The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, called on foreign investors to seize the opportunities presented by Nigeria’s population of over 200 million people and invest in the country’s telecom sector, particularly in broadband infrastructure provisioning. Speaking at the Gulf Information Technology Exhibition (GITEX) 2023 in Marrakesh, Morocco, Danbatta highlighted Nigeria’s stable political and economic conditions.
Represented by Babagana Digima, the Team Lead of the Nigeria Office for Developing the Indigenous Telecom Sector (NODITS), Danbatta emphasized that the NCC is committed to facilitating the development of the telecom industry in Nigeria. Attracting foreign investors is a key strategy to drive further growth in the economy.
Danbatta informed the global stakeholders at the event that the Nigerian government has been highly supportive of the telecom industry, which has experienced significant growth. With over 220 million active mobile voice subscriptions, over 150 million Internet subscriptions, and a 48% broadband penetration rate, there is still untapped potential for full connectivity in the country.
“Our national plan is to achieve 70 percent broadband penetration by 2025. We still have less than 50 percent penetration. This means there is huge investment potential for investors. Nigeria’s telecom sector needs more investment in the area of infrastructure deployment,” the EVC stated.
He stated that the telecom sector in Nigeria has become a major contributor to the country’s Gross Domestic Product (GDP), quarter-on-quarter, driving the growth of the digital economy in the country.
“The importance of this event for us as a Commission is to showcase the NCC as a Nigerian brand, a foremost telecom regulator in Africa and beyond and to bring about the much-needed investment that will enhance the development of the Nigerian telecom industry,” Danbatta said.
The EVC stated that there is abundant talent in Nigeria that can be tapped by investors to support their business operations. “There is abundant human resources waiting to be harnessed by potential investors for ground-breaking global technological innovations and advancement in providing digital solutions.
“This event provides us with the platform to showcase some of the talents that we have discovered in Nigeria. The Commission has sponsored three indigenous start-ups that are at this event to display their solutions for prospective investors and partnerships,” he said.
The GITEX Africa 2023 was the maiden edition of the GITEX Global Summit held in Africa. It is poised to be Africa’s most influential forum to accentuate the vast potential of the tech-driven digital economy. It aims to be an international platform for cutting-edge technology for all players from both the public and private sectors.
Governor of Lagos State, Babajide Sanwo-Olu, and Nigeria’s Ambassador to Morocco, Mansur Bamalli, also spoke in the same direction and commended the Commission for its regulatory prowess which has made Nigeria the next investment destination in Africa.
