Would you like to receive notifications on latest updates of the following headlines?

Telcos Call for Sustainable Investment,  Regulation Effectiveness to Boost Growth, Devt

POSTED ON May 11, 2024 •   BREAKING NEWS      BY Benedicta Bassey
Telcos/Photo credit: Fintech Future


Telecom operators (Telcos) under the aegis of the Association of Licensed Telecoms Operators of Nigeria (ALTON) have underscored the need for sustainable investment, effective regulation, and a conducive business environment to drive progress in the telecoms sector.

ALTON said the call became pertinent to address the challenges faced by the telecoms sector that are hindering the growth and development of the sector.

Chairman of ALTON, Gbenga Adebayo, said this during his address at the launch of the digital economy report by Groupe Spécial Mobile Association (GSMA), which held in Abuja.

According to Adebayo, the government must make concerted efforts to address the challenges facing the telecoms sector.
He advised that the telecoms sector should not be a palliative to solve economic woes.

The GSMA digital report, launched in Abuja, highlighted the telecom’s eight per cent contribution to Nigeria’s GDP and 13.5 when considering the broader ICT ecosystem. 

The report also highlighted the significant challenges plaguing the industry including investment challenges, right of way, multiple taxation, and regulation.

Adebayo highlighted the existence of over 45 associated charges and levies on operators, despite the supposed removal of right of way costs, saying, that it had posed an unfavorable business environment, discouraging investment and hindering the industry’s ability to deliver quality services.

He also stressed that regulatory interference and the lack of independence for the regulator exacerbate the problem.

“The price review should be a simple regulatory process. The public debate this has gained makes it appear the industry is insensitive to people’s concern. While the government tries to provide incentives for the public on account of ongoing macroeconomic headwinds, the telecoms sector should not be used as a palliative to solve the people’s problem. We must price right to sustain the industry; we must price right to have the right investment,” Adebayo said.

He called for collaboration among stakeholders, policymakers, regulators, and operators, to drive economic growth and fulfill the potential of the telecoms sector as a critical sector in Nigeria’s economy

 

READ ALSO
South-West Demands Five New States and Constitutional Recognition for Traditional Rulers in Ongoing Constitutional Review
BY Abiodun Saheed Omodara July 4, 2025 0

The demand for the establishment of five new states, the recognition of traditional rulers in the co...

READ ALSO
Federal High Court Orders Reinstatement of  Natasha Akpoti-Uduaghan, Calls Suspension "Excessive"
BY Abiodun Saheed Omodara July 4, 2025 0

A Federal High Court in Abuja ruled on Friday that the Nigerian Senate exceeded its authority by sus...

READ ALSO
Calls for Autopsy: Ondo Govt. Faces Pressure to Exhume Late Governor Akeredolu's Body
BY Abiodun Saheed Omodara June 30, 2025 0

The Ondo State Government may need to exhume the body of the late governor, Oluwarotimi Akeredolu, f...

READ ALSO
Tinubu to Discuss Sustainable Governance at BRICS Summit in Rio
BY Abiodun Saheed Omodara June 29, 2025 0

President Bola Tinubu arrived in Vieux Fort, Saint Lucia, on Saturday for the first leg of his two-p...

READ ALSO
Reps Launches Committee to Review CNG Policy Implementation
BY Abiodun Saheed Omodara June 27, 2025 0

The House of Representatives has formed an ad-hoc committee tasked with examining the Federal Govern...

READ ALSO
Nigeria Takes Bold Step towards Energy Independence with Naira-Based Crude Sales Initiative
BY Abiodun Saheed Omodara June 25, 2025 0

The Nigeria Export Processing Zones Authority, alongside the Federal Government’s One-Stop-Sho...

READ ALSO
IPMAN Links Rising Petrol Prices to Crude Oil Costs and Market Dynamics
BY Abiodun Saheed Omodara June 24, 2025 0

ABUJA, Nigeria (NAN) - The Public Relations Officer of the Independent Petroleum Marketers Associati...

READ ALSO
Tinubu Launches National Mechanised Farming Programme to Tackle Food Insecurity
BY Abiodun Saheed Omodara June 23, 2025 0

In a bid to combat food insecurity and encourage youth participation in farming, President Bola Tinu...

OUR CHANNELS:

Ex-D’Tigers coach Brown sets goals for new job
BY Abiodun Saheed Omodara July 9, 2025 0

The former head coach of the Nigerian men's national basketball team, D'Tigers,Mike Brown,has s...


U.S. Reduces Visa Duration for Nigerians to Three Months
BY Abiodun Saheed Omodara July 10, 2025 0

The U.S. Department of State has changed its five-year visa policy for Nigerians applying for non-im...


JAMB Sets 2024 Cut-Off Marks for Tertiary Institutions
BY Abiodun Saheed Omodara July 10, 2025 0

The Joint Admissions Matriculation Board announced the admission cut-off marks for universities, pol...


Federal Government Launches Exclusive Passport Office for Senior Officials
BY Abiodun Saheed Omodara July 10, 2025 0

ABUJA, Nigeria - The federal government on Tuesday, inaugurated a new passport front office in Abuja...


African Democratic Congress Claims Government Coercion to Weaken Opposition Coalition
BY Abiodun Saheed Omodara July 9, 2025 0

The African Democratic Congress (ADC) has accused President Bola Tinubu’s administration of ta...


FG Urges Judiciary to Strengthen Capital Market for Economic Growth
BY Abiodun Saheed Omodara July 9, 2025 0

The Federal Government has called on the judiciary to take a proactive role in strengthening the cap...


Reinventing Nigeria’s Fiscal Framework: A Call for Unity and Responsibility
BY Abiodun Saheed Omodara July 10, 2025 0

President Bola Tinubu has emphasized his government's dedication to allocating sufficient resources...


CBN Mandates Capital Restoration Plans for Banks: A Step Towards Regulatory Compliance
BY Abiodun Saheed Omodara July 8, 2025 0

The Central Bank of Nigeria has instructed banks to provide a capital restoration plan as part of it...


Nigeria Faces Teacher Shortage: Over 31 Million Learners Rely on Just 915,913 Educators
BY Abiodun Saheed Omodara July 9, 2025 0

According to data from the Universal Basic Education, only 915,913 teachers are available for at lea...


Tinubu Calls for Equitable Global Framework at BRICS Summit
BY Abiodun Saheed Omodara July 10, 2025 0

President Bola Tinubu has advocated for a more equitable global framework regarding climate action,...


More Articles

Load more...

Menu