Huawei Seeks More Funding for ICT Sector’s Education

  • Huawei Seeks More Funding for ICT Sector’s Education

WITH fresh investments and improved standard of education in the Information and Communications Technology (ICT) sector, Nigeria’s economy can witness a major turnaround, Huawei Technologies has said.

It stressed that more emphasis on education from the basic level and opportunities for entrepreneurial youths to embrace ICT will keep the country moving after emerging from its first recession in more than two decades.

Huawei Nigeria Managing Director, Frank Li, who spoke during media interaction, in Lagos, said: “As a foreign investor, my greatest fear in the ICT sector is not the devaluation or the scarcity of dollar, but it’s the uncertainties that cloud the economy. However, ICT has countless potential in developing Nigeria’s Gross Domestic Product (GDP.”

According to him, during the recession, many foreign investors had the fear of shutting down and moving out of Nigeria. “But with increase in international oil price, Nigeria is gradually experiencing more economic fortunes in external reserves, sovereign weight fund and purchasing manager index (PMI), which have restored the confidence of foreign investors to invest in Nigeria,” Li added.

The Huawei chief noted that the company has huge responsibilities in meeting the demands of over 90 million Internet users in Nigeria and also reaching over 200 communities, which house about 40 million people in rural areas, who still don’t have access to basic telecommunication service.

Li further noted that the company has being supporting the government in its various methodologies with the aim of creating more jobs and increasing more revenue for government agencies.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email:

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