Some $57.79 million in foreign direct investments entered Nigeria’s telecoms sector in quarter one (Q1) 2022. This is according to the latest capital importation report by the National Bureau of Statistics ((NBS).
According to NBS, the FDI showed a 2.6 per cent increase year-on-year when compared with the $56.28 million the sector attracted in Q1 2021. The NBS data also revealed that the funds attracted by the telecoms sector accounted for 3.67 per cent of the total capital importation in the first quarter of this year, which stood at $1.57 billion.
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