Home Big Story Telcos add N1.3 trillion to Nigerian economy in Q1 2015

Telcos add N1.3 trillion to Nigerian economy in Q1 2015

Telcos add N1.3 trillion to Nigerian economy in Q1 2015
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The telecoms sector contributed over ₦1.3 billion representing 8.38% of total economic output of the Nigerian economy in the first quarter of 2015, according to a new government market information.
According to preliminary statistics released by the National Bureau of Statistics (NBS) and the Nigerian Telecommunications Commission (NCC), the number saw a marginal decline from the previous year.
This, according to the report titled “The Nigerian Telecommunications Sector Q1 Summary Report,” is a marginal decline from the 2014 average contribution of 8.46%.
The opening quarter of 2015 recorded a real growth rate of 5.36%, a rise of 0.61% points from the 2014 average growth rate, which was 4.75%.
The report also revealed that the share of the telecommunications sector in real GDP has fluctuated between a relatively narrow margin between 2010 and the first quarter of 2015. This peaked at 9.32% in the first quarter of 2010 and reached a low of 7.68% in third quarter of 2012.
Nonetheless the annual averages have shown steady marginal declines; from 9.03% of real GDP in 2010, it declined to 8.68% in 2011, with marginal declines of 0.04% points in 2012, 0.07% points in 2013 and 0.11% points in 2014.
The report also shows that a total of 143,057,324 subscribers were registered with GSM technology to the four networks of MTN, Etisalat, Globacom and Airtel as of April 2015.
MTN topped the number of subscriptions with 61,218,803 subscribers representing 42.84% of the total subscription base. Globacom followed with 21.00%, whilst Airtel was third most at 20.48% and Etisalat was fourth with 15.69%.

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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929

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