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Nigeria: Telecoms ‘maintains N10 trillion quarterly addition to GDP’

Nigeria: Telecoms ‘maintains N10 trillion quarterly addition to GDP’
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The Nigerian telecoms industry maintained over N10 trillion in quarterly additions to the country’s Gross Domestic Product (GDP) in 2019, the telecoms regulator says.

Otunba Olabiyi Durojaiye, Chairman, Governing Board of the Nigerian Communications Commission (NCC), dropped the hint while listing key achievements of the board and management of telecoms industry regulatory agency in his welcome remarks at the 2019 Board Retreat of the Commission being held at Bristol Palace Hotel, Kano.

Durojaiye says NCC had in 2019 maintained the steady overall contribution amounting over N10 trillion quarterly to Nigeria’s quarterly, while the Commission continue to engage external stakeholders “including various agencies and departments of government to ensure greater collaboration to sustain the growth of the telecom sector.”

NCC Board Chairman says that the Commission guided the successful takeover of Etisalat Nigeria by Teleology Limited “to prevent the collapse of the operator and ensure continuity, job protection and also strengthen investor’s confidence in the industry.” Otunba Olabiyi Durojaiye, Chairman, Governing Board of the Nigerian Communications Commission (NCC)

Nigeria: Telecoms ‘maintains N10 trillion quarterly addition to GDP’
Professor Umaru Garba Danbatta speaking to Media Executives at the breakfast meeting in Lagos

According to him, 2019 has been a successful year under the firm guidance of Professor Umar Danbatta, the Chief Executive Officer, and the distinguished executive commissioners.

On infrastructure drive, Durojaiye said, there has been immense broadband infrastructure expansion through approvals of licensing of Infrastructure Companies (INFRACOS) in various geo-political zones of Nigeria.

“The NCC has also strengthened the industry corporate governance standards through the Board’s commitment and active participation at sensitisation workshops for stakeholders which held in different geo-political zones.”

On the issue of corporate governance, the NCC Board Chairman says that the Commission guided the successful takeover of Etisalat Nigeria by Teleology Limited “to prevent the collapse of the operator and ensure continuity, job protection and also strengthen investor’s confidence in the industry.”

He further stated that earlier, the Board of the NCC supported the strategic objectives of the Commission in declaring 2017 the ‘Year of the Telecom Consumer’ and subsequently backed different initiatives to protect, inform, empower and educate consumers. Durojaiye stated that the foregoing continued to have positive impact on the industry.

The Chairman also said that the Board, which has recently been reinvigorated with five new commissioners, is poised to give far-reaching support and policy direction to the Management of the Commission towards delivering on its mandates, as enshrined in the Nigerian Communications Act (NCA) 2003.

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