This report addresses the challenges hindering the growth and development of the telecommunications industry and the crucial role of the mobile sector in Nigeria’s economic development.
Connectivity to mobile services, including Mobile Money is the foundation on which digitalization is built. The Mobile Network Operators (MNOs) are committed to investing to support the realization of the digitalization ambitions that will unlock economic growth and development in the country.
The mobile sector accounted for 13.5% of total GDP in 2023, including the direct value-added by wider ICT industries and the sector’s impact in enhancing the productivity of other sectors. Overall, the mobile sector’s total contribution to GDP is estimated at 33 trillion NGN in 2023, with 2.4 trillion NGN in tax revenue contributions.
A thriving digital economy would have a material impact on the economy of Nigeria over the next 3-5 years. It is estimated that increased digitalization in agriculture, manufacturing, transport, trade and government will increase GDP by around two percentage points by 2028.
This would also create nearly 2 million jobs and raise an additional NGN 1.6 trillion in tax revenue.