FG targets 22% telecoms contribution to GDP by 2027
…Eyes 15% year-on-year investment in telecom sector, 100% growth in revenue
The Federal Government has revealed that it is targeting 22 percent contribution from the telecom sector to Nigeria’s Gross Domestic Product (GDP).
Earlier, the sector in Nigeria in the first quarter 2023, delivered a handsome N2.508 trillion in terms of financial value contribution to the nation’s gross domestic product (GDP), representing 14.13 percent.
Figures released by the National Bureau of Statistics (NBS) showed that the sector recorded a 4.3 percent increase from its performance in the last quarter of 2022 when it recorded 13.55 percent.
When compared on a year-on-year basis, the growth showed a positive progression from 12.94 per cent in the first quarter of 2022, to the 2023 figure of 14.13, which is an approximate growth of 9.19 percent.
The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani made this ambitious targets known yesterday.
The targets were part of the Ministry’s blueprint for 2023-2027 tagged “Accelerating our collective prosperity through technical efficiency.”
According to Dr Tijani, “President Tinubu’s Renewed Hope Agenda has at its core, a recognition of the power of technology and innovation as enablers of economic growth and development. It is a call for us to take advantage of the opportunities presented to us with a spirit of determination and conviction.
“This Strategic Blueprint is a detailed and progressive framework that encompasses five key pillars: Knowledge, Policy, Infrastructure, Innovation, Entrepreneuship & Capital (IEC) and Trade. Each pillar is integral to our mission and interconnected with others, forming the foundation of our strategy.
“As we embark on this transformative journey, we do so with an unwavering sense of purpose. We understand that the road ahead may be challenging, but it is through these challenges that we find the impetus to evolve and adapt. Together, we will harness the power of technology to elevate Nigeria’s standing on the global stage, create sustainable employment opportunities and improve the quality of life for all Nigerians.
“I extend an open invitation to all stakeholders, both within and outside government, to unite in this collective endeavour. It is our shared vision, ambition and commitment that will drive us towards a Nigeria that not only embraces the digital age but leads it,” he said.
The Minister also revealed that he is aiming to enact a National Digital Economy Bill.
According to him, the bill is designed as an ‘omnibus bill’ to provide a legal framework for electronic transactions, technical components of digital signatures and Public Key Infrastructure (PKI), e-government, replacement of paper procedures and selected contracts by
digital means.
“The Digital Economy Law will provide an enduring framework, enabling Nigeria to rapidly pivot to digital platforms and provide impetus for reforms to drive e-commerce, digital service delivery and e-governance.”
