Despite what looks like economic downturn, investments in the fast growing telecommunications sector have been put at $68b as at July, 2016. Of this figure, $35b comes from Foreign Direct Investments (FDIs)

The immediate past Secretary General of the International Telecommunications Union (ITU), Dr. Hamadoun Toure as keynote speaker at the Nigerian Telecoms Investment Forum at the just concluded ITU Telecom World 2016, Bangkok, Thailand said these figures recorded so far in Nigeria point to the fact that “the country is certainly a preferred destination for telecommunications investors in Africa”.



Toure told the audience including Communications Minister, Barr. Adebayo Shittu, Governor of Kaduna State, Malam Nasir El-Rufai, Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar G. Danbatta, members of the Diplomatic Corps, Chief Executives of agencies under the Ministry of Communications and major telecommunications companies from Nigeria, Thailand, Senators and Members of the National Assembly among others that Nigeria is the place to invest because the population is large, there is political stability and a very robust telecommunications regulatory regime.



He explained that within 15 years when Nigeria opened its telecoms sector to the global community, investments have grown in leaps and from a paltry 400,000 connected lines in 2001, the country now has over 150m connected lines and a teledensity of 107 percent.
“The next growth for voice communication is in Quality of Service”
“The new oil in Nigeria is ICT and data transmission is the way to go”.



He was particularly excited that while he served as Secretary General of ITU, Nigeria occupied the number one position as the fastest growing telecoms sector for five consecutive years.




....https://etimesafrica./2016/11/27/ncc-investments-in-telecoms-hit-68b-in-nigeria/