Telecoms industry gets $942.8m direct foreign investments

Nigeria’s telecommunications sector welcomed $942.8 million (N358.26 billion) capital inflow, popularly known as Foreign Direct Investments (FDIs), in 2019. The Nigerian Communications Commission (NCC), which disclosed this in the 2019 Subscriber/Network Data, based on Central Bank of Nigeria’s (CBN) confirmation, however, put capital expenditure (CAPEX) – domestic investment – at N494.7 billion.
 
The document, which was premised on statistics from the GSM players and 16 other service providers, revealed that the total operating cost of Mobile Network Operators (MNOs) and other service providers declined from N1.759 trillion in 2018 to N1.756 trillion in 2019, representing about 0.2 per cent drop.
 
Specifically, the major GSM operators – MTN, Airtel, Globacom, and 9Mobile – had an operating cost of N1.461 trillion in 2018 but fell to N1.392 trillion in the year under review. The Fixed operators recorded N3.1 to N3.7 billion during the period…
 
More details through:
https://guardian.ng/news/telecoms-industry-gets-n358b-direct-foreign-investments/