Lack of Investment Threatens Nigeria’s 70% Broadband Target

The 70 per cent broadband penetration target set to be achieved by 2025 may flop due to paucity of investment in telecoms infrastructure in Nigeria. Such investment has been declining due to the ongoing foreign exchange crisis, which is affecting further investments in telecom infrastructure. The capacity of operators to invest in equipment has been reduced by declining value of the naira, coupled with consistent decrease in foreign direct investments (FDIs) in telecoms industry.

According to recent data released by the National Bureau of Statistics (NBS), FDIs in telecoms sector experienced a sharp decline of 70.5 per cent in 2023. According to the latest figures from the Nigerian Communications Commission (NCC), broadband penetration in Nigeria was 43.71 per cent at the end of 2023.

Read more at Newtelegraphng

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