Chris Agabi
3 July 2009
Lagos — Mobile banking in Nigeria is expected to contribute at least some $8 billion to Nigeria's treasury by year 2012, Rep Ado Dogo has said.
Dogo, the Chairman of the House of Representatives committee on labour, employment and productivity stated this in Lagos at the Chartered Institute of Personnel Management (CIPM) human resources forum for the telecommunication sector.
He said "mobile money transfer market is expected to create revenue opportunity of almost $8 billion by 2012 from just about $10 million in 2006."
Dogo made the assertion on the heels of raising revenues from the telecoms revolution in Nigeria. According to him, the telecommunications contributed N22.91 billion to Nigeria's DGP in 2007.
He said the sector is also a big contributor to employment creation in Nigeria and the development of micro, small and medium size businesses across Nigeria.
These multiplier effects, he said translates to more revenue for the sector and increased government revenue through taxes.
He however tasked the operators to justify the huge profits by reducing the high cost tariff presently being charged. Also speaking, the President CIPM Dr. Oladimeji Alo explained that the Institute decided to hold HR forum for the telecoms sector because of the phenomenal growth.
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