Telecoms sector attracts $68bn foreign direct investment


The Nigerian telecoms sector has attracted $68 billion to the economy in Foreign Direct Investment (FDI), the Nigerian Communications Commission (NCC) revealed onTuesday.

The NCC Executive Vice Chairman/CEO, Umar Dambatta, said this at a sensitisation workshop in Lagos.

Dambatta, who spoke on code of corporate governance for the telecom industry, said these achievements were accomplished in spite of the recession ravaging the economy.

The NCC boss also said the sector’s contribution to the Gross Domestic Product, GDP, has increased to 9.8 per cent.

This, according to him, has enabled other sectors of the Nigerian economy to develop.


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