Nigeria is stepping up efforts to attract investment in key sectors, including power, mining, and infrastructure, as part of broader moves to strengthen the economy and drive sustainable growth.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele disclosed this while speaking on the sidelines of high-level engagements involving President Bola Tinubu at the Africa CEO Forum in Kigali.

He noted that the administration is actively promoting Nigeria as an investment destination.

He said the president has taken a leading role in showcasing the country’s economic potential to global investors.

“One very exciting thing about Mr President is that he is never tired of marketing Nigeria; he is the chief marketer for the country,” the minister said, adding that discussions with investors have focused on unlocking opportunities in power, solid minerals, and private sector development.

Focus on investment opportunities

According to the minister, recent engagements have centred on mobilising investment into strategic sectors, including port development, mining, and private enterprise.

He said Nigeria is working to better communicate its economic strengths, noting that previous efforts to present the country’s opportunities to investors had been inadequate.

“We were not telling our stories as we should before now. By telling a credible story, backed by what has been achieved and the commitment to do more, we can attract the right investments,” he said.

Mr Oyedele also spoke on bilateral engagements with the President of Guinea, describing the relationship between both countries as one of mutual cooperation and shared development goals.

He said President Tinubu commended his Guinean counterpart for maintaining ties with the Economic Community of West African States (ECOWAS) despite pressures to withdraw.

According to him, both countries are exploring collaboration in areas such as iron ore development and broader economic partnerships.

“We are stronger together,” the minister said, noting that both leaders expressed satisfaction with the outcome of their discussions.

Reforms and Africa’s growth

Speaking further, the minister said Nigeria’s ongoing economic reforms are beginning to position the country as an example for other African nations.

He acknowledged that while the reforms have been challenging, they were necessary to put the economy on a sustainable path.

“It wasn’t meant to be easy, but it was necessary. Now we are on that track towards realising the gains,” he said.

READ ALSO: Oyedele pledges to transform economic reforms into tangible benefits for Nigerians

Mr Oyedele added that discussions at the Africa CEO Forum focused on scaling economic growth, accelerating implementation, and strengthening institutions across the continent.

He said African leaders are increasingly shifting from policy discussions to execution, with emphasis on financing development, promoting value addition, and stimulating growth in key sectors such as agriculture, manufacturing, technology, and services.

According to him, the broader goal is to drive inclusive growth and lift more Africans out of poverty.

“The time for rhetoric is over; it is now time for execution,” he said, noting that the current period presents an opportunity not only to serve Nigeria but also contributes to the continent’s development.

The Nigerian Communications Commission (NCC) has assured Nigerians that ongoing investments and regulatory interventions in the telecommunications sector are beginning to improve service quality, while warning operators that stricter enforcement measures will continue against poor network performance.

NCC disclosed its plan to improve telecoms services in a statement issued on Wednesday by the commission’s Head of Public Affairs, Nnenna Ukoha.

The regulator acknowledged growing public frustration over dropped calls, slow internet speeds, unstable data services, and network disruptions affecting consumers across the country.

There has been renewed complaints by Nigerian internet users in the previous weeks, who repeatedly lamented deteriorating conditions of services by Nigerian telecoms, which supposedly affected business transactions and other activities.

Subsequently, the Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, issued warning on Monday, that telcoms who failed to improve their services to Nigerians after the government’s efforts to improve conditions to render quality services, will face regulatory actions.

Improvement measures

In its statement on Wednesday, NCC said telecommunications services have become essential to daily life, business, education, and access to critical services, stressing that consumers deserve reliable and high-quality service delivery.

According to the commission, improving ‘Quality of Service’ has remained a key regulatory priority over the last two years. The regulator said it has intensified monitoring of Mobile Network Operators (MNOs), Internet Service Providers, and Tower Companies, while strengthening oversight and collaboration with public institutions to tackle structural challenges affecting service delivery.

The commission disclosed that the telecom sector is currently witnessing one of its largest network expansion and modernisation efforts in recent years after a prolonged period of under-investment.

It revealed that in 2025 alone, MNOs invested more than N2.13 trillion in infrastructure and network upgrades, while tower companies committed an additional N373.8 billion to support sector-wide improvements.

The investments, according to NCC, led to the addition and upgrade of more than 2,800 telecom sites nationwide to improve network coverage and capacity.

The regulator said the interventions included deployment of additional 4G and 5G infrastructure, expansion of fibre backhaul systems, targeted network upgrades in high-demand urban areas, rollout of services to underserved communities, and replacement of outdated equipment.

The regulator added that expansion efforts are continuing in 2026, with operators committing to deploy or upgrade over 12,000 telecom sites in the year.

