Nigeria's Telecom Forum Advocates for Digital Infrastructure Investment

At the Telecom Sector Sustainability Forum held in Lagos, telecommunications stakeholders in Nigeria called for enhanced investment in digital infrastructure to bolster innovation and strengthen the digital economy. Industry experts, investors, regulators, and technology stakeholders discussed strategies to improve Nigeria's digital infrastructure, emphasizing the need for a revised strategy to attract more investment and foster technological innovation.

They noted that telecommunications now extend beyond basic communication services, supporting critical sectors like banking, online shopping, healthcare, and education. However, challenges such as high infrastructure costs, foreign-exchange pressures, expensive financing, energy costs, and inflation were identified as barriers to expansion.

Experts advocated for the development of stronger local cloud infrastructure to retain data within the country and improve broadband connectivity, which currently stands at about 67% according to NCC data. The stakeholders stressed that a robust digital infrastructure is vital for business growth, innovation, and attracting new investments in Nigeria's technology sector.