ICT sector records 11.89% growth between Jan and Sept

The Lagos Chamber of Commerce and Industry (LCCI) has described the Information and Communication Technology (ICT) as the largest driver of growth in the services sector. It noted that growth in the ICT space was driven by the telecommunication industry, which grew 11.89% between January and September. The Director General of the Chamber, Muda Yusuf […]

The Lagos Chamber of Commerce and Industry (LCCI) has described the Information and Communication Technology (ICT) as the largest driver of growth in the services sector.

It noted that growth in the ICT space was driven by the telecommunication industry, which grew 11.89% between January and September.

The Director General of the Chamber, Muda Yusuf in the LCCI 2019 Economic Review and Outlook for 2020 pointed out that the sector expanded 9.88% in third quarter from 9.48% and 9.01% with growth averaging 9.46% in the first nine months.

This stellar performance, according to him, can be attributed to improvement in telecommunication active lines and subscriber base.

“Official data by Nigerian Communication Commission (NCC) showed that number of active lines grew 4percent to 180million from 173million in January while the number of connected lines trended higher to 267million in October, up from 250million in January.

“Nigeria has the largest mobile market in Sub-Saharan Africa, supported by improved international connectivity albeit minimal fixed broadband infrastructure and connectivity in the rural areas is leaving a large chunk of the most marginalized segments of the population without access according to the World Bank’’, he said.