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Investment in Nigeria’s telecoms hits $18b

The Nigerian Communications Commission (NCC) has announced that telecoms investment in the country in the last eight years has exceeded USD18 billion

Foreign direct investment makes up around USD12 billion of the total figure.

Chief executive of the NCC, Ernest Ndukwe, said the level of investment can be attributed to ‘a predictive regulatory environment and supportive government for a deregulated telecoms industry,’ adding that the regulator is keen on attracting further investment to expand broadband internet services across the country.

The NCC is shifting regulatory emphasis from licensing operators to monitoring and improving quality of services and affordability for end users.