Telcos contributes 10% to country’s GDP in Q1 2019 – Buhari

President Muhammadu Buhari has said the telecommunications sector contributed 10 per cent to Nigeria’s Gross Domestic Product (GDP) in the first quarter of 2019.

While speaking at the 2019 Conference of African Telecommunications Regulators on Consumer Affairs (CATCO) “Empowering the Telecom Consumer in an Era of Technological Evolution”, taking place in Abuja, Buhari admonished the telecommunications industry to play bigger roles in economic growth and development in Africa.

Buhari, who was represented by the Chief of Staff to the Secretary to the Government of the Federation, Polycap Shambo, advised regulators to be concerned about the effects of the technological changes on the customers.

“Indeed these technologies have created a borderless world with a powerful impact on the lives of millions of telecoms consumers, regardless of how remote they are physically located,” he said.

“But we must be aware that these technologies present enormous opportunities for the consumers on one hand and may constitute threats to consumers on the other hand, especially if left improperly regulated,” he said.

The president noted that technological evolution has changed interactions among nations. “Globally, it has facilitated innovations in various sectors of the economy, bringing a lot of efficiency in service delivery, he said.