The telecommunications industry has contributed $70 billion to Nigeria’s economy, The Punch newspaper reported, citing Nigerian Communications Commission Executive Vice Chairman, Umar Danbatta.

He said that the industry has provided over 500,000 jobs in the public and private sectors.

Nigeria’s adoption of digital technologies has enabled it to diversify its revenue and economy, created jobs, improved services and efficiency, reduced wastages, and optimised resources available, the official said.

The liberalised telecommunications sector has brought instant messaging, instant information, financial inclusion, telemedicine, smart farming, e-commerce, and virtual learning, Danbatta stated.

In May, the Nigerian Communications Commission (NCC) said it was hopeful that 5G services would be available by Q4 2022.

With the successful auction of the 5G spectrum last year, Usman Aliyu, Head, Spectrum Administration, NCC, said Nigeria had become the first country in Africa to successfully conduct a full 5G spectrum auction and the first software auction to be conducted since 2001.

(Editing by Seban Scaria seban.scaria@lseg.com)