Abuja: The Minister of Finance, Wale Edun, highlighted that weak frameworks and multiple taxation are significant barriers to the growth of the telecom sector. Edun made these remarks during a Business Roundtable on Investments in Broadband Connectivity and Safeguarding Critical National Information Infrastructure, held in the city.
According to News Agency of Nigeria, the event was organized by the National Communications Commission (NCC) and focused on the theme: ‘Right of Way and Protection of Broadband Infrastructure: The Road to Success in Broadband Investment and Connectivity’. The Minister, represented by Dr. Ali Mohammed, Director, Home, Ministry of Finance, called for increased private sector investments in the telecom industry, emphasizing the need for stakeholder engagement to address existing challenges.
Edun pointed out the sector’s vulnerability and compact nature, urging both local and international investors to contribute to its development. He stressed that government efforts alone are insufficient and that collaboration with the private sector is essential. The issues related to connectivity and broadband infrastructure in Nigeria have been identified and, according to him, are surmountable through collective action.
The Chairman of the Nigerian Governors Forum (NGF), Abdulrahman Abdulrazaq, underscored the importance of broadband connectivity as a crucial infrastructure component and the backbone of Nigeria’s future social and economic prosperity. Represented by Abdulateef Shittu, Director-General of the NGF, Abdulrazaq reiterated the commitment to increasing broadband penetration to 80 percent by 2027, a goal which requires an additional 95,000 kilometers of fiber-optic cable across the nation.
Dr. Aminu Maida, Executive Vice-Chairman of the NCC, reported that the earlier approved increase in telecom tariffs had successfully attracted $1 billion in investments into the sector. He stated that the commission’s strategic regulatory intervention has bolstered investor confidence, leading operators to commit to over $1 billion in additional investments to enhance nationwide broadband coverage and capacity.
Furthermore, the National Security Adviser, Nuhu Ribadu, through AVM Enebong Effiom, emphasized the role of the NGF in fostering consistency and consensus among states, encouraging adherence to security measures and aligning state policies with national objectives.