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This research analyses communication FDI and its effect on the development of Nigerian telecommunication industry. The 1999 deregulation introduced the presence of ‘umbrella people’ in almost every corner of the streets, express-roads, pathways in many suburbs and towns across Nigeria. Today, Nigerian economy is one of the targeted countries by multinational telecommunication industries due to its ready market, population size, and growing economy. This research is an ‘ex-pesto’ because it is an evaluation research on FDI and communication sector, but the focus is on the telecommunication subsector.