The Nigerian Communications Commission (NCC) has said the complete investment in the Nigerian telecom industry is presently estimated at $70 billion.
The Executive Vice Chairman (EVC), NCC, Prof. Umar Danbatta revealed this on Thursday in Lagos, during the Nigerian Telecom Leadership Summit 2019.
He revealed that the figures from the National Bureau of Statistics (NBS), at the 4th Quarter 2018, showed contributions of Telecommunications and Information Services to Gross Domestic Product (GDP) was about N1.9 trillion.
His words, ”Investors, on the other hand, are not attracted to environments where returns are in doubt.
”In a very capital-intensive industry like telecom, investors are looking for both a very friendly investment climate and predictable outcomes.
”They are interested in an environment where the regulator is independent, fair, firm, forthright and where such attributes like professionalism, responsiveness and transparency are part of its core values.
”These are what we are striving to achieve in our regulatory environment in Nigeria.
”But we are not unaware of the daunting tasks ahead. This is why we consider consultations with the stakeholders as a critical success factor in our regulatory mandate.”
”We are also aware of several emerging technologies, which may continue to drive innovations and investments.
”It is our commitment to follow the trends of these developments, so as to leverage on the best regulatory approaches to optimise their potentials for the benefit of Nigeria.
”The leadership of the Nigerian Communications Commission has taken a deep and predictive look at the financial health of our industry and the aspiration of Nigeria in the context of the 4th industrial revolution.
”We have looked at the potentials of emerging technologies, the global movement and demand for expanded frontiers of availability, accessibility and affordability of all the ICT drivers and enablers of economic growth.
”We have looked at broadband infrastructure and services; the dynamism of growth, among other things, and reached a conclusion that investments are very critical for our future growth.”
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