Chinese stake $16bn in Nigeria’s ICT sector
Staff
Justice Godfrey Okamgba
The bilateral ties between Nigeria and China, especially in the ICT sector, is gathering huge momentum with investment hitting over $16 billion.
Currently, the ICT sector has provided $32 billion in foreign direct investment over the last 15 years, with Chinese companies investing over $16 billion in Nigerian telecommunications industry,
Abdur-raheem Adebayo Shittu, Nigeria’s minister of communications revealed this at a one-day conference on “Africa-China Cooperation in Information Technology and Digital Economy: Prospects and Challenges,” organised by the Nigerian Institute of International Affairs, in association with Chinese Embassy and Huawei Technologies in Abuja.
“As part of that ICT ecosystem and guided by the recognition of the boundless potential of our great nation within the digital economy, Chinese companies have invested over $16 billion to date in fixed assets and facilities nationwide to build and support most network operators in the country.”
He said investments in infrastructure has been an ICT backbone that ignites other critical sectors of the economy such as banking, e-commerce, insurance, as well as oil and gas.
Further, he disclosed that Huawei Technologies and China Railway Construction Corporation are partnering with the ministry on NIPOST’s e-post project.
“We are committed to providing efficient and multi-functional post information system to improve modernization and computerization of NIPOST,” he added.
The Chinese ambassador to Nigeria, Zhou Pingjian, reiterated the commitment of China to stepping up cooperation with Nigeria in ICT and digital economy within the framework of the Forum on China-Africa Cooperation (FOCAC).
“FOCAC summit, billed to hold in September this year in Beijing, China would unveil new measures for China-Africa all round cooperation in the next stage and open up new prospects for common development.-
The Foreign Affairs Minister, Geoffrey Onyeama, applauded the support of China in strengthening Nigeria economic development.
He said Nigeria is committed to continue collaborating with China and other global partners in the field of ICT with a view to attaining a digital economy. He therefore urged stakeholders in the ICT in Nigeria to contribute more in the context of Public Private Partnership in developing the sector.