Huwaei technologies has stressed the need for government to provide a stable macroeconomic environment for businesses in the Information and Communications Technology sector to thrive.
Huawei Nigeria Managing Director, Frank Li made this known during a chat with journalists.
“As a foreign investor, my greatest fear in the ICT sector is not the devaluation or the scarcity of dollar, but it’s the uncertainties that cloud the economy. However, ICT has countless potential in developing Nigeria’s Gross Domestic Product GDP.” He said.
According to Li, during the recession, many foreign investors had the fear of shutting down and moving out of Nigeria. The rebound in international crude oil prices however, has led to an increase in the country’s external reserves. The economy has also bounced back from recession, though the recovery remains weak.
He also revealed that the company has huge responsibilities in meeting the demands of over 90 million Internet users in Nigeria and also reaching over 200 communities, which house about 40 million people in rural areas, who still don’t have access to basic telecommunication service.
Li further assured that the company will continue supporting government in its various methodologies with the aim of creating more jobs and increasing more revenue for government
Huawei founded in 1987 by Reng Zhengfei, is the largest telecommunications equipment manufacturer in the world. The company employs about 160,000 staff and made $75 billion as revenue in 2016. Huawei not only produces equipment for telecommunication firms, but consumer devices as well. The company has also set a target of being one of the world’s 5 largest cloud players in the near future