Mobile ecosystem adds N3.13tr value to economy, says Shittu

• LCCI chief wants govt to diversify into ICT

Nigeria’s mobile ecosystem has added about N3.13 trillion ($10) billion value to the growth of the economy in the last few years.

Minister of Communications, Adebayo Shittu, who revealed this figure yesterday at the 2016 Information Communication Technology & Telecommunication Expo (2016 ICTEL EXPO) organized by the Lagos Chamber of Commerce and Industry (LCCI), said that with the upsurge in telephone density across the technology platforms, the sector has impacted substantially on the growth of the economy.

Shittu said ICT is the only sector that has recorded a positive growth of about 10 per cent in the first quarter of this year and it has become a major contributor to the nation’s GDP.

The minister said that the mobile ecosystem currently contributes over $10 billion in value addition to the Nigeria economy and that mobile services have the potential to enable Nigerians to benefit from the exchange of information for business and social needs for increase productivity.

Shittu said the global quest for ICT for development is enormous to both developed and developing countries because technology skills are critical to the success of enhancing national development in a globalised era.

“In this regard, our government is focused on creating opportunities for citizenship participation in ICT training, knowledge and skills acquisition, and general application and usage of ICT tools to solve problems, promote their wellbeing and enhance national growth.

“No doubt, with the dwindling revenue from the oil and gas sector, the Federal Government has realized more than ever before that telecommunication and ICT are amongst the main drivers for the social and economic development of Nigeria and play a vital role in enhancing access to basic services in all sectors of our national life,” he added.

Charging the organisers of the event, the minister enjoined the President of LCCI, Mrs. Nike Akande, to continue to connect businesses and create opportunities for Nigerians in the ICT sector as the nation strives to diversify its economy from the non-oil sector.

In response, Akande observed that there was no better time to harness the benefits of ICT than now, when the Nigerian economy is in dire need of diversification. She stressed that ICT is strategic in driving productivity and efficiency in all sectors of the economy.

According to her, virtually all sectors of the economy leverage on ICT for optimal performance as “this is evident in the financial service sector, where electronic banking is now in vogue, the agricultural sector, where government now allocates fertilizer through mobile phones to farmers; the consumer goods sector where online stores and eCommerce have brought incredible transformation to retail business and many more. ICT has become the backbone of businesses.”