Nigerian telecoms investments rise by US$32 billion in 5 years

Nigerian Communication Commission (NCC) spokesperson Ikechukwu Aninde, disclosed that investment in Nigeria’s telecommunication sector increased from US$38 billion to US$70 billion in 5 years; while recognizing the NCC’s Executive Vice Chairman, Dry Uman Danbatta, for increasing broadband growth at the Nigeria’s Tech and innovation Award.

Aninde added that broadband penetration increased from 6% in 2015 to 45.3% in September 2020 with Internet subscription rising from 90 million to 143.7 million, while voice subscriptions rose from 151 million to 205.25 million, resulting in a tele density of 107.53% by September 2020. There are also currently 6 licensed infrastructure companies from 2 in 2015, and InfraCos will deploy broadband infrastructure in 774 local government areas on wholesale in order to reach the 70% broadband target by 2025.