Telecom sector recorded $191.5m FDI in Q1 2024 – NBS

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Abuja, July 2, 2024 – Nigeria’s telecommunication sector generated $191.5 million in Foreign Direct Investment (FDI) in the first quarter of 2024.  

This was reported by the National Bureau of Statistics (NBS) in the latest capital importation data released on Monday.

This is out of the $3.38 billion total foreign investments inflow into the country during the period, up from $1.09 billion recorded in the last quarter of 2023.

The FDI inflow into the telecom sector in the first quarter was against the $22.05 million recorded in the first quarter of 2023 and $57.79 million in the first quarter of 2022.

The sector recorded $134.75 million total FDI in 2023. (GBN)

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