WITH a $2.24 billion investment in submarine cables in the last five years, telecommunications operators in Nigeria have been adjudged as turning the country into a major stakeholder in that critical sector of industry.

At the last count, four of the companies, including Nigerian Telecommunications (NITEL), have been listed among the operators that have invested huge resources in the undersea cable project.

The General Manager of DDC Networks of Computer Warehouse Group, Mr. Oladipo Raji, who went into the specifics at an Internet Forum in Lagos, named the investments as the landing of the $240 million 7,000-kilometre MainOne cable in June 2010 and the 10,000 kilometres Globacom’s $800 million Glo 1 cable in October of the same year increased the investments.

Raji also put the worth of NITEL’s South Atlantic 3 (SAT 3) at $600 million and the MTN’s West African Cable System (WACS), billed to connect the country in two weeks time, at over $600 million, meaning that the total investments and other expenses rose to $2.24 billion within five years.

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