Data from Nigeria’s National Bureau of Statistics (NBS) reveal that the telecoms industry in the country contributed NGN 1.34 million trillion or 8.38% to its GDP in the first quarter of 2015, a marginal decline from the Q1 2014 average contribution of 8.46%.

The NBS telecommunications sector summary report for Q1 2015 [PDF] states that the sector recorded a real growth rate of 5.36%, a rise of 0.61% points from the 2014 average growth rate, which was 4.75%.

An earlier report on Business Day says Nigeria’s ICT sector is experiencing a more robust growth compared to South Africa and Kenya. Nigeria’s ICT sector is recording a 10.3 percent compound annual growth rates (CAGR) in 2014, way ahead of South Africa on 6.5 percent and Kenya on 9.5 percent, according to the report.

The collective subscriber base among telcos in Nigeria has grown from 2.27 million in 2002, to 143.05 million in the first quarter of 2015 with mobile penetration at 96% of the population.

[Update 12:32]: An earlier version of the story reported NGN 1.34 million in GDP contribution. 

Photo Credit: kevinspencer via Compfight cc

Gbenga Onalaja Author

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