Daily Trust Abuja Zakariyya Adaramola
Displayed with permission from allAfrica.com

The Nigerian Communications Commission (NCC) yesterday said investments in the telecommunications sector have reached $68billion as at July, 2016.

Of this figure, $35bn comes from Foreign Direct Investments (FDIs), according to NCC.

NCC in a statement last night quoted the immediate past Secretary General of the International Telecommunications Union (ITU), Dr. Hamadoun Toure as revealing this at the Nigerian Telecoms Investment Forum at the just concluded ITU Telecom World 2016, Bangkok, Thailand.

It said these figures recorded so far in Nigeria point to the fact that “the country is certainly a preferred destination for telecommunications investors in Africa”. Toure told the audience including Communications Minister, Barrister Adebayo Shittu, Kaduna State Governor, Malam Nasir El-Rufai, Executive Vice Chairman (EVC) of NCC, Prof. Umar G. Danbatta and others that Nigeria is the place to invest because the population is large; there is political stability and a very robust telecommunications regulatory regime.