It noted that nearly 3,000 sites have already been completed, while more than 730 additional 5G sites have been deployed across 27 states.

The commission also said it facilitated the reallocation and restructuring of underutilised radio spectrum among the country’s three major mobile operators to improve network efficiency, capacity, and service quality.

“The deployment of next-generation infrastructure is also accelerating, with more than 730 additional 5G sites already deployed across 27 states so far in 2026.

“In addition, and in line with its Spectrum Trading Guidelines, the Commission has facilitated the reallocation of a majority of idle and underutilised valuable radio spectrum among the three major Mobile Network Operators, while also rearranging spectrum blocks to provide contiguity for operators.

“These interventions are designed to improve spectral efficiency, network capacity, and service performance,” the commission added.

Quality of service

According to its Quality of Service assessments, NCC said there have been gradual improvements in network coverage, capacity, and internet speeds in several parts of the country.

The commission stated that 4G penetration increased from 45 per cent in January 2024 to 54 per cent currently, while national median download speeds rose from 16.5Mbps to 20Mbps during the same period.

“These improvements are most evident in areas where recent upgrades and new site deployments have been completed,” the statement noted.

Despite the progress, NCC admitted that many subscribers still experience poor call quality, slow internet speeds, congestion, and unstable services in some locations, insisting that operators must accelerate improvements.

The regulator further stated that it is advancing plans to create a wholesale broadband market segment aimed at enabling smaller Internet Service Providers to expand affordable internet access nationwide. The initiative is expected to complement government-backed digital infrastructure projects, including Project BRIDGE and other efforts aimed at strengthening Nigeria’s national digital infrastructure.

“However, the commission is equally clear that the pace and consistency of improvement must increase, particularly in locations where consumers continue to experience poor call quality, slow data speeds, congestion, and service instability.

“In alignment with government policy to deepen fibre penetration to homes, businesses, schools, and public institutions, the commission is also at an advanced stage of conducting a market study aimed at creating a wholesale market segment.

“This will enable smaller and more localised Internet Service Providers to expand service penetration and deliver internet services at lower cost,” the regulatory body stated.

Addressing operational challenges, NCC identified fibre cuts, vandalism, theft of telecom equipment, power disruptions, and denial of maintenance access as major threats to network performance.

It revealed that more than 27,000 avoidable fibre-cut incidents were recorded nationwide in 2025 alone, largely linked to road construction activities and vandalism.

The commission said it is collaborating with the Office of the National Security Adviser and other stakeholders to enforce the Presidential Order on Critical National Information Infrastructure and curb attacks on telecom infrastructure.

“Through this collaboration, organised syndicates involved in the theft and resale of telecom equipment have been disrupted, while engagement with Federal and State Ministries of Works is putting in place a governance mechanism to reduce avoidable fibre cuts arising from road construction,” it said.

Transparency, enforcement

To improve transparency, NCC said operators have now been mandated to notify consumers promptly during major service outages and restore services within specified timelines.

The regulator also noted that details of major outages are now published on its reporting portal.

“Details of major incidents are also logged on the Commission’s Major Network Outages Reporting Portal at the time of the incident: uptime.com/statuspage/ncc.”

The regulator, however, warned that enforcement of the updated ‘Quality of Service Regulations 2024’, which began in November 2025, will continue against operators and tower companies that fail to deliver measurable improvements.

“Under the updated Quality of Service Regulations 2024, which were gazetted in July 2024, Mobile Network Operators and Tower Companies were allowed a defined transition period to order, ship, and install required equipment nationwide to enhance service quality. That transition period was not open-ended.

“This enforcement will continue, and where operators fail to deliver measurable improvements, the Commission will take appropriate regulatory action, including escalation where necessary,” the regulator said.

READ ALSO: NCC directs telecom operators to compensate subscribers for poor network service

According to NCC, sanctions may include consumer compensation measures and additional investment obligations where performance failures are identified.

Reaffirming its commitment to protecting telecom consumers, the commission called on governments, communities, and other stakeholders to support efforts to safeguard telecom infrastructure and create an enabling environment for sustained sector investment.

“We therefore call on all stakeholders, across federal, state, and local governments, as well as host communities, to support efforts aimed at protecting telecommunications infrastructure, facilitating timely access for maintenance, and creating an enabling environment for sustained investment in the sector.

“The NCC remains firmly committed to ensuring that all Nigerians enjoy reliable, affordable, and high-quality telecommunications services.

“The expectation is clear: the industry must now deliver measurable improvements, and the commission will continue to enforce compliance in the interest of consumers and the wider economy,” the statement read.