Nigerian Telecommunication Company Increased growth in GDP

According to the National Bureau of Statistics (NBS) weekend said that the telecommunications sector contributed N 1,385.85 billion to Gross Domestic Product (GDP) in the third quarter of 2015, adding that the subscriber base of service providers rose by 16.15 million.

The NBS report stated that “In September 2015, at the end of the third quarter, there were a total of 148,427,423 GSM subscribers divided across the four networks of Airtel, Etisalat, Globacom and MTN.

This figure is slightly 0.19 per cent lower than in August when there were 148,703,160 subscribers, the first monthly decline since July 2014.

The growth in the telecom sector is much higher than the over all growth in the economy. The annual growth rates recorded in the second and third quarters of 2015 were 4.66 per cent and 4.69 per cent respectively, lower than the 6.15 per cent and 6.25 per cent recorded in the same quarters of 2014.

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Source: Vangaurd