The Nigeria economy got a huge leap from the telecommunication sub sector in the first quarter of the Year 2024 as the sector raked in whooping sum of $191 million in Foreign Direct Investment (FDI).
This was made known by the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani who was so elated that the sector is doing well in the ongoing year.
Relying on the data from the Nigeria Bureau of Statistics (NBS), the Minister said: “The data from the Nigeria Bureau of Statistics (NBS) continues to show a positive growth trajectory for our sector and economy as a whole.
“With over $191 million in Foreign Direct Investment (FDI) in Q1 2024 alone, we have already surpassed the total FDI into the Telecomunications sub-sector for the whole of 2023.
“This growth in FDI is about confidence in the potential of our sector and a reflection of the hard work that all ICT stakeholders have put in to ensure that we reverse the slowdown in our sector so that it remains a catalyst for growth.
“As we start the second half of the year, I’m looking forward to building on this momentum supported by the necessary reforms and policies that President Bola Ahmed Tinubu is putting in place to stimulate inclusive growth in the digital economy and the broader economy.”
