(3 minutes read)
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, said the total stock of investments in Nigeria’s telecommunications sector, comprising foreign direct investment (FDI) and local capital, has reached US$75.6 billion.
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, said the total stock of investments in Nigeria’s telecommunications sector, comprising foreign direct investment (FDI) and local capital, has reached US$75.6 billion.
Danbatta disclosed this at an interactive session with stakeholders in the communications media ecosystem, in Lagos, recently where he rolled out his scorecards and landmark developments that have shaped the trajectory of growth in the telecoms sector since he became the chief telecoms regulator in August 2015. The figure comprises total investment investments as of the end of 2021.
Read Also:
https://trendsnafrica.com/nigeria-takes-concrete-step-for-promoting-telecom-sector/
According to Danbatta, in 2018, the investment profile in the sector stood at US$68 billion. This increased to US$70.5 billion in 2019 and US$72 billion in 2020. At the end of 2021, the figure rose to US$$75.6 billion. The latest figure is the current official investment profile computed in the industry. Investment in the telecommunications sector in Nigeria is computed from two sources: the Central Bank of Nigeria (CBN) and the financial data obtained from service providers by the Commission.
