Perhaps you have no idea that each time you buy airtime from any of the telecommunications companies or subscribe to broadband networks, you are contributing to the economy.

Well, your money has not been to waste as the telecommunications sector contributed 1.6 trillion to Nigeria’s Gross Domestic Product in the second quarter of 2017.

This means that a huge chunk of the total cost of goods and services produced in Nigeria comes from the telecommunication sector.

The Executive Vice Chairman of Nigeria Communication Commission, NCC, Prof. Umar Danbatta, disclosed this this when he visited the Minister of the Federal Capital Territory Administration, Mr. Mohammed Bello, in Abuja.

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On an annual basis, the NCC boss said telecommunications and Information Technology had been contributing about 10% to the country’s GDP.

According to the NCC helmsman, the country recorded Internet users numbering 92 million as of the end of June.

Danbatta predicted that the broadband penetration in the country would hit 30% by the end of 2018, adding that this would boost the number of Internet users.

The telecommunications, he added, had attracted more than $68 billion in private sector investment since 2001.

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