Telecom
Investments in Telecoms Hit $68Bn in Nigeria
Despite what looks like economic downturn, investments in the fast growing telecommunications sector have been put at $68b as at July, 2016.
Of this figure, $35 billion comes from Foreign Direct Investments (FDIs)
Dr. Hamadoun Toure, immediate past secretary general of the International Telecommunications Union (ITU), as keynote speaker at the Nigerian Telecoms Investment Forum at the just concluded ITU Telecom World 2016, Bangkok, Thailand said these figures recorded so far in Nigeria point to the fact that “the country is certainly a preferred destination for telecommunications investors in Africa”.
Toure told the audience including Communications Minister, Barr. Adebayo Shittu, Governor of Kaduna State, Malam Nasir El-Rufai, Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar G. Danbatta, members of the Diplomatic Corps, Chief Executives of agencies under the Ministry of Communications and major telecommunications companies from Nigeria, Thailand, Senators and Members of the National Assembly among others that Nigeria is the place to invest because the population is large, there is political stability and a very robust telecommunications regulatory regime.
He explained that within 15 years when Nigeria opened its telecoms sector to the global community, investments have grown in leaps and from a paltry 400,000 connected lines in 2001, the country now has over 150m connected lines and a teledensity of 107 percent.
“The next growth for voice communication is in Quality of Service. The new oil in Nigeria is ICT and data transmission is the way to go”.
He was particularly excited that while he served as Secretary General of ITU, Nigeria occupied the number one position as the fastest growing telecoms sector for five consecutive years.
Toure told current and potential investors that the Nigerian Communications Commission (NCC) has done a very good job with the way it has managed regulatory activities transparently and by the fact that law makers from Nigeria were also part of the audience he spoke to at the venue, underscored the importance Nigeria attaches to this sector.
He said he is more Nigerian than his native Mali because Nigeria has always led the way, adding “Nigeria should share its experience with other African countries”.
While assuring existing and potential investors in Nigeria of Government support and protection at all times, Shittu, who spoke on behalf of President Muhammadu Buhari said since Nigeria was now navigating from resource based to knowledge based economy, “we want to encourage you (the investors) to renew your confidence in our country”.
“Feel free to come to Nigeria and if visa is an issue let us know. Our doors are open and the ease of doing business in Nigeria is being improved upon”
Governor El-Rufai, who served as panelist at the forum alongside Prof. Danbatta, EVC of NCC, Ms. Funke Opeke of MainOne Cable, Mr. Ibrahim Dikko of Etisalat said technology as an enabler has helped Kaduna State to reduce land fraud and tax payments are now done online thus reducing incidents of leakages.
El-Rufai, a former Minister of Federal Capital Territory told the audience that Kaduna will soon launch Smart Kaduna initiative and has contacted a major Smart phone manufacturer to introduce pocket-friendly smart phones to Kaduna to boost the smart Kaduna Initiative.
NCC boss, Danbatta told the audience that the regulator has begun digital transformation through the National Broadband Plan (NBP 2013 – 2018).
The NCC boss explained that since broadband is the catalyst for social and economic transformation, “we have come to let the global community know that investments are welcome in this area”.
He said, the target is 30 percent by 2018 according to the NBP 2013 – 2018.
Although Nigeria has hit 21 percent so far, investments will be needed for 3G, 4G and to take services to underserved and unserved regions of Nigeria, “and we need to deploy infrastructure to those areas that have no services, we understand that and the strategy to address them hence we came out with the 8-point agenda to address this”.
Danbatta told the audience that Nigeria has a very flexible regulatory environment and “we are fare, firm and forthright in our activities”.
CEO of MainOne Cable Company, Ms. Funke Opeke said MainOne Cable has keyed into the National Broadband Plan and hence investments in the Infrastructure Company (Infraco) licence for Lagos to take broadband services to Small and Medium Enterprises (SMEs), Corporate organisations through metropolitan fibre optic links.
“we are building over 1,000km of fibre optic in Lagos and this is part of the building block to encourage broadband penetration”.
Dikko whose company, Etisalat, has over 20million subscriber base said that Etisalat is encouraged to invest in Nigeria because “laws are very clear, policy is good because the NCC hears us out all the time”.
