The Nigerian telecom sector has seen an improvement in foreign direct investments this year as it attracted a total of $304 million in the first six months of this year.
The NBS data showed that the sector attracted a $191.
5 million capital inflow in the first quarter of this year, marking a significant 769% increase compared with $22.05 million received in Q1 2023.
While this is lower than the inflow recorded in the preceding quarter, it represents a whopping 339% increase over the $25.81 capital inflow recorded in the same period last year.
No cause for celebration yetHowever, stakeholders in the telecom sector are not excited by the development yet.
Before that, capital inflow into the telecom industry stood at $942.
8 million in 2019, which made the 2021 inflow a decline, when compared with the pre-COVID-19 year...
News articles remains the property of the source. Tellbrief is a news aggregator.
