Business
Nigeria’s Telecom Records Zero FDI
The Nigerian Communications Commission (NCC), said Nigeria has recorded zero capital importation or Foreign Direct Investment (FDI) in the telecoms sector.
Quoting figures for last 2021, the NCC stated that in 2020, it was $417,481,615.30 against $942, 863,833.96 recorded in 2019.
This, it said, translates to a decline of 55.7 per cent in capital importation yearly.
The decline was largely attributed to the outbreak of the COVID-19 pandemic that distorted global businesses and impacted businesses negatively, by the operators.
NCC’s document showed that FDI into the telecoms industry in 2021 was $417,481,615.30 against $942, 863,833.96 recorded in 2019, showing that the industry recorded zero FDI during the whole of last year.
Meanwhile, while the telecom operators blamed the decline in 2019 on the outbreak of COVID-19 pandemic, no reason was given for the zero record of FDI for the whole of last year.
In the same vein, capital expenditure (CAPEX) or domestic investment stood at N408, 151,627,158.62 in 2020 based on submissions from responsive licensees.
The report said CAPEX investment declined by 18.62 per cent due to probable challenges of the global pandemic in 2020.
Operating cost (OPEX) reported was N1,720,547,371,856.01 as at last December while CAPEX stood at N1, 124,116,990,000 as at the end of last year based on submissions from licencees.
Business
Customs Launches Digital Vehicle Verification System To Tackle Smuggling
Business
NDDC Unveils Naval Facilities To Boost Region’s Security
Business
FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
