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Nigeria economy loses N34b to phone imports monthly

Nigeria economy loses N34b to phone imports monthly

LAGOS: Nigeria’s economy is currently losing an estimated N34billion monthly to wanton importation of mobile phones into the country, the Daily Trust has gathered.
The losses, which accrue to the country in form of capital flight has set in due to lack of deliberate policy by government to encourage local phone assemblage.
With over 170 million population, the country has been identified by major phone manufacturers including Samsung, Blackberry, Microsoft-Nokia, Tecno among others from Europe, Middle-East, Asia, China and other developed countries.
While most of the manufacturers have regional offices for West African operation in Nigeria, none has an assembly plant here for their Completely Knocked Down (CKD) mobile devices.
Averages of four million mobile phones are imported into the Nigerian market on a monthly basis, data obtained from the Federal Ministry of Communications said.