Sunday, 9 October 2016

Using the telecoms sector to boost Nigeria's Gross Domestic Product (GDP)

 As the Nigerian economy goes into recession and the rate of inflation rising, the Nigerian telecommunications sector could be used to return the economy to its former state and regain its lost glory as the largest economy in Africa only if we could tapped into the unlimited resources that the Nigerian telecommunications industry has to offer.
The telecommunications industry contributed immensely to the Gross Domestic Product (GDP) growth of the nation in the past and could still be used to recover the economy from its present recession. Now, Nigeria has been tagged as one the leading nations in telecommunications infrastructural development. With the big players in the industry, like MTN, Airtel, Globacom, Etisalat, the sky is the limit for voice and data communications in the country.
The telecommunications industry in Nigeria has experienced a steady evolution from analog 2G networks to the more sophisticated digital 3G & 4G networks. Researches are currently ongoing into what the future holds. The birth of the 5G networks! It would be the major driving force behind Internet of Things (IoTs) when it is fully operational. Internet of Things (IoTs) simply refers to a technological advancement where  objects like cars, houses e.t.c possess network as well as human. With Internet of Things (IoTs) , the impossible will become possible. For instance, the world is already talking about self driven cars. This can only be achieved with Internet of Things (IoTs) fully in place.
Internet of Things (IoTs) would definitely bring about a revolution in the telecoms industry and the telecommunications companies in Nigeria are not relenting on their efforts to meet up with modern technological trends in the world.
The contribution of telecommunications to improving socio-economic and political development in Nigeria cannot be over emphasized. Telecommunications has definitely made us a better country and we the citizens, a better people!

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