Investments in Nigeria’ s telecommunications sector increased by $ 32 bn in the last five years , the Nigerian Communications Commission , announced on Monday .
According to NCC , investments in the industry rose from $ 38 bn to $ 70 bn within the five – year period .
The commission stated this in a statement issued in Abuja by its spokesperson , Ikechukwu Adinde , while announcing the recognition of NCC ’ s Executive Vice Chairman , Umar Danbatta, at this year’ s edition of the Nigeria Tech Innovation and Telecoms Awards for his role in advancing broadband development.
The statement read in part, “ In the last five years , under Danbatta leadership , telecoms investment grew from around $ 38 bn to over $ 70 bn currently , with appreciable remittances in spectrum fees and operating surplus by the NCC into the Federal Government Consolidated Revenue Fund .”
The commission also stated that broadband penetration increased from six per cent in 2015 to 45 . 43 per cent in September 2020 .
It said basic active internet subscription grew from 90 million to 143 .7 million , while active voice subscription increased from 151 million to 205 . 25 million during the same period with tele- density also reaching 107 . 53 per cent as of the end of September.
“ The last five years have seen the number of licensed infrastructure companies increasing from two in 2015 to six currently ,” the NCC stated .
It added , “ The InfraCos are to deploy broadband infrastructure , on a wholesale basis in the 774 Local Government Areas in Nigeria.