In his contribution, Vice President, New Consumers at MasterCard, Mr. Anand Menon praised Nigeria’s ICT sector for creating an enabling environment for business to grow.
“We at MasterCard believe in Nigeria” Menon added.
ntel, has officially moved away from its traditional voice and data business, unveiling a major transformation that will see it focus on digital infrastructure, artificial intelligence and technology-driven services.
As part of the consolidation process, ntel unveiled The Next Frontier, a transformation agenda planned to see the firm transform into an integrated digital infrastructure, connectivity and real estate enterprise.
Its new focus is a now BET Agenda – anchored on three growth pillars, Beam, Eden, and Titan and the drivers said that the strategy reflected ntel’s commitment to creating new opportunities through technology innovation, infrastructure development, and strategic asset optimisation.
The launch comes as ntel continues its journey towards regaining spectrum assets, while actively leveraging strategic partnerships to redefine innovation in the telecommunications industry and unlock new pathways for growth.
Built on the company’s BET Agenda – anchored on three growth pillars, Beam, Eden, and Titan – the strategy reflected ntel’s commitment to creating new opportunities through technology innovation, infrastructure development, and strategic asset optimisation.
The launch comes as ntel continues its journey towards regaining spectrum assets, while actively leveraging strategic partnerships to redefine innovation in the telecommunications industry and unlock new pathways for growth.
The company also showcased a portfolio of initiatives designed to strengthen its position as a future-focused infrastructure platform.
Under Beam, ntel announced the launch of WakaGo, a global e-SIM solution that delivers seamless connectivity for international travellers, alongside AirFibre, a high-speed fixed wireless broadband service designed to provide reliable internet access for businesses.
Under Titan, the company highlighted its growing infrastructure business focused on tower development, fibre connectivity, duct infrastructure, colocation services, and infrastructure sharing solutions that enable operators, enterprises, and technology providers to expand efficiently and sustainably.
A major highlight of the launch was Eden, ntel’s real estate development platform, which is transforming NatCom’s extensive property portfolio into high-value commercial and residential developments.
To further push its transformation, the company unveiled three flagship projects. They are Eden Place, a premium multi-storey commercial development in Lagos’ prime business district.
There is also Nova Place, a modern commercial development strategically located within Port Harcourt’s growing technology and business hub.
Terenna Court, a premium multi-storey residential apartment development in Abuja.
Together, these projects demonstrate ntel’s ambition to unlock the full potential of its real estate assets through strategic partnerships, innovative design, and long-term value creation.
Speaking at the unveiling of The Next Frontier, Soji Maurice-Diya, managing director/chief executive officer, NatCom Development and Investment Limited (trading as ntel), described the initiative as far more than a business transformation strategy.
According to him, it represents the company’s commitment to building an integrated ecosystem that connects people, empowers businesses, drives digital inclusion, and creates sustainable economic value for Nigeria.
Airtel Africa Foundation, through Airtel Nigeria, has reaffirmed its commitment to developing Nigeria’s future workforce with a high-impact virtual masterclass designed to equip young people with the practical skills required to thrive in an increasingly technology-driven economy.
The Initiative, held to commemorate World Youth Skills Day 2026, themed “Skills for a Shared Future – The NextGen Advantage,” presented a platform on which experienced Airtel professionals provided mentorship and coaching to undergraduates, interns, and recent graduates for the current realities of formal work environments.
Organised on the auspices of the Airtel Employee Volunteer Programme (EVP), by which staff donate their time and expertise towards social programmes, the 90-minute virtual masterclass, which was attended by over 400 undergraduates and young professionals, extended the reach of the Foundation’s education and youth development programmes.
Speaking on the initiative, Chief Executive Officer of Airtel Nigeria, Dinesh Balsingh, said investing in young people remains one of the most impactful ways to build Nigeria’s future economy.
He said, “The future of work is changing faster than ever before, and success will increasingly belong to those who are equipped with the right skills, the right mindset, and the confidence to adapt. As an organisation, we believe that empowering young people with practical digital and professional capabilities is an investment in Nigeria’s future competitiveness.
Through our Employee Volunteer Programme, our people are sharing not just knowledge, but real industry experience to help shape careers, unlock opportunities, and prepare the next generation to lead in a digital world.”
