Nigeria Business & Finance Updates

NCC charges telcos to double telecom investment to $140bn

NCC charges telcos to double telecom investment to $140bn

The executive vice chairman, Nigerian Communications Commission (NCC), has charged licenced mobile network operators (MNOs) to double their telecom investments to $140 billion over the next 10 years by deploying pervasive network infrastructure across the country.

He said this would help meet the growing demand for affordable and accessible broadband services, promote the growth of businesses across all sectors of the economy and create employment for the teeming youth.

Danbatta, who was principal keynote speaker at the 2019 Telecom Executives and Regulator Forum organised by the Association of Telecommunications Companies of Nigeria (ATCON) in Lagos yesterday, said the $70 billion investment recorded in Nigeria was huge, but it was by no means adequate for one of the fastest growing telecommunications markets in the world.

The telecom regulator, who was represented by Mohammed Babajika, Director Policy Competitors and Economic Analysis Development, NCC said there were over 40 million Nigerians yet to be reached with basic telecom infrastructure and services.

“The capital intensity of the industry, the need for service providers to increase their infrastructure deployment to satisfy the ever-increasing demand, create room for double the size of this investment in the next 10 years,” he said.

Danbatta going further said, “The NCC roadmap for broadband has created new frontiers for investment. The quest for data and social media as well as the increasing value added services create new frontiers for investments. Therefore, the desire for investment in the sector will continue to grow as the size of the network increases.”

Reiterating that robust telecommunications network was important for economic growth, which is achievable through investment. The NCC has consistently provided the enabling environment for growth and a level playing field for competition in the industry.

On eradication of the influx of cloned and fake phones and other telecoms devices in Nigeria, Danbatta stated that NCC has conceived a Mobile Device Management System (MDMS).

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