• Nigeria loses $2.8bn to importation of foreign ICT products – Shittu

    Nigeria loses $2.8bn to importation of foreign ICT products – Shittu

    Barrister Adebayo Shittu, Minister of Communications, said that the federal government was ready to revalidate its directive on the patronage of locally produced ICT products and services by the Ministries, Departments and Parastatal (MDAs) as a means of promoting local content in the sector.

    Shittu disclosed that Nigeria was losing about $2.8billion yearly to the continued importation of ICT hardware and ceding about 70 per cent of the country’s technology market to the foreign brands.

    He decried the attendant capital flights from […]

  • FG relaxes MTN fine to encourage foreign investments, says Shittu

    FG relaxes MTN fine to encourage foreign investments, says Shittu

    Mr Adebayo Shittu, Minister of Communications, had said that the $5.2billion fine slammed on telecommunication giant, MTN, was reduced to encourage foreign investments into the country.

    Shittu said this on Sunday in Ibadan at an award ceremony in honour Chief Lekan Balogun, the Otun Olubadan of Ibadanland.

    He said that the Federal Executive Council (FEC) decided to reduced the penalty against the telecommunications giant after realising the negative impact the burden could have on the nation, its people and the economy.

    The Nigerian […]