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ICT sector: FG declares $1.8bn increment for FDI in 3yrs



Adebayo Shittu

Aminat Isah, Abuja
The Federal government says Foreign Direct Investment in the Information Communication Technology (ICT) sector has moved from $3.2billion dollars in 2015  to $4billion dollars In 2018.
The Minister of communications,  Adebayo Shittu disclosed this at disclosed this in his remarks at the 2018 e-Nigeria Intetnational Conference and Exhibition organised by the National information Technology Development  Agency (NITDA), in Abuja on Monday.
Reiterating the Federal Government’s commitments to growing the contribution of the non-oil sector to the GDP of the nation,  Adebayo said the ICT sector has been identified as a strategic sector that can help in the fulfilment of diversifying away from the oil sector.
Adebayo pointed that the impact of ICTs can be felt in virtually every area of human endeavour as countries are taking advantage of disruptive technologies to transform their economies, hence the need for Nigeria to position herself to be among the key players in the emerging digital economy.
He highlighted some of the initiatives the government has taken as efforts to deepen the role  of ICT in the development of Nigerian economy to include, National ICT Policy, National Broadband Plan, National ICT Roadmap, National e-Government Master Plan, National Addressing System, and Local Content Policy. All through  fostering synergy and sustainable development in the ICT sector.
He said: “For instance, we realize the critical role that broadband plays in the deployment of disruptive technologies and in ensuring that all strata of society enjoy the benefits of ICT.
“This informed our decision to develop a National Broadband Plan with aim of increasing the broadband penetration to 30%, up from a penetration of 10% in 2014. I am happy to inform you that we have been able to achieve a  broadband penetration of 23% and we are not resting on our oars until we achieve our target. With about 160 million active mobile lines and 90 mobile internet subscribers, mobile technologies are fast proving to be a game changer for
deepening our ICT experience as a nation. Data has been widely reported as being the next oil and rightly so.”

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