1.4 billion in 2020

They added that Nigeria’s broadband penetration in the same period increased from 6% in 2015 to 45.43%  by September 2020, while active internet subscriptions rose to 143.7 million from 90 million.

What you should know

Nigeria’s telecoms sector has been a stand-alone performer despite the challenging business climate in Nigeria. The last published GDP report which disclosed Nigeria’s Gross Domestic Product (GDP) contracted by 6.1% in the second quarter of 2020.

READ: FG to spend N447.6 billion on Police in 2021

Telecommunications, which is a sub-sector under the Information and Communication sector, reported an 18.1% GDP growth rate in the second quarter of the year and is one of the fastest-growing sectors in the country. The sector nearly doubled the 9.71% GDP growth rate recorded in the first quarter of 2020.

Nairametrics also reported last week that the NCC contributed to the revenue drive of the Federal Government, by generating and remitting N344.71 billion to the Consolidated Revenue Fund (CRF) in the last five years.

Related

Tags: NCCNigerian Communications Commission

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Access Bank
Bankers Committee
Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Zenith CEX
Kwakol Markets
First bank





    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Bullish stance on the local bourse drives daily gains up by N298 billion
    • Access Holdings Plc to acquire majority stake in First Guarantee Pension Limited
    • Okada ban: Police commissioner says mobile court will try defaulters

    Follow us on social media:

    Recent News

    Access Bank pays N120 million to Herbert Wigwe as salary in 2021

    Access Holdings Plc to acquire majority stake in First Guarantee Pension Limited

    May 19, 2022
    Lagos embarks on clampdown of Okada riders in Lekki, to continue tomorrow

    Okada ban: Police commissioner says mobile court will try defaulters

    May 19, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
    • Economy
      • Macro-Economic News
      • Get Data
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com