The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Umar Danbatta, has said the investment profile in the nation’s telecommunications sector now stands at 75.6 billion as of 2021.
He said this comprises foreign direct investment (FDI) and local ones.
This is contained in a statement issued by NCC and signed by its Director of Public Affairs, Reuben Mouka.
According to the statement, Mr Danbatta, a professor, gave the data in Lagos on Wednesday during an interactive session with media managers and executives, where he presented his scorecards since he assumed office in 2015.
He said the developments in the telecoms sector have contributed significantly not only to the country’s revenue growth but the socio-economic development of the people.
Growth rate
According to Mr Danbatta, in 2018, the investment profile in the sector stood at $68 billion, which increased to $70.5 billion in 2019 and $72 billion in 2020.
“At the end of 2021,…