Private investment set to top USD4 billion

6 Jun 2003

The head of the Nigerian Communications Commission (NCC) Engr. Earnest Nduke has suggested that private investment in the country’s telecoms sector could top USD4 billion by the end of this year. Mr Nduke added that the upturn in foreign investment was the product of the NCC’s relaxed stance towards using sanctions against operators. The regulator is keen to attract foreign investment and been at great pains to not dissuade private investment by appearing overly draconian. As a result, he argues, private investment has grown from USD50 million in 1999 to USD2.1 billion in 2002.