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Telecoms Sector Soars, Adds N1.398Trillion to GDP in Q3 2016

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With a contribution of nearly N1.4 Trillion (1.11 percent growth in the real term) to the Gross Domestic Product (GDP) in the third quarter of 2016, the telecommunications sector still remains the toast of the economy.

Reports released on November 21, 2016 by the National Bureau of Statistics (NBS) state that telecommunications contributed N1.398Trillion representing 1.11percent addition to the GDP. Although this figure is slightly lower than the N1.5 trillion recorded in quarter 2 of 2016, the NBS says the figures reflect the signs of the times.

The GDP for Telecommunication as at Q3 of 2016 under Information and Communication contracted 0.95% in Q3 2016 from 1.49% in Q2 2016 and 4.69% in Q3 2015.

The Information and Communication Sector contributed 9.9% to total Nominal GDP in third quarter of 2016, which is the same rate as recorded in the same Quarter of 2015, but lower than the 12.6% it contributed in the preceding quarter.

The sector grew by 1.11% in real terms, year on year in the Q3 of 2016 from the recorded rate in the period of 2015, which was 4.16% point lower and also lower by 0.25% points when compared with the rate recorded in the second quarter of 2016.

The International Standard Industrial Classification (ISIC Revision 4.0); is the international reference for the classification of productive activities. Its main purpose is to provide a set of activity categories that can be used for the collection and reporting of statistics.

Revisions of the ISIC on the Gross Output is based on the Revenue from telephone, telex, facsimile, telegraph and other income from satellite and internet services.  The Intermediate consumption while Transit fees, operational expenditure, minor repairs and maintenance and other expenses of the telecommunication and information services are recorded in the ISIC Report.

The Gross Domestic Product constant basic prices for information and communication under the Telecommunications and Information Service as at Q1 of 2015 is N1.3Trillion and Q2 of 2015 is N1.5Trillion and Q3 of 2015 is N1.3Trillion and Q4 of 2015 is N1.6Trillion which is a total of N5.9Trillion for the year 2015.

Mobile telephone subscription increased from 149million in Quarter 2 of 2016 to 153million as at September, 2016 (Q3) and teledensity now is 109percent.

There are currently five Mobile Network Operators(MNOs) viz Airtel Nigeria Limited, Etisalat Nigeria, Globacom Nigeria Limited, MTN Nigeria Communications Limited and NATCOM Consortium trading as ntel.

Fixed/Fixed Wireless Operators include IPNX, 21st Century Nigeria Limited, Glo Wired and MTN Wired in that order who have contributed to the growth of the sector meaningfully.

There is a new entrant, Smile Communications providing Voice Over Internet Protocol services among others.

In general terms, MNOs control about 99 percent market share while 0.2 percent is reserved for other operators.

Internet subscriptions rose from 31.1million in 2012 to 93.6million as at September, 2016 representing about 200% growth rate.

In terms of market shares by GSM operators or (MNOs), MTN controls about 40percent of the market with 60.5million active subscribers base.

Globacom has 36.9million subscribers while Airtel and Etisalat have 32.7million and 22.5million subscribers respectively.

With anticipated new investments in the areas of broadband Infrastructure in the next few months, the sector which already has about $68Billion total investments so far is likely to add more to the National GDP.


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Telecom

Konga Launches ‘Berekete Sales’ with Up to 50% Discounts Across Major Categories

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Nigeria’s leading composite e-commerce platform, Konga, has announced the launch of its highly anticipated Berekete Sales, a nationwide promotional campaign designed to deliver exceptional value to customers across key product categories.

Konga Launches ‘Berekete Sales’ with Up to 50% Discounts Across Major Categories

Konga Berekete

The initiative reinforces Konga’s commitment to affordability, accessibility, and innovation while strengthening its position as a trusted retail partner for millions of Nigerians.

The Berekete Sales campaign features discounts of up to 50% on high-demand categories including Home and Kitchen, Computing, Electronics, Beauty, and Personal Care.

Carefully curated to meet both everyday and aspirational needs, the campaign comes at a strategic period that coincides with Ramadan, Lent, and the approaching Eid al-Fitr celebrations, seasons traditionally associated with reflection, generosity, and family-oriented spending.

Speaking on the campaign, Victor Olaleye, Konga Group Head of Marketing, emphasised that the Berekete Sales initiative reflects the company’s understanding of the economic climate and the importance of value-driven retail experiences. “Berekete Sales is about delivering abundance in savings to our customers,” he stated.

“We recognise that this period is significant for many households observing Ramadan and Lent, and we want to ensure they can access premium products at competitive prices.

“Our goal remains to make quality products accessible while maintaining the seamless shopping experience Konga is known for.”

Among the standout offers is a special deal on the Starlink Gen 3 kit, now available at ₦550,000, reduced from its regular price of ₦590,000.

As the authorised distributor, Konga continues to provide customers with reliable access to the high-speed satellite internet solution, further strengthening connectivity options in Nigeria.

Activation services are available in select cities, ensuring a smooth transition to enhanced internet performance.

In addition, technology enthusiasts can take advantage of an exclusive offer on the Huawei Watch 3, with a special promotion that allows customers to receive two units for the price of one at ₦200,000.

This offer underscores Konga’s strategy of delivering premium lifestyle products with unmatched value.

The Berekete Sales campaign also extends to computing solutions, with attractive deals on ASUS laptops, catering to professionals, students, and businesses seeking performance-driven devices at competitive prices.

