According to the Nigerian Communications Commission (NCC), Nigeria has registered zero capital importation or Foreign Direct Investment (FDI) in the telecoms industry (NCC). The numbers were from the previous year. According to NCC, in 2020 was $417,481,615.30, compared to $942, 863,833.96 the previous year.
This equates to a 55.7 percent decrease in capital inflow every year. The operators ascribed the drop mostly to the onset of the COVID-19 pandemic, which disrupted global business and badly harmed firms. According to the NCC statement, FDI into the telecoms industry in 2021 will be $417,481,615.30, up from $942, 863,833.96 in 2019.
This meant that the industry received no FDI throughout the whole year. While telecom operators blamed the fall in 2019 on the COVID-19 epidemic, no rationale was presented for the zero FDI records for the entire year.
Similarly, based on responses from relevant licensees, capital expenditure (CAPEX) or domestic investment amounted at N408, 151,627,158.62 in 2020.
According to the analysis, CAPEX investment fell by 18.62 percent as a result of the worldwide pandemic in 2020.
According to licensee filings, operating costs (OPEX) were N1,720,547,371,856.01 in December of last year, while CAPEX was N1,124,116,990,000 at the end of last year.
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