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Hot SourceWeak Frameworks, Multiple Taxation Hindrances to Telecom Sector Growth, Says Edun
Oghenevwede Ohwovoriole in Abuja
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has identified weak frameworks and multiple taxation as factors hindering the growth of the telecoms sector, assuring that the government would address the challenges through stakeholder engagements.
Edun made the disclosure at the Business Roundtable on Investments in Broadband Connectivity and Safeguarding Critical National Information Infrastructure.
The event was organised by the 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 the Director, Home Finance in his ministry, Dr. Ali Mohammed, called on the private sector to increase investments in the Telecom industry
“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. “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,” he said.
Also, speaking, the Chairman, Nigerian Governors’ Forum (NGF), Abdulrahman Abdulrazaq who was represented by the Director General of the NGF, Abdulateef Shittu, stated that the governors were fully in support of the country’s digital transformation.
“We fully support the national commitment to raise broadband penetration to 80% by 2027. Achieving this will require an additional 95,000 kilometers of fiber-optic cable across Nigeria, which the minister of Digital Economy has alluded to,” he noted.
On his part, the Executive Vice Chairman (EVC), NCC, Dr. Aminu Maida, noted that the earlier approved increase in telecom tariffs has attracted $1 billion
“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.”
The National Security Adviser, Nuhu Ribadu who was represented by the Director I Critical National Assets and Infrastructure Protection Office of the National Security Adviser (ONSA), AVM Enebong Effiom, noted that, “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 The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has identified weak frameworks and multiple taxation as factors hindering the growth of
