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SOCIO-ECONOMIC EFFECT OF TELECOMMUNICATION GROWTH IN NIGERIA: AN EXPLORATORY STUDY
ABSTRACT
To what extent has telecommunication contributed to economic growth in Nigeria? Which aspect of telecommunication is more prominent? This paper explores the socio-economic effects of telecommunication in Nigeria measured by gross domestic product using a comprehensive national level data set in Nigeria for a sample period of 11 years (1999-2009). The data for the study were sourced from World Bank Development Indicator Database, Central Bank of Nigeria (CBN) statistical bulletin and Nigeria Communication Commission (NCC) publications. The data were analyzed using Statistical Package for Social Sciences (SPSS). The results showed that telecommunication infrastructure measured by private investment in telecommunication statistically significant and positively correlated with economic growth. However, it was found that telecommunication contribution to GDP has a negative relationship to the economic growth in Nigeria. To this end, the work thus suggested some appropriate policy directions that will guide the government in telecommunication and economic policies in order to promote public as well as private investments in telecommunication, which in turn might further boost economic growth.
Keywords: Telecommunication, Economic growth, Telecommunication infrastructure, Teledensity, deregulation.