Nigeria’s telecommunications industry attracted $3.9bn in foreign portfolio and direct investments between 2015 and 2020, according to a new report by Agusto & Co.
The credit rating agency, in its 2021 Telecommunications Industry report, said, “Between 2015 and 2020, foreign investments (portfolio and direct) attributable to the telecommunications industry amounted to $3.9bn, an average of seven per cent of Nigeria’s total capital importation during the same period.
“The industry has consistently remained one of the top five ranking economic sectors for foreign investments during the period…
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