Nigerian Telecoms See Sharp Decline in Foreign Investments to $14.4m in Q3 2024
Foreign investments in Nigeria's telecommunications sector plummeted by 87% to $14.4m in the third quarter of 2024, from $113.42m in the previous quarter. This marks a significant decline in foreign investment in the telecoms sector.
Foreign investments in Nigeria's telecommunications sector plummeted by a significant margin in the third quarter of 2024, with foreign investment levels dropping to $14.4m, representing an alarming 87% decline from the $113.42m recorded in the previous quarter. This sharp downturn marks a stark reversal of the trend seen in recent quarters, where foreign investments had been steadily increasing. The decline is attributed to various market and economic factors affecting the sector. As a result, the country's telecommunications landscape is facing a severe funding crisis.
