NCC reveals scale of investments

12 Dec 2007

Investments in Nigeria’s telecommunications industry have jumped from NGN6 billion (USD50 million) in 2003 to NGN180 billion in 2007, according to Ernest Ndukwe, Vice Chairman of the Nigerian Communications Commission (NCC). Ndukwe told members of the Senate that the country had also made NGN242 billion from spectrum licensing fees in the past five years. He also said the country’s teledensity (including mobile and fixed lines) had increased from 0.4% to more than 27%, which in real terms translates to an increase from 400,000 subscribers to 38 million subscribers.