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Nigeria’s telecoms investments hit $68b

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Despite the economic downturn, investments in the telecoms sector hit $68billion in July, the former Secretary-General, International Telecommunications Union (ITU), Dr. Hamadoun Toure, has said.

Of this figure, $35billion came as Foreign Direct Investments (FDIs)

Toure, who was keynote speaker at the Nigerian Telecoms Investment Forum at the just-concluded ITU Telecom World 2016 in Bangkok, Thailand, said these successes pointed to the fact that “the country is certainly a preferred destination for telecoms investors in Africa”.

He said the country remained the place to invest because the population is huge,there is political stability and a very dynamic telecoms regulatory regime.

NCC Public Affairs, Director, Tony Ojobo, said the ex-ITU scribe explained that within 15 years when the telecoms sector was liberalised, subscribers have grown from a paltry 400,000 connected lines in 2001, to over 150million connected lines and a teledensity of 107 percent.

The Nation, November 22

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