ICT attracted $1.73bn foreign investment in 3 years


The Minister of Communications, Dr Abdur-Raheem Adebayo Shittu, has said that the information and communication technology sector has attracted $1.73 billion foreign direct investment to the country in the last three years.

He stated also that the Nigeria telephony subscribers have risen from 151million to 173 million.

The minister said this at the valedictory press conference held at the NAF Center, Abuja on Monday.

According to him telephony subscribers stood at 151million in 2015; 155 million in 2016; 145 million in 2017 and 173 million in 2018.

He said during this period the ministry was  able to initiate negotiation on acquiring two new satellites for the country.

“When we came on board NIGCOMSAT only had one satellite, the stage we are now is to engage with foreign companies that will bring the two satellites to the country.

He said in the next six months agreement would have been reached for onward production of the two satellites which will take at least two years to produce by the Chinese company.

“When we get the two satellites it would be able to take the African market to satellites,” he said.

The minister also said that the country broadband penetration stands at 33% as at March 2019.

While acknowledging the minister for his supervisory role at the ministry in last few years, NITDA director-general, Isa Ibrahim Pantami said the sector has achieved a lot during his tenure.

“I do hope the sector is going to build on the legacy of the minister. A lot has been achieved in the IT sector especially the contribution to the GDP in the Q2 and Q3, it is unprecedented in the history of Nigeria.



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