Nigeria’s Telecom Sector Presents Lucrative Opportunities
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has urged international telecom companies and potential investors to explore the vast opportunities offered by Nigeria’s population of over 200 million people.
Speaking at the Gulf Information Technology Exhibition (GITEX) 2023 in Marrakesh, Morocco, Danbatta highlighted Nigeria’s stable political and economic conditions, making it an attractive investment destination.
Regulatory Prowess Commended
Governor of Lagos State, Babajide Sanwo-Olu, and Nigeria’s Ambassador to Morocco, Mansur Bamalli, also praised the NCC for its regulatory prowess, which has positioned Nigeria as a prime investment hub in Africa.
The Commission’s commitment to facilitating the development of the telecom industry and attracting foreign investors has contributed to the sector’s growth.
Investment Potential and Growth Targets
Danbatta emphasized the need for more investment in Nigeria’s telecom infrastructure, considering the country’s current broadband penetration rate of 48 percent.
With the national plan targeting 70 percent broadband penetration by 2025, there is a significant investment potential in infrastructure deployment.
The telecom sector has already become a major contributor to Nigeria’s GDP, driving the growth of the digital economy.
Promoting Nigeria’s Talents and Indigenous Solutions
The EVC highlighted Nigeria’s abundance of talented individuals who are ready to contribute to groundbreaking technological innovations and digital solutions.
He showcased three indigenous start-ups sponsored by the NCC at the GITEX Africa 2023 event, providing a platform for these talents to connect with prospective investors and form partnerships.