Nigeria Telecoms Sector Contributes N15trn To Economy

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. . . . Etisalat investors meet CBBy CHIMA AKWAJA, Lagos
Executive vice chairman, Nigerian Communications Commission (NCC), Professor Umaru Danbatta yesterday confirmed that the Nigerian telecommunication sector has so far contributed about N15 trillion to the Nigerian economy since the liberation of the sector and inception of digital mobile communications nearly 17 years.
Danbatta speaking in Lagos at a media parley said the telecommunications has been a major contributor to Nigeria’s gross domestic product (GDP), adding between N1.4 trillion to N1.5 trillion on a consistent basis in the last one and half years. It has also contributed about nine per cent to the GDP in quarter one of 2017. This he attributes to level sound regulation, provision of playing field for all players which has continued to attract both local and foreign investments.
Speaking on the remaining eight slots of the 2.6 GHz spectrum which first auction took place last year June, Danbatta said the regulator would soon announce a new winners of the spectrum as it is nearing the conclusion of a process that would see to the sale of the remaining slots.
According to him, after MTN Nigeria paid $96 million for the six slots of the 2.6GHz spectrum, the Commission embarked on a post-mortem to find out why other mobile network operators (MNOs) did not effectively participate in the auction.
“We discovered that the reserve price per slot was on the side. Among the recommendations is that whenever we are conducting another sale for the remaining slots of the spectrum, the slots would be sold at the old exchange rate that prevailed during the first auction. In that way, we would cushion the effects of the foreign exchange on the operators. That means, if it was sold at N200 per dollar, the rate would be used for the remaining 2.6GHz spectrum auction,’’ he said.
The EVC said the Commission has gotten a licenced mobile network operator that is interested in six out of the remaining eight slots of the 2.6GHz spectrum. This follows a careful analysis of the post-mortem review which made NCC to write to the telecom operators to show interest in the remaining 2.6HGz spectrum.N, banks