Nigeria’s investment in ICT sector hits $70bn – NCC

The Nigerian Communications Commission (NCC) said on Wednesday that investment in the Information and Communication Technology (ICT) sector has hit 70 billion dollars.
The Executive Vice Chairman of NCC, Prof. Umar Danbatta disclosed this while unveiling the Nigeria Pavilion, at the ongoing International Telecommunication Union (ITU) Telecom World 2017 in Busan, South Korea.
According to him, in 16 years since the Digital Mobile Licences (DML) were issued, investment in the sector has hit about $70 billion from a mere $50 million in 2001.
”Most of these investments are Foreign Direct Investments (FDIs).
”Although, we have made very modest progress in the sector, we still need to deepen investments to make broadband pervasive in the country.
”We are at 21 per cent now and our target is to hit 30 per cent by 2018, consistent with the National Broadband Plan,” Danbatta said in a statement.
He said that Nigeria came to the ITU Telecom World every year to tell its story, share its experiences and borrow a leaf from global best practices.
According to him, Nigeria comes to Telecom World to address its concerns, engage and collaborate with the global community to strengthen the growth and impact of the Nigerian Telecoms Industry.