Investment in the Nigerian telecommunications sector has topped $11 billion within a period of 7 years, President Umaru Musa Yar’Adua said yesterday.
Yar’Adua also said the telecommunications industry in Nigeria has experienced major changes in terms of structure and growth.
According to This Day he described the industry as one of the fastest growing in the world. adding that “the telecommunications sector in Nigeria has witnessed major structural changes and monumental growth in the past few years.
From a teledensity of 0.73 in 2001, to 38.09 in 2008; with an installed capacity of about 95milion; close to 60million active lines with about 60per cent coverage, and quantum investments of $11billion, Nigeria’s telecommunications sector is one of the fastest growing in the world.”
Yar’Adua said this at the sixth Annual Commonwealth Telecommunications Organisation (CTO) Forum in Abuja, yesterday. He said ”these positive indices notwithstanding, the sector is still faced with real challenges. Within the context of our administration’s holistic commitment to physical infrastructural development as outlined in the seven-point agenda, we plan to accelerate ICT infrastructure development with the aim of further boosting the growth of the telecommunications sector.”
Responding, Minister of Information and Communication, Mr. John Odey, said the central theme of the conference: “Ensuring Effective Connectivity for a Socially Inclusive and Commercially Vibrant Africa,” is apt since all Commonwealth countries are individually and collectively taking steps to bridge the digital divide.
According to him, the divide can be bridged when there is “promotion of stable telecommunications policy framework and responsive regulatory regime that will galvanise all stakeholders to participate in the delivery of ICT benefits.”
By ITnewsAfrica.com Reporter
