Investment in Nigeria's telecoms industry over $70 billion in 21 years — NCC

says the telecommunication industry has recorded over $70 billion investment in the past 21 years.

“From $500 million investments in the sector as at 2001, the telecommunications industry has recorded over $70 billion investment till date,” he said. “The sector has provided over 500,000 formal and informal jobs for Nigerians. From an insignificant contribution to GDP in 2001, the telecoms sector, as at the last quarter of 2021, contributed 12.61 per cent to GDP.“While the growth in the sector has been phenomenal, from some 400,000 functional phone lines in 2001 to over 209 million active mobile subscriptions, achieving a teledensity of 110 per cent, as at August 2022,” he added.

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