TELECOMMUNICATIONS

Nigeria’s telecommunications sector is one of the fastest growing in Africa and has attracted significant investment in recent years, providing communication services to individuals and businesses.  The sector accounts for about 10% of GDP and has created numerous employment opportunities. The sector is dominated by private telecommunications companies, but there are opportunities for investment in broadband infrastructure and digital innovation. However, the sector faces challenges such as poor infrastructure and high costs of service provision. Opportunities for investment in the sector include 5G technology, digital payment solutions, cybersecurity, network expansion, broadband penetration, and value-added services. Nigeria’s telecommunications trade value is significant, with investments from local and international telecommunications companies and mobile phones being one of the country’s top export products. Competitive advantage in this sector includes a large and growing market, a young and tech-savvy population, a need for improved communication services and a supportive regulatory environment. Shared value in this sector includes increased connectivity, job creation, and economic growth.