Gbenga Oyebode, the Director, MTN Nigeria, on Tuesday said more collaboration was needed to boost the digital revolution of Nigeria’s telecom market.
Oyebode, the Chairman of a one-day conference in Lagos on Investment in Nigeria’s Telecommunication Media and Technology Market said that the ongoing revolution in the tech sector needed partnership among players to blossom.
The chairman, while x-raying the mobile money market in Nigeria, said that a lot of opportunities were still lying fallow for investors to key in.
He said: “The e-commerce of the economy today has helped to deepen and broaden the economy through interaction geared towards greater returns with less human contacts.
“In 2005, four operators paid 25 million dollars to revolutionise the Nigeria’s telecommunication 17 years down the line as 54 million subscribers are being service.
“That is an indication of greater opportunities in the industry in Nigeria.’’
The convener of the conference, Adeniyi Duale, the Managing Partner, Duale, Ovia and Alex-Adedipe said there was need for proper regulation in the sector in order not to drive young investors away.
Duale said: “In the space of 10 years, we have seen an increase in the number of companies who have got funding from investors. As at 2008, there were about four companies that got funding from investors.
“But today there are about 20 and we are grateful that four are panelists in this event.
“These companies need to be protected with global best practices regulations from their early stage investments growth capital as well exits.’’
According to him, DOA as a legal firm inclined to telecommunication growth; will assist investors in identifying and carry out proper legal diligence on targeted areas of concern.
NAN reports that Synergy Capital Managers, Terragon Group and Wakanow were among the firms that participated in the conference.
Follow The Eagle Online Channel on WhatsApp
