Telecom Companies Lobby Reps For Investment Friendly Laws, CBN Funding

The Association of Telecommunications Companies of Nigeria (ATCON) has called on the House of Representatives to enact  laws that would create an enabling environment to boost the investment, foster growth and development in the sector.

ATCON also called on lawmakers to drive strategic engagement with the Central Bank of Nigeria (CBN) on behalf of the telecom sector to bridge the infrastructure funding gap via accessible Low-Cost Intervention Funds for the rapid deployment of broadband infrastructure nationwide including in rural areas.

ATCON president, Tony Izuagbe Emoekpere who made the call during a courtesy visit to House Committee on Telecommunications in Abuja yesterday, said this had become necessary as the sector currently contributes over 16% to Nigerian GDP and it serves as a source of employment to many Nigerians.

Emoekpere said special funding concessions should be particularly provided to the telecommunications industry similar to those provided to the manufacturing sector, and the development of a special infrastructure funding scheme for operators.

He said an alternative model practiced by the Nigerian Local Content Management Board for the Local Content Fund in the oil and gas sector which is insurance bank guarantee or equity participation with single digit loans be applied to the sector.

RELATED

Romanian Cuisine: Fresh, Healthy, Full Of Flavour

11 minutes ago

Sjogren’s Syndrome: Managing The Hidden Autoimmune Challenge

1 hour ago

The ATCON president called for a bill to ensure that a Nigerian content plan exists in the industry that provides for the growth of Nigerian players and stimulates demand from the

government side through patronage and digitization of governmental services.

In his remarks, chairman of the committee, Hon. Peter Akpatason, assured ATCON that the panel was ready to provide necessary parliamentary intervention and support when the need arises.

“Your issues and challenges will be heard, and we will work tirelessly to find effective solutions that benefit both the industry and the citizens of Nigeria.

“The committee will organise a legislative – regulator, stakeholders’ forum to get acquainted and to enhance our understanding of the challenges, goals, and aspirations as well as gain valuable insights of the telecommunications sector in Nigeria,” he said.