NCC’s Maida confident in telecom sector’s continued investment potential, aims for 25% GDP contribution

Dr. Aminu Maida, the Executive Vice Chairman and Chief Executive Officer of the Nigerian Communications Commission (NCC), has expressed strong confidence in the telecom sector’s ability to continue attracting significant investment.

Despite the economic challenges facing Nigeria, the telecom sector has remained a key driver of growth, contributing 14.58% to the country’s Gross Domestic Product (GDP) in the first quarter of 2024, up from 14.13% during the same period in 2023, according to the latest industry statistics released by the NCC.

Speaking at a reception held in his honor by the Association of Telecommunications Companies of Nigeria (ATCON) in Lagos, Dr. Maida praised the sector’s growth while acknowledging the numerous challenges it faces.

He emphasized that both the NCC and the Ministry of Communications, Innovation, and Digital Economy, under the leadership of Dr. ‘Bosun Tijani, are committed to ensuring the long-term sustainability of the telecom industry and addressing critical operational issues, including the protection of infrastructure.

“I think even the president realizes the importance of digital infrastructure to the future of Nigeria,” said Dr. Maida. He assured that the Commission and the Ministry are focused on implementing policies that will enhance the telecom sector’s contribution to the GDP, with an ambitious target of reaching a 25% contribution.

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During the event, Dr. Maida highlighted the close collaboration between himself and the Minister of Communications, Innovation, and Digital Economy. “Myself and the Minister are working very closely to ensure sustainability for an industry that has done so well for the country with a 14% GDP contribution. We believe we can achieve 25% and above, and work is ongoing in that regard with the Ministry,” he stated.

Mr. Tony Izuagbe Emoekpere, President of ATCON, assured Dr. Maida of the industry’s support in tackling the challenges facing the telecom sector. He presented a list of issues requiring intervention by the NCC, including a review of telecom service prices to reflect rising inflation, which the regulator has yet to permit.

Dr. Maida responded positively to these concerns, indicating that the Commission would look into the matter. “There is a lot of work to be done, especially in addressing challenges faced by Mobile Network Operators (MNOs) and Original Equipment Manufacturers (OEMs) for long-term sustainability,” he told ATCON members during the reception.

As the NCC under Dr. Maida’s leadership continues to navigate the evolving landscape of Nigeria’s telecom sector, there is a shared optimism that strategic initiatives and close cooperation with industry stakeholders will drive the sector towards even greater contributions to the nation’s economy.