Dr. Ekuwem, who spoke recently on the future of digital connectivity in Nigeria, described the nation’s telecom sector as “a goldmine waiting to be fully exploited.”

He noted that while Nigeria has made significant progress in mobile telephony, broadband penetration, and digital service delivery, the real potential of the sector lies in deepening infrastructure, driving innovation, and expanding access to rural and underserved communities.

“The telecom industry in Nigeria is still 85 percent untapped. The potential is humongous,” Dr. Ekuwem declared. “What we’ve seen so far is only scratching the surface. There are vast opportunities in broadband, fibre deployment, data centers, Internet of Things (IoT), artificial intelligence (AI), fintech integration, and e-governance that are yet to be fully realizlsed.”

He explained that true economic transformation will depend on how Nigeria leverages technology to enhance productivity, improve education and healthcare delivery, and enable efficient governance.

According to Ekuwem, Nigeria’s youthful population, combined with its growing appetite for digital services, places the country in a prime position to lead Africa’s digital economy, if the right policies, investments, and collaborations are sustained.

“We have the market, we have the people, and we have the creativity. What we need now is deliberate investment in digital infrastructure, capacity building, and policy consistency,” he emphasised.

The ICT veteran urged the Federal Government, industry regulators, and private operators to prioritize last-mile connectivity, indigenous innovation, and digital inclusion to unlock the sector’s full value chain.

Dr. Emmanuel Ekuwem also highlighted the importance of local content development in telecommunications, noting that Nigeria must move from being a consumer of imported technology to becoming a producer of digital solutions that can serve both domestic and regional markets.

He concluded that with the right mix of policy support, investment, and innovation, the telecom sector could contribute more significantly to the Gross Domestic Product (GDP), create millions of jobs, and position Nigeria as a continental technology hub.

“If we commit to this journey, the next decade will define Nigeria’s place in the global digital order,” he said.

The report highlighted inflation as one of the most pressing challenges facing Nigeria’s economy in the short term, driven by exchange rate depreciation, high energy and food costs, and ongoing structural reforms.

Also, Tuesday, Nigeria approved a fresh $500 million replenishment of the Nigeria Trust Fund (NTF) at AfDB, extending the facility for another 15 years.

Dr. Akinwumi Adesina, President of the AfDB, announced this during his opening remarks at the ongoing AfDB Annual Meetings in Abidjan, as he expressed appreciation to President Bola Ahmed Tinubu and Vice President Kashim Shettima for their continued support.

Also, António Guterres, the secretary-general of the United Nations, praised Adesina, for his transformative leadership and unwavering commitment to Africa’s development over the past decade.

The AEO report also projected that monetary tightening, improved agricultural output, and easing global supply constraints could contribute to a notable drop in inflation by 2026.

However, the bank warned that further fiscal and structural adjustments would be critical to sustaining disinflation.

On the growth front, Nigeria’s real Gross Domestic Product (GDP) was projected to expand by 3.2 per cent in 2025, slowing slightly to 3.1 per cent in 2026.

This reflects a downward revision of 0.3 and 0.5 percentage points, respectively, from earlier AfDB forecasts.

The weaker outlook was attributed to global economic headwinds, reduced external demand from key partners like the U.S. and China, and lingering uncertainty in financial markets.

Despite these challenges, the bank noted that improving oil output and increased local refining capacity—especially with the ramp-up of the Dangote refinery—have helped strengthen Nigeria’s external position.

The country’s current account surplus, which stood at an estimated 9.2 percent of GDP in 2024, was forecast to moderate to 4.7 per cent in 2025, and 3.9 percent in 2026 as global conditions tighten.

Nigeria’s fiscal deficit was projected to remain elevated, at four per cent of GDP in 2025 and –4.2 per cent in 2026, underscoring the need for stronger revenue mobilisation efforts.

The report noted that West Africa’s real GDP growth was expected to average 4.3 per cent in both 2025 and 2026, slightly lower than earlier projections.

Nigeria, Ghana, and Sierra Leone are expected to grow below the five per cent regional threshold, while other economies in the bloc are set to benefit from stronger domestic demand, new oil and gas production notably in Senegal and Niger, and rising value addition in agriculture.

The report stated: “Real GDP is projected to moderate to 3.2 per cent in 2025 and 3.1 per cent in 2026, as global uncertainty has increased.

“Services and industrial expansion will drive the economy as inflation moderates and higher oil production reaches 1.8 mbpd.

“Inflation is projected to moderate to 24.7 per cent in 2025 and 17.3 per cent in 2026, supported by tight monetary policy. The fiscal deficit is projected to remain at four per cent of GDP. The current account surplus is projected to narrow to 4.7 per cent of GDP in 2025 and 3.9 per cent in 2026, as imports start to normalise.

“The risks to the outlook include rising geopolitical tensions and greater policy uncertainty, volatile commodity prices, lower oil prices, slowdown in reform momentum, insecurity, and adverse weather events.”

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This assurance was given during the visit of the committee to Ports & Cargo terminal in Lagos.

Katung said the purpose of the visit was to understand the issues around port terminal operations by the concessionaires and to proffer solutions to identified challenges for the maritime sector to contribute substantially to the country’s Gross Domestic Product (GDP).

Katung further promised that the committee would liaise with all relevant government agencies connected with the concession renewal for quicker resolution.

