Telecoms sector attracts $70b investment

Total investments into the telecoms sector currently stand at $70billion, the Nigerian Communications Commission (NCC) said today in Lagos.

Speaking at the ongoing maiden edition of Nigerian Telecom Leadership Summit at Eko Hotel, its executive vice chairman/Ceo, Garba Dambatta, said aside this massive investment, the sector contributed 9.85% to the Gross Domestic Product (GDP) in Q4 of last year while in cash terms, it contributed N1.9trilion during the period under review.

Nigeria, he said, has more than 63million subscription on broadband while in the voice segment, there are 173million lines as at March this year which translates to 91% teledensity.

Details shortly…