Not all doom and gloom in Nigeria telcoms sector

Nigeria telecoms

Nigeria telecoms

LAGOS, (CAJ News) – NIGERIA’S telecommunications industry is projected to defy a contraction and attract investments thanks to vast opportunities in data.

Latest data released by the Nigeria Communications Commission (NCC), the industry regulator, show internet subscriptions stood at 93,6 million in September, representing a year on year (y/y) contraction of 3,6 percent.

In addition, based on the recent gross domestic product data released by the National Bureau of Statistics in the second quarter of the year, contracted by 11,6 percent y/y compared with a growth of 9,4 percent y/y in the corresponding period in 2015.

However, First Bank of Nigeria Capital maintains it is not all doom and gloom.

“Although there is a visible slowdown on a y/y basis in internet subscriptions, going forward we expect to see further investments within the sector due to opportunities in the data segment,” the firm stated on Friday.

FBN Capital recalled earlier this year, the industry’s regulator auctioned 14 slots of the 2.6 GHz spectrum.

The commission is now gearing up to commence the licensing of broadband services on the 5,4 GHz spectrum.

“This is expected to assist with achieving the government’s broadband penetration target of 30 percent by 2018. Broadband penetration is currently 21 percent.

– CAJ News

Short URL: http://cajnewsafrica.com/?p=16506

Posted by on Nov 18 2016. Filed under Broadband, Finance, Finance & Banking, Mobile & Telecoms, Mobile money, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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