October 26, 2016 IBOMLLC Team

China in partnership with Innoson Group invest $1 Billion in the Nigeria ICT sector

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Nigeria first homegrown and biggest automobile manufacturer Innoson Group in collaboration with investors from China are set to invest $1 billion in the country’s ICT sector.

This money will go towards a number of government projects among other salient projects. About $400 million has already been set aside for use in Nigeria’s Digital Switch Over (DSO) by the year 2017. A move that will help Nigeria migrate from the current analog broadcasting to digital via the Digital Satellite TV Station.

A breakdown of this sum shows $300 million to go towards setting up of a local production and supply plant for a minimum of 5-8 million set-top boxes. The remaining $100 million will be used to set up a technology and biggest Direct-To-Home (DTH) Digital BING TV Station across all the Nigerian States.

The BING TV Project is also said will engage the Nigerian Communication Satellite (NIGCOMSAT) with some benefits including foreign exchange earnings. Such as purchasing of locally available goods and services, as opposed to engaging with the foreign vendors of the satellite and transponders.

Vice President, Pro. Yemi Osinbajo, said, “Manufacturing in Nigeria is a …read more

Read more here:: China in partnership with Innoson Group invest $1 Billion in the Nigeria ICT sector

      

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