Nigeria secures $4bn telecoms investment from India

By Emmanuel Elebeke

A team of Indian entrepreneurs has offered to invest about $4 billion into the Nigerian telecommunications sector.

The prospective Indian investors struck the deal with the Minister of Communications, Mr. Adebayo    Shittu, at the just concluded  World Summit on the Information Society, WSIS Forum 2017 in Geneva, Switzerland.

The $4 billion telecom investment according to the minister will be centered on rural telephony and grassroots development.

A statement signed by the Special Assistant to the Minister on media, Mr. Victor Oluwadamilare explained that the minister had earlier in one of the business sessions at the summit wooed the investors.

The statement said the minister also informed the Indian investors of  Nigeria’s capabilities.

The two parties according to the statement, are expected to meet next month to fine-tune the necessary modalities.

 

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