Shittu Says China Has Invested $16 Billion in Nigeria Telecoms

Enterprise Television- Shittu Says China Has Invested $16 Billion in Nigeria Telecoms

Nigeria Minister of Communications, Adebayo Shittu, said Chinese companies have invested over $16 billion in Nigerian telecommunications industry.

He disclosed this in Abuja at a one-day conference organized by the Nigerian Institute of International Affairs, in association with Chinese Embassy and Huawei Technologies tagged “Africa-China Cooperation in Information Technology and Digital Economy: Prospects and Challenges.”

According to the Shittu, the revolution in the ICT sector has provided $32 billion in foreign direct investment over the last 15 years.

He said “As part of that ICT ecosystem and guided by the recognition of the boundless potential of our great nation within the digital economy, Chinese companies have invested over $16 billion to date in fixed assets and facilities nationwide to build and support most network operators in the country.”

Adding that such investments in infrastructure have created an ICT backbone that powers various critical sectors of the economy such as Banking, E-commerce, Insurance, Oil & Gas.

He further said the Chinese tech giant, Huawei Technologies, and China Railway Construction Corporation are collaborating with the Communications Ministry on NIPOST’s e-post project.

“We are committed to providing efficient and multi-functional Post Information system to improve modernization and computerization of NIPOST.”

The Foreign Affairs Minister, Geoffrey Onyeama, commended the China’s support in strengthening Nigeria economic development.

He said Nigeria is committed to continue collaborating with China and other global partners in the field of ICT with a view to attaining a digital economy.

Onyeama, therefore, urged stakeholders in the ICT in Nigeria to contribute more in the context of Public-Private Partnership in developing the sector.

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