The Nigerian Communications Commission (NCC), yesterday, called on more investors to take advantage of the immense opportunities that abound in Nigeria’s tech space by tapping into its fullest potentials.
The Executive Vice Chairman of the Commission, Prof. Umar Danbatta made this call while speaking during the 2018 Information Communications Technology and Telecommunication (ICTEL) Expo, an event that was put together by the Lagos Chamber of Commerce and Industry (LCCI).
He stated that the Nigerian telecoms sector has so far received as much as $70 billion worth of investment from investors home and abroad. But notwithstanding, there is the need for more investment to harness opportunities that abound, while also ensuring sustained growth.
Danbatta, who was represented at the event by the NCC’s Director for Consumer Affairs, Mrs Felicia Onwuegbuchilam, specifically called on the LCCI and stakeholders in the private sector to work together on this investment drive.
Recall that in general, Nigeria currently has a very positive/vibrant tech ecosystem, including emerging frontiers such as the FinTech which has continued to attract millions of dollars in investments.
Meanwhile, opportunities continue to abound…
The NCC boss had also used the occasion to disclose that Nigeria’s teledensity ratio currently stands at 116%, with over 162 million mobile connections and more than 100 million internet users now active in the country.
Teledensity is the perfect indicator for the telecoms sector growth as it indicates the number of telephone connections for every hundred individuals living within an area. Therefore, for Nigeria with her population of about 200 million, it is not bad to have as much as 162 million mobile phones and a hundred million active internet users.
There are benefits for all
Widespread mobile and internet connectivity are also two of the most basic components towards ensuring efficient automation, hence easier ways of doing things for all. Therefore, aside the returns which investors are most-guaranteed of getting on their investors, they would also be contributing towards making life easier for Nigerians.
Already, the trends are changing as automation, Big Data, Artificial Intelligence, Internet of Things, eCommerce, blockchain technology, and Cloud Computing, etc. are becoming the order of the day. As Prof. Danbatta puts it, “the utmost aim of these digital tools is to redefine how services are delivered to the consumer.”
It is, therefore, in a bid to fast-track these highlighted developments that it has become important for more investors to come onboard. Thier investments are particularly needed to help improve Nigeria’s broadband penetration which Danbatta highlighted as critical towards ensuring success.
“The country has an auspicious target to achieve 30 per cent broadband penetration by year end, which is in line with the National Broadband Plan 2013-2018. In this regards, I am happy to inform you that, so far, and despite teething challenges, we have hit 22 per cent threshold of the target.”– Danbatta
