By Okeoghene Akubuike
A Lagos-based Senior Strategist and Analyst, Mr Lanre Basamta, says sustained investments by Globacom in broadband infrastructure and digital connectivity continue to reinforce the telecommunications sector’s growing contribution to Nigeria’s economy.
Basamta said in a statement on Friday that the telecommunications sector contributed 9.19 per cent to Nigeria’s Gross Domestic Product (GDP) in the first quarter of 2026, underscoring the importance of continued investment by operators in expanding digital access.
According to him, the sector’s contribution came as Nigeria’s economy recorded a 3.89 per cent year-on-year real GDP growth during the period, while the non-oil sector accounted for 96.08 per cent of total GDP, according to figures released by the National Bureau of Statistics (NBS).
He said telecommunications had become a key enabler of economic activities by supporting digital payments, logistics, e-commerce, media, education, remote work and the operations of millions of small businesses.
Basamta noted that Globacom, as Nigeria’s indigenous telecommunications operator, had played a significant role in deepening competition and expanding digital infrastructure since its commencement of operations in 2003.
He said the company’s investments in network expansion and international connectivity, including the Glo-1 submarine cable, had strengthened broadband access and improved connectivity nationwide.
According to him, Globacom’s mass-market reach also connects it closely to Nigeria’s informal economy, where phones increasingly function as shopfronts, payment terminals and customer-service channels.
“Affordable and reliable connectivity can therefore raise productivity even among businesses that do not identify themselves as technology companies.”
Basamta said industry growth would continue to depend on sustained investments in fibre infrastructure, 4G and 5G networks, improved service quality and increased digital literacy.
He noted that broadband penetration reached 55.67 per cent in April 2026, which showed that more Nigerians were moving into data-intensive activities.
According to the analyst, as Globacom approaches its 23rd anniversary, the company has an opportunity to further expand its contribution to the economy by serving small and medium-sized enterprises (SMEs), schools, content creators and enterprises.
He added that such investments would help translate digital connectivity into higher productivity and broader economic inclusion. (NAN)(www.nannews.ng)
Edited by Vivian Ihechu