Capital Importation into Telecom Attracts $168.3 Million In Quarter 4 2022

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Capital Importation in Quarter 4 of 2022 is attracted with a total of $168.3 million by the Nigeria'telecommunications Industry.

This is the highest inflow into the sector in the last 8 Quarters, the figure is more than $107.46 million recorded by the sector in the full year of 2021.

The capital Importation data released by the National Bureau of Statistics (NBS), says that the Quater4 figure is also 117.7% growth compared with $77.3 million attracted by the sector in the first quarter of 2022.

At the end of the year 2022, foreign investment in the telecom sector stood at $456.82 million. The total breakdown in capital attracted for 4 quarters of the year is $57.8 million was recorded in Quater 1, $ 153.5 million in Quarters 2, $77.3 million in Quater 3, and $ 168.3 million in Quater 4.

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