Unlike traditional career seminars, the masterclass adopted an interactive learning model that offered participants the option to select specialised breakout sessions aligned with personal interests and career aspirations.
In his keynote remarks titled The Next Gen Advantage, Director, Corporate Communications and CSR, Airtel Nigeria, Femi Adeniran, noted that the future will be shaped by the skills to transform great ideas into impactful solutions.
He summed up the pathway to a future-ready career into five actions, namely learning continuously, solving problems, building a digital reputation, embracing Artificial Intelligence, and developing human skills.
“Technical knowledge remains important, but employers today are equally looking for adaptability, collaboration, communication, digital confidence, and the ability to learn continuously,” he said.
In the first general session titled Your Network is Your Net Worth, Adebimpe Ayo-Elias, Director, Human Resources and Administration, Airtel Nigeria, charged attendees to build character. The second general session themed Your Money, Your Future, delivered tips on budgeting and financial discipline was facilitated by Olakunbi Osigbesan, Head, Treasure, Smartcash PSB.
Following the general sessions were five breakout rooms, in which attendees were offered curated guides designed to develop contemporary workplace competencies.
The first session, Digital Transformation and Growth, led by Oyebowale Akideinde, General Manager, Digital and Innovation, Airtel Nigeria, presented a mechanism to leverage digital platforms for visibility and opportunity creation.
The CV Clinic and Interview Masterclass, which was led by Chidera Okoye, HR Outsourcing Lead, Airtel Nigeria, discussed practical recruitment strategies, including applicant tracking system (ATS)-friendly CVs, and the STAR interview framework.
A third session on Communication and Personal Branding, delivered by Sam Adeoye, Head, Public Relations, Airtel Nigeria, focused on value presentation, executive communication, and earned visibility, built on “V.I.R.A.L.”, a mnemonic device created for the attendees by the facilitator.
The programme also featured a dedicated session titled AI as Your Superpower, presented by Ezenwa Agbanusi, IT Governance Executive at Airtel Nigeria, in which participants discussed prompt engineering and AI-powered tools for enhanced learning, creativity, and workplace performance.
Corporate Social Responsibility Lead at Airtel Nigeria, Victoria Ndu, led the fifth breakout room on Emotional Intelligence, with a guide on building a high emotional intelligence quotient (EQ) for improved workplace and business performance.
By connecting future professionals directly with industry experts, the company continues to support the development of a workforce equipped to participate meaningfully in Nigeria’s rapidly evolving digital economy and contribute to shared prosperity.
U.S. ride-hailing giant Uber has agreed to acquire German food delivery company Delivery Hero in a deal valued at €12.7 billion ($14.6 billion), marking one of the largest transactions in the global food delivery industry.
Uber
The companies announced the agreement on Thursday, with Uber offering €41.50 per share for Delivery Hero, a Berlin-based company that has grown into one of the world’s largest online food delivery platforms.
Despite the announcement, Delivery Hero’s shares declined by 0.5 per cent in Frankfurt trading to €37.90.
Founded in 2011, Delivery Hero operates in more than 60 markets across Asia, Europe, Latin America and the Middle East.
The company has expanded beyond traditional restaurant delivery services into quick commerce, providing rapid delivery of groceries and other consumer goods.
Under the agreement, Uber will acquire Delivery Hero’s operations in 50 markets globally.
As part of the transaction, U.S.-based investment firm SSW Partners will acquire Delivery Hero’s businesses in 14 additional markets where the German company and Uber currently compete. The transaction is valued at approximately €1.4 billion.
Delivery Hero Chief Executive Officer and co-founder, Niklas Östberg, said the partnership would strengthen the company’s long-term growth by combining its local market expertise with Uber’s global technology and delivery platform.
“Uber’s global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero’s strengths in local food delivery and quick commerce,” Östberg said.
Uber Chief Executive Officer, Dara Khosrowshahi, said the acquisition would expand the company’s delivery operations while creating new opportunities for merchants, consumers and delivery workers.
“A merger would extend affordable, reliable delivery to many millions more people in some of the world’s most dynamic economies, while creating more opportunities for merchants and couriers,” he said.
Delivery Hero’s management has unanimously recommended that shareholders approve the offer.
The companies said the transaction remains subject to shareholder approval and regulatory approvals, with completion expected in the second half of 2027.
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