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Tech, telecom contribute 10 percent of Nigeria's GDP, ICT minister says

Olusegun Abolaji Ogundeji | Dec. 17, 2014
The information and communications technology sector has almost doubled its contribution to Nigeria's GDP in the last three years and is expected to be a main driver of economic growth, according to the country's ICT minister.

Investors in the Nigerian ICT sector will get "an opportunity to participate in the fastest growing economy in the world," Johnson said.

Government efforts to spur the tech sector include the licensing of infrastructure companies, expected to provide efficient wholesale bandwidth services on a non-discriminatory, open access and price-regulated basis, and increased investments in ICT infrastructure through spectrum auctions including those held in the first quarter this year and those expected in the first quarter of 2015.

Other government initiatives include Universal Service Provision Fund subsidies for areas unserved or under-served by telecom services, and the development of legislation such as the Critical Infrastructure Bill, aimed to ensure the protection of infrastructure from damage, and the Cybercrime Bill, presently under parliamentary review, meant to instill confidence in people as they go online.

 

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