Daily Trust (Abuja)

13 September 2012

Nigeria: 'N4 Billion Lost to Attacks On Telecoms Masts'

Photo: Creative Commons
MTN, the continent's largest telecommunication service provider.

The attacks on telecommunications masts in some Northern states will take about N4 billion to fix, former deputy governor of the Central Bank of Nigeria (CBN) Dr Obadiah Mailafia has said.

He spoke yesterday in Abuja at the 10th anniversary of the Konrad Adenauer Stiftung (KAS) foundation and send-forth ceremony for its country Representative, Dr Habil Klaus Paehler who had been in Nigeria for seven years.

Dr Mailafia said the telecoms operators have invested about N2.6 trillion in the sector and that the attacks on their infrastructure was making Nigeria to lose foreign direct investment as well as crippling cross border trades from neighbouring countries which contribute to the local people's economic wellbeing.

In his remarks, the outgoing Dr Paehler said his stay in Nigeria for seven years made him fall in love with the country.

Paehler said the strength of Nigeria was not in its oil and gas resources but in its human resources.

He said "Nigeria has a great future. The oil and gas wealth may be a stepping stone but could as well be a stumbling block."

He said in spite of the gains so far made in human capital development, there remained the need to pay more attention to the education sector especially girl child education in the northern part of the country.

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