Nigerian Communications Commission (NCC) has disclosed that the deployment of the Fifth Generation Technology (5G) will generate $13.2 trillion and 22.3 jobs globally by 2035.
NCC Executive Commissioner (Stakeholder Management), Mr Adeleke Adewolu, stated this while speaking at the two-day Talk-To-The-Regulator (TTTR) Forum which ended in Yenagoa, Bayelsa State yesterday.
He said a market study revealed that the deployment of 5G Technology Services will result in $13.2 trillion in global economic value by 2035, generating 22.3 million jobs in the 5G global value chain alone.
Apart from the global value chain of the 5G technology, Adewolu also said the communications sector has been pivotal to the growth and development of the national economy.
In Nigeria, he said, the sector has continually ensured that the digital economy agenda of the Federal Government is established on solid foundations.
He added that it has also proven to be the catalyst for entrenching the activities of both the public and private sector in the digital space, seamlessly.
“A market study has shown that the deployment of 5G Technology Services will result in $13.2 trillion in global economic value by 2035, generating 22.3 million jobs in the 5G global value chain alone,” he said.
On the communications sector he said it “has continually ensured that the digital economy agenda of the Federal Government is established on solid foundations.
“It has also proven to be the catalyst for entrenching the activities of both the public and private sector in the digital space, seamlessly.
‘The communications sector is, indeed, the pace-setter sector as far as the expansion of the frontiers for national development is concerned.
“This was further underscored by the recent deployment of the Fifth Generation Technology (5G) services in the country.
“This we believe will ensure that Nigeria maximises the benefit of the 4th Industrial Revolution, whilst being sufficiently prepared for any attendant risk that may occur,” the NCC Executive Commissioner said.
He further said the Commission has played an effective role in placing the country at a vantage position, in order to reap the benefits.
He attributed the exponential growth of the telecommunications sector to “effective policies, legal and regulatory framework implemented by the Federal Government and NCC.
Adewolu also told stakeholders present at the TTTR that the essence of the Forum was to create awareness about the activities of the Commission as a regulator.
He said it was also obtain feedback from critical stakeholders on how the industry affects their daily lives as well as the role of the regulator in enhancing same.
“It also serves as an educational platform where misconceptions about the Commission and its processes are explained.
“This Forum is thus an opportunity for critical stakeholders to share their respective challenges, experiences and also suggest viable solutions to the regulator.
“Constant engagement with the regulator is the path towards regulatory efficiency as it preserves the integrity of the regulatory instruments issued by the regulator whilst securing the buy-in of all stakeholders,” he added.
The NCC Executive Commissioner, Stakeholder Management, therefore, assured that every view expressed by the stakeholders would be respected and duly considered.
