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Tijani celebrates telecom sector’s FDI surge amid economic reforms

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By Temi Olowu

The Minister of Communication, Innovation, and Digital Economy, Bosun Tijani on Wednesday said that the country’s telecom sector is experiencing a significant boost in foreign direct investment (FDI).

According to data from the National Bureau of Statistics (NBS), the sector received over $191 million in FDI in the first quarter of 2024 alone, surpassing the total FDI for the entire year of 2023.

“This growth in FDI reflects confidence in the potential of our sector and the hard work of all ICT stakeholders in reversing the slowdown, ensuring it remains a catalyst for economic growth,” Tijani wrote on his social media platform, X on Wednesday.

The minister emphasized that this positive trend is a testament to the sector’s resilience and the collective efforts to rejuvenate its performance.

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He also stressed the importance of the reforms and policies being implemented by President Bola Tinubu to stimulate inclusive growth in both the digital economy and the broader economic landscape.

“As we begin the second half of the year, I look forward to building on this momentum,” Tijani added. “The necessary reforms and policies put in place will continue to drive inclusive growth, fostering a robust digital economy.”

The remarkable increase in FDI underscores the strategic importance of Nigeria’s telecom sector in attracting international investment and supporting economic development.

With continued focus on innovation and policy support, the sector is poised to remain a key driver of Nigeria’s economic growth.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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