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Nigeria`s economy safe haven for telecommunication-ITU`s Boss

By Stephen Odoi-Larbi - Ghanaian Chronicle

The Nigerian economy has best been described as the best growing market for telecommunications in the continent (Africa) in-spite of the numerous challenges facing it, ranging from strikes, corruption and security.

This was made known by the Secretary General of the International Telecommunication Union (ITU), Dr. Hamadoun Toure when he addressed an investor's forum at the ongoing ITU Africa in Cairo, Egypt on Monday.

According to him, people have always created a wrong impression that the Nigerian economy was not conducive for investment, a situation he said was wrong.

He noted that if there were security and corruption problems in the country, a lot of investors would have gone to the country to invest and to explore its opportunities.

He averred that the telecom markets in Nigeria was the best of the investment destination in the region (Africa) and had the potential to achieve great returns in the country, hence the need for investors to continue exploring its opportunities.

Dr. Toure therefore urged investors to discard the negative impression being peddled about the country by the western media but rather to focus on their activities in order to maximize profit.

“Those who spread rumours about security and corruption problems in Nigeria are saying so to stop others from making money in the country,” he said.

He noted that had the economy not been conducive for investment, big companies like Mobile Telecommunications Network (MTN), Celtel and Estisalat wouldn't have ventured into security risk country to do business.

“Figures don't lie. They are the biggest testimonies for how conducive is the Nigerian environment for business and opportunities. If you want to do business in Africa and record good returns on your investments at the right time, I welcome you to come to Nigeria,” Toure told the global investors.