Since his appointment as Executive Vice Chairman in October 2023, Maida has championed a new era of regulatory discipline, professional excellence, and data-driven oversight—initiatives now earning widespread commendation across industry circles and development partners.
The reforms, strongly backed by the presidency, have been described as merit-based, investor-friendly, and focused on strengthening transparency, compliance, and digital inclusion. Analysts say the structural shifts within the NCC and the broader policy environment may be pivotal in transforming Nigeria’s digital economy from a supportive sector to a primary GDP driver.
Figures from the National Bureau of Statistics (NBS) show that the ICT sector contributed 17.68 per cent to GDP in Q4 2024, with telecommunications alone accounting for 14.4 per cent. This positions the sector as one of the most robust pillars of the national economy—consistently outpacing traditional sectors such as oil, agriculture, and manufacturing in relative growth.
In 2024, telecom sector revenue hit $7.6 billion, with projections from industry analysts estimating an 8 per cent compound annual growth rate (CAGR) through 2028. If sustained, this trajectory will translate to a GDP contribution in excess of $25 billion annually, supported by rising broadband penetration, digital payments, and new technology adoption across the country.
Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), Gbenga Adebayo, described the performance of the sector as a reflection of regulatory direction.
“The sector’s performance in 2024 has been phenomenal… I must appreciate … the regulatory role of the NCC. The Commission and the Minister, Bosun Tijani, have implemented business‑friendly policies that enabled this growth,” Adebayo stated in a report published by Vanguard on June 11, 2025.
His comments echo the sentiments of many operators who have called for sustained policy consistency and faster rollout of enabling legislation to support the momentum.
While Nigeria’s general GDP growth ranged between 0.51 per cent and 5.01 per cent from 2021 to 2024, the telecommunications sub-sector recorded growth rates as high as 16.36 per cent in 2024 and 14.13 per cent in 2023. The sector’s resilience during periods of macroeconomic volatility, analysts say, reflects its growing strategic importance.
A surge in mobile subscriptions from under 300,000 in 2001 to over 169 million active lines today along with a digital payment boom and expanding rural connectivity, are key contributors to this economic footprint.
Complementing regulatory reform is the legislative review of the Nigerian Communications Act (NCA) 2003, currently underway at the National Assembly. The revised framework is expected to address obsolete provisions, reduce regulatory overlaps, and tackle persistent sectoral challenges such as Right of Way (RoW) costs, infrastructure vandalism, and cybersecurity risks.
Stakeholders argue that successful passage and implementation of the amendments will further reduce operational costs for telecom operators, thereby enabling wider coverage, more competitive tariffs, and greater returns to the national economy.
Beyond financial indicators, the telecom sector has also driven significant socioeconomic progress. According to the NCC, the industry supports approximately 2.3 million direct and indirect jobs, while mobile money and USSD banking have helped improve financial inclusion from 56 per cent in 2020 to 64 per cent in 2023.
Broadband penetration reached 48.15 per cent in May 2025, and the digital economy continues to play a critical role in bridging inequality gaps, creating youth employment, and digitising essential services in health, education, and agriculture.
The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, who assumed office in August 2023, has been instrumental in pushing complementary programmes that align with the NCC’s regulatory direction. His flagship “3 Million Technical Talent (3MTT)” programme, launched in November 2023, is targeted at equipping Nigeria’s young population with globally relevant digital skills.
Tijani’s focus on innovation, inclusion, and infrastructure expansion is widely seen as amplifying the regulatory reforms initiated by Maida at the NCC.
As Nigeria’s digital economy deepens, stakeholders say the synergy between effective regulation, enabling legislation, and forward-thinking policy will be crucial in unlocking the next wave of telecom-driven growth.
With projections of a $25 billion annual contribution within reach, the sector may well become the backbone of Nigeria’s transition to a modern, inclusive, and resilient economy.
