Home Market Updates Regulator: Nigeria telecoms sector grew FDI to $60b

Regulator: Nigeria telecoms sector grew FDI to $60b

Regulator: Nigeria telecoms sector grew FDI to $60b
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Professor Umar Danbatta, Executive Vice Chairman of Nigerian Communications Commission (NCC) has said that Nigerian telecoms sector is key driver for Foreign Direct Investment (FDI) rise to over $60 billion in 2015.

The NCC EVC said this during a visit of members of the Defence Intelligence Agency (DIA) and Foreign Defence Attachés, to the NCC Head Office in Abuja.

NCC officials with delegates of the Defence Intelligence Agency (DIA) and Foreign Defence Attaches at the NCC Head office in Abuja
NCC officials with delegates of the Defence Intelligence Agency (DIA) and Foreign Defence Attaches at the NCC Head office in Abuja

While welcoming the delegation, Danbatta spoke on the huge investment opportunities that exist in the Nigerian telecoms industry, saying that the liberalisation of the sector by the Federal Government in 2000 led to the increase in FDI from $50 million in 2001 to over $60 billion in 2015.

He highlighted the recent statistics released by the Nigerian Bureau of Statistics (NBS) which showed that the Nigerian Telecoms sector had grown by 1% from the first quarter of 2016 and now contributes 9.8% to Nigeria’s Gross Domestic Product (GDP) in the second quarter of 2016.

The Deputy Director, Foreign Liaison of the Defence Intelligence Agency, Commodore Aliyu Hassan, who led the delegation, thanked Danbatta for receiving the team and commended the Commission for its efforts towards developing the telecom sector and its use of ICT to hinder and stop threats to national security.

The Defence Intelligence Agency (DIA) was established in 1986 to provide an efficient system of obtaining military intelligence for the Armed Forces/Ministry of Defence. The Foreign Defence Attachés were made up of military officers from multiple Nations including Japan, Italy, Mali, Niger, Russia, United States of America and Zambia.

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Success Kafoi Journalist at Technology Times Media. Mobile: 08077671673 email: success.kafoi@technologytimes.ng

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