Answer:
Step-by-step explanation:
Nigeria’s information and communications technology (ICT) sector stayed relatively active in 2020 as most of the nation’s industries embraced virtual work conditions. Data from the Nigerian Communications Commission (NCC) shows that telecommunications contributed as much as 12.45% to the GDP in the last quarter of 2020, up from 10.60% in the same quarter of the preceding year. This growth is attributable to increased demand, several years of policy implementation, and investment drive in the sector.
Nigeria is regarded as Africa’s largest ICT market with 82% of the continent’s telecoms subscribers and 29% of internet usage. Sub-Saharan Africa is also projected to be the fastest growing region with a compound annual growth rate (CAGR) of 4.6% and an additional subscriber enrollment of over 167 million in the next five years. Nigeria is expected to account for over 55% of this. The NCC estimates that the country has about 76 million subscriptions on broadband (penetration of 40%) and 187 million lines in the voice segment as of May 2021, representing 97.9% teledensity.
The government of Nigeria (GON) recognizes ICT as the enabler for developing other critical sectors including education, healthcare, agriculture, and manufacturing. In its drive to diversify the economy from oil and gas, the GON is encouraging partnerships between local ICT companies and foreign investors. To promote these partnerships and grow an entrepreneurial ecosystem in the technology sector, GON has supported creating government- or private-sector led incubator hubs, youth innovation programs, and science technology parks.