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Edun Blames Weak Frameworks, Multiple Taxation as Hindrances to Telecom Sector Growth
Edun Blames Weak Frameworks, Multiple Taxation as Hindrances to Telecom Sector Growth
Oghenevwede Ohwovoriole in Abuja
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, identified weak frameworks and multiple taxation as factors hindering the growth of the telecoms sector.
Edun assured that the government would address the challenges through stakeholder engagements.
He made the disclosure at a Business Roundtable on Investments in Broadband Connectivity and Safeguarding Critical National Information Infrastructure.
The event was organised by Nigerian Communications Commission (NCC) in Abuja on Wednesday, with the theme, “Right of Way and Protection of Broadband Infrastructure: The Road to Success in Broadband Investment and Connectivity.”
The minister, who was represented by Director, Home Finance, in the ministry, Dr. Ali Mohammed, called on the private sector to increase investment in the telecom industry
Edun said, “This sector is virtually vulnerable. It is compact, and therefore we are calling for our local and international investors to come forward so that we can invest in this particular sector. Government alone cannot do it. We need the cooperation and collaboration of the private sector.
“Of course, problems have been identified in terms of connectivity and broadband infrastructure development in Nigeria.”
The minister stated, “These problems are quite many, but they are not something that we cannot sort of solve some of these problems; we have the problem of weak framework, and we have too many taxations
“So, there is need for stakeholders to come together and deal with this particular problem.”
Chairman, Nigerian Governors’ Forum (NGF), Abdulrahman Abdulrazaq, represented by the Director-General of NGF, Abdulateef Shittu, stated that governors were fully in support of the country’s digital transformation.
Abdulrazaq stated, “We fully support the national commitment to raise broadband penetration to 80% by 2027. Achieving this will require an additional 95,000 kilometres of fiber-optic cable across Nigeria, which the minister of Digital Economy has alluded to.”
Executive Vice Chairman (EVC), NCC, Dr. Aminu Maida, stated that the earlier approved increase in telecom tariffs had attracted $1 billion
Maida said, “Earlier this year, the commission approved the application of tariff rates that are both cost-reflective and competitive within the telecommunications industry. This strategic regulatory intervention has significantly strengthened investors’ confidence in the Nigerian telecommunications sector.
“I can confirm to you that operators have made collective commitment to investing over $1 billion in additional rollout investments to expand broadband coverage and capacity nationwide.”
National Security Adviser, Nuhu Ribadu, who was represented by Director I Critical National Assets and Infrastructure Protection Office of the National Security Adviser (ONSA), AVM Enebong Effiom, stated, “The NGF can play a pivotal role by fostering consistency, consensus among states, encouraging compliance through peer engagement, and aligning state policies with national broadband objectives.
“The forum can also facilitate dialogue to all regulated broadband concerns that hinder digital inclusion and infrastructure growth.”
Oghenevwede Ohwovoriole in Abuja Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, identified weak frameworks and multiple taxation as factors hindering the growth of the telecoms