The meeting also highlighted broader industry challenges and opportunities, such as implementing single-window cargo clearance systems and developing inland ports to ease congestion in Lagos terminals.

In the midst of political tumult and upheaval, there is a tale of remarkable progress emerging from Nigeria’s telecom landscape. It’s a story that should be celebrated, for it signifies a beacon of hope in a time of widespread despair.

At the helm of this transformative journey is Umar Garba Danbatta, a professor of telecommunications engineering, and the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC).

The numbers tell a compelling story. Since the advent of GSM and the expansion of broadband infrastructure, Nigeria’s telecom sector has attracted a staggering $77 billion in investment. What’s even more impressive is that $39 billion of this sum flowed into the sector during Danbatta’s eight-year tenure as the regulator.

Moreover, the sector now contributes a substantial 16 percent to the nation’s Gross Domestic Product (GDP), a remarkable increase from the 8 percent it contributed in 2015 when Danbatta assumed the role of EVC.

This meteoric rise in the telecom sector reflects the surging demand for telecommunications services across various sectors of the Nigerian economy, from agriculture and commerce to education.

It’s a testament to the resilience and adaptability of the industry, which weathered global challenges like the COVID-19 pandemic and economic recessions while maintaining its bullish stance.

Danbatta credits this remarkable journey to “thorough sustained regulatory excellence and operational efficiency” by the NCC. Indeed, telecom has become a shining example of local content development, with significant growth in digital innovation, human capital development, and skills acquisition among Nigeria’s youth.

This has enabled them to compete on a global stage, earning recognition from multinationals and international agencies alike.

In financial terms, the telecom sector continues to make a significant contribution to the national economy. A report from the National Bureau of Statistics (NBS) indicates that telecom and information services added a substantial N2.508 trillion to Nigeria’s GDP in the first quarter of 2023, representing 14.13 percent.

One of the sector’s forward-looking strategies is the adoption of 5G technology, positioning Nigeria as one of the early adopters in the global digital economy.

This bold move paid off handsomely, generating $820.8 million for the federal government from 5G spectrum license fees paid by operators like MTN, MAFAB, and Airtel.

But that’s not all. The recent launch of Starlink broadband services, a satellite-based wireless broadband offering with nationwide coverage potential, is another feather in Danbatta’s cap. This service, made possible by the NCC’s issuance of a license to Elon Musk-owned SpaceX, is already available in various parts of the country.

Under Danbatta’s leadership, the number of telephone users in Nigeria has surged to 218.9 million, while internet subscribers and broadband users now stand at 159.5 million and 88.7 million, respectively.

These figures, coupled with the creation of jobs, both direct and auxiliary, during a period when other sectors were shrinking, have earned Nigeria the respect of international bodies like the International Telecommunication Union (ITU).

The telecom sector’s growth, as evidenced by its consistent 16 percent contribution to GDP, demonstrates its resilience in the face of socio-economic and political challenges.

It prompts us to ask how such growth was achieved in an environment plagued by erratic electricity supply, ethnic and religious divides, Right of Way (RoW) disputes, fiber cuts, high capital requirements, multiple taxations, infrastructure vandalism, and regulatory hurdles.

The answer lies in Danbatta’s unwavering commitment to innovation and active engagement with stakeholders, all for the betterment of the sector and the nation’s economy at large.

Nigeria can draw inspiration from the telecom sector’s success story. If the goal is to elevate Nigeria into the ranks of the world’s top 20 economies, the federal government must replicate the triumphs of the telecom sector in other industries. Danbatta’s leadership has shown that with vision and dedication, Nigeria can indeed achieve greatness.

In the grand scheme of economic transformation, the telecom sector’s journey under Danbatta’s stewardship has been nothing short of awe-inspiring.

Beyond its undeniable contributions to the GDP and job creation, it has paved the way for profound advancements in entertainment, banking, agriculture, e-commerce, and various primary sector frontiers.

The steady rise in quarterly GDP contribution, now at a phenomenal 16 percent, means that the telecom sector has successfully insulated itself from the socio-economic and political vagaries that have stymied growth in other sectors.

So, how did Danbatta and other stakeholders in the telecom industry achieve this remarkable feat? It’s a question that warrants deeper exploration.

How did telecom transition from mere kilobytes to terabytes in growth, market size, and innovativeness in an environment where electricity supply remains horrendously erratic? How did it rise above the divisive forces of ethnicity and religious affiliations that have plagued the nation’s public discourse and rendered it ineffective?

The telecom sector’s resilience in the face of challenges like Right of Way (RoW) disputes, fiber cuts, high capital requirements, multiple taxations, infrastructure vandalism, and complex regulations deserves a closer look.

The answers to these questions lie in the unwavering commitment of Danbatta and his team to finding innovative solutions and actively engaging stakeholders for the greater good of the sector and the larger economy.

They have demonstrated that a robust regulatory environment, coupled with visionary leadership, can lead to extraordinary growth and prosperity.

Nigeria now stands at a pivotal crossroads. The success of the telecom sector serves as a blueprint for what can be achieved in other industries.

If the vision is to leapfrog Nigeria into the exclusive club of the world’s top 20 economies, then the federal government must replicate the summer success recorded in telecom across various sectors.

Danbatta’s leadership has shown that with dedication, innovation, and visionary leadership, Nigeria can indeed become a global economic powerhouse.