Nigeria, Dec. 9 -- The third quarter of 2024 saw an 87% drop in foreign investments in Nigeria's telecommunications sector, a sharp reduction from the year's first two quarters.

The National Bureau of Statistics (NBS) most recent capital importation statistics support this.

According to NBS data, the sector only brought in $14.4 million in capital imports in Q3, a significant drop from the $113.42 in Q2 investments.

Compared to the $64.05 million recorded during the previous year, the Q3 2024 capital imports for the telecom sector also reflect a 77% decrease year over year.

A brighter year for Nigerian telecoms

The telecom industry has fared better this year than in prior years in terms of foreign investments, notwithstanding the thi...