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European, Chinese investors target Nigeria’s telecoms market

By Adeyemi Adepetun
15 October 2015   |   12:23 am
INVESTMENTS in Nigeria’s telecommunications sector may experience further growth, as there are plans by more European and Chinese investors to come and invest in the country any time soon. The Secretary-General of the International Telecommunications Union (ITU), Houlin Zhao, revealed this on Tuesday, at the on-going ITU Telecoms World 2015, in Budapest, Hungary. Zhao, in…
telecomms- image source africatelecomit

telecomms- image source africatelecomit

INVESTMENTS in Nigeria’s telecommunications sector may experience further growth, as there are plans by more European and Chinese investors to come and invest in the country any time soon.

The Secretary-General of the International Telecommunications Union (ITU), Houlin Zhao, revealed this on Tuesday, at the on-going ITU Telecoms World 2015, in Budapest, Hungary.

Zhao, in his remarks at the Nigeria Day event, a segment of the forum, said both Chinese and European telecoms investors are coming to country for the purpose of participating in the next phase of telecommunications investment in the country.

“Nigeria and other African nations today are not looking for charity; they are looking for partnership and investment opportunities to grow their telecoms sector.

“Chinese and European companies are coming to Nigeria, as my discussions recently with some investors have indicated. I would encourage Nigeria to work harder to lure these potential investors into your country, which is the largest African country. ITU can also be of assistance to you to facilitating this partnership with foreign investors,” he said.

Zhao also noted that the fact that Nigeria is now championing 4G broadband when most developed countries still grapple with 2G is an indication of penchant for increased investment inflow by the country’s regulator.

With over $32 billion investment already recorded in the sector, government officials said Nigeria’s telecoms industry provides huge investment opportunities for local and particularly foreign investors with adequate protection for their investments.

Broadband has been identified as the next growth frontier for Nigeria’s telecoms market, currency rated as the fastest growing in the world.

Speaking earlier at the forum, the Executive Chairman of NCC, Prof. Umar Danbatta, said with over 150 million subscribers, over 107 per cent teledensity, over 90 million Internet users and an increased in telecoms investment from $50 million to $32 billion between 2001 and 2015, “getting more investment into the industry is a very vital area for the industry.”

He noted that the current administration of President Muhammadu Buhari has come with zero tolerance to tackle corruption which, he said, is inimical to investment, saying that the regulator is also making policies that ensure protection for telecoms investment and guarantee better Return on Investment (RoI) for investors.

“If you are an Information and Communication Technology company, Nigeria is a place to be and I can tell you that your investment is secured,” said Danbatta.

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