Chinese Investments In Nigeria Telecoms Hit $16bn

China’s increased involvement in the African telecommunications industry is part of amultidimensional engagement in the continent to serve its broader strategy to enhance itsglobal standing, counter Western influence and to obtain resources and new exportmarkets to feed its rapidly expanding economy.

The Nigerian Minister of Communication, Dr. Abdur-raheem Adebayo Shittu, yesterday, said Chinese companies have invested over $16 billion in Nigeria’s telecommunication industry.

Dr. Shittu disclosed this in Abuja at a one-day conference on “Africa-China Cooperation in Information Technology and Digital Economy: Prospects and Challenges” organised by the Nigerian Institute of International Affairs (NIIA), in collaboration with the Chinese Embassy and Huawei Technologies.

The minister said the revolution in the ICT sector had provided $32bn in Foreign Direct Investment (FDI) over the last 15 years.

“As part of that ICT ecosystem and guided by the recognition of the boundless potential of our great nation within the digital economy, Chinese companies have invested over $16bn to date in fixed assets and facilities nationwide to build and support most network operators in the country,” he said.

He said the Chinese tech giant, Huawei Technologies, and China Railway Construction Corporation were collaborating with the communication ministry on NIPOST’s e-post project.

Foreign Affairs Minister, Geoffrey Onyeama, commended China’s support in strengthening Nigeria’s economic development.

The Chinese Ambassador to Nigeria, Dr. Zhou Pingjian, restated his country’s commitment to stepping up cooperation with Nigeria in ICT and digital economy within the framework of the Forum on China-Africa Cooperation (FOCAC).