Furthermore, customers can pre-order the new Samsung Galaxy S26 Ultra on Konga and receive gift items worth over ₦500,000 from Samsung, a compelling incentive for early adopters and technology enthusiasts.

By aligning its promotional calendar with key religious seasons, Konga demonstrates cultural awareness while providing practical solutions for customers during Ramadan, Lenten observances, and Eid celebrations.

The campaign ensures that households can upgrade their living spaces, enhance productivity, and invest in quality lifestyle products without straining their budgets.

Beyond the discounts, Konga’s integrated ecosystem, spanning secure payment solutions, nationwide logistics, and reliable customer support, ensures a seamless shopping journey from browsing to delivery.

This operational strength continues to differentiate the brand within Nigeria’s competitive e-commerce landscape.

As consumer expectations evolve, Konga remains focused on delivering not just products but complete retail experiences anchored on trust, transparency, and value. The Berekete Sales campaign is positioned to drive significant traffic, boost sales volumes, and deepen brand loyalty across its growing customer base.

With substantial savings, premium product offerings, and time-sensitive deals, the Berekete Sales As the campaign gains momentum, customers are encouraged to visit Konga.com or any Konga retail store nationwide to take advantage of these limited-time offers.

With its blend of spiritual season sensitivity and high-tech accessibility, Konga continues to set the pace for the future of commerce in Africa.

 


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Sunil Bharti Mittal Conferred GSMA Lifetime Achievement Award for Transforming Global Telecommunications

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The GSMA has conferred a rare Lifetime Achievement Award on Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, recognising his role in reshaping the global telecommunications landscape and expanding connectivity across operators, governments, businesses and billions of consumers worldwide.

Bestowed on only a handful of industry leaders in the GSMA’s history, the honour recognises contributions that have left an enduring and defining mark on the global communications ecosystem.

The award was presented at Mobile World Congress in Barcelona in the distinguished presence of His Majesty Felipe VI, the Prime Minister of Spain, Pedro Sanchez, the President of Catalonia, Salvador Illa, and global industry leaders.

A visionary in the telecom sector, Sunil Bharti Mittal has built Bharti Airtel into one of the world’s leading mobile operators, with operations across India and Africa, ranking among the top three globally and serving over half a billion customers.

He pioneered the expansion of mobile services across emerging markets and served as Chairman of the GSMA from 2017 to 2018, where he championed policies that encouraged investment and innovation while strengthening the industry’s commitment to connecting the unconnected and advancing digital inclusion.

He was previously honoured with the GSMA Chairman’s Award in 2008 and again in 2016 for his outstanding contribution to the growth and development of the global mobile industry and was felicitated at Mobile World Congress in February 2019 in recognition of his Chairmanship.

On receiving the award, Sunil Bharti Mittal said, “I am deeply honoured to receive this recognition and sincerely thank the GSMA for this award. I accept it not only as a personal milestone, but as a tribute to India’s telecom journey, the collective spirit of Bharti, and the rise of Indian telecom companies on the global stage.

Equally the award reflects the progress of an industry that has connected billions and belongs to the customers we serve, the teams who built our institutions, and the partners who believe in the transformative power of connectivity.

Telecommunication is a force that expands opportunity, places essential services in the palm of every individual and unlocks human potential. Helping shape its evolution into a powerful accelerator of modern progress has been a privileged responsibility. As innovation accelerates, we will continue to work with our partners & stakeholders to ensure that growth advances equity and creates lasting opportunity for generations to come.”

The Lifetime Achievement Award is a rare honour, bestowed only on select individuals whose leadership and innovation have left an enduring mark on the industry.

 


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House Probes Fintech Regulation via Public Hearing on New Commission Bill

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House of Representatives is pushing to regulate Nigeria’s fintech sector through a public hearing on “A Bill for an Act to Establish the Nigerian Fintech Regulatory Commission and for Related Matters (HB.2389).”

House Probes Fintech Regulation via Public Hearing on New Commission Bill

Speaker Tajudeen Abbas opened the hearing, stressing the need for stakeholder inputs to craft enforceable, constitutional laws addressing regulatory overlaps in digital banking, science, technology, and communications.

Abbas highlighted fintech’s role in Nigeria’s growth via digital payments, blockchain, crowdfunding, and financial inclusion for the unbanked, creating jobs and supporting SMEs under President Tinubu’s Renewed Hope Agenda.

He warned that lagging regulations cause fragmentation, compliance issues, and investor uncertainty, necessitating a coordinating commission for licensing, supervision, standards, and a level playing field without duplicating bodies like the Central Bank of Nigeria (CBN), SEC, NITDA, or NDIC.

The commission would protect consumers, monitor cybersecurity, ensure data privacy, and promote education while complementing existing regulators.

Committee Chairman Emmanuel Ukpong-Udo, overseeing digital banking, banking regulations, science, technology, communications, capital markets, and institutions, called the bill vital for harmonizing oversight amid Nigeria’s rise as Africa’s fintech hub with 430+ firms valued at billions.

Ukpong-Udo emphasized balancing innovation, stability, and coordination to avoid burdens on startups.

Bill sponsor Fuad Kayode Laguda argued the commission would streamline operations currently split among CBN, SEC, NITDA, NOTAP, and FIRS, boosting profitability, user security, and ease of business. He cited 2024-2026 stats: 250-430 firms, $230 billion market projection, $10.6 billion valuation for top nine, and $1.6 billion in mobile transactions.

Fintech stakeholders offered mixed views, with some backing unified regulation and others fearing overlaps with current mandates.


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