The policies that have been introduced have brought some stability,” Kadri said. “The results you are seeing, not just from MTN but from most multinationals that are heavy on FX, have a lot to do with the forex stability driven by the CBN reforms. They’ve done a lot of interventions, and a lot of inflows are coming in now. Even the federal government has increased oil production, and for the first time in years, the forex reserves are great.”
According to the latest industry figures, Nigeria’s telecommunications sector now contributes over 14% to the nation’s GDP, with a market value estimated at $10.8 billion. Active mobile subscriptions stand at 169 million, internet subscriptions at 142.16 million, of which 141.66 million are mobile connections, alongside record broadband penetration.
We need an upgrade
©️The Scope news
