President Tinubu Urges Prioritization of Digital Infrastructure Investments to Promote Business Efficiency and Productivity

President Tinubu Urges Prioritization of Digital Infrastructure Investments to Promote Business Efficiency and Productivity

President Bola Tinubu has instructed the Federal Ministry of Communications, Innovation, and Digital Economy; the Federal Inland Revenue Service (FIRS), and the Federal Ministry of Environment to align regulations and tax frameworks to facilitate investment expansion in telecommunications and broadband infrastructure nationwide.

A statement by Chief Ajuri Ngelale, Special Adviser to the President (Media & Publicity) says the President issued the directive at a meeting with a delegation from American Tower Corporation (ATC) Nigeria at the State House in Abuja on Thursday, expressing dissatisfaction with the bureaucratic pace in permit issuance processing for companies operating in the digital infrastructure sector.

The Chief Executive Officer of ATC Africa, Mr. Marek Busfy had expressed ATC Nigeria’s commitment to expanding its investments in the country, which have already surpassed $2.19 billion since its commencement of Nigerian operations in 2015.

Read Also: Tinubu Appoints New Chief Executives For NCC, NIPOST, Others

Busfy also emphasized ATC’s commitment to delivering value to subscribers while reducing greenhouse gas emissions associated with its operations.

Responding, President Tinubu commended ATC Nigeria for its significant contributions and investments in the country’s ICT sector, highlighting the importance of innovative solutions to bridge the digital divide.

The President lauded the ongoing efforts of the Federal Ministry of Communications, Innovation, and Digital Economy to promote digital connectivity across the nation, particularly the 3 Million Technical Talent (3MTT) programme that functions to upskill three million Nigerian youths in digital literacy and innovation through innovation incubators nationwide.

Read Also: President Tinubu Takes Swift Action: Minister of Humanitarian Affairs Suspended and EFCC to Investigate

President Tinubu outlined ongoing initiatives to establish broadband connectivity in all 774 local government secretariats within six months, leveraging existing infrastructure, such as NIGCOMSAT and Galaxy Backbone’s fibre optic network.

”In the area of ease of doing business, no nation can make progress without paying attention to the opportunities that are right in front of them. We have a vibrant youth population that has successfully innovated without much government support. What now happens in this era when we are providing massive support to their digital economic activities? They will do very well. You are investing in the right place at the right time.

”Considering our population and land mass, we need your investments to ensure that we are ready for a higher level of digital penetration in the telecommunications sector and the specific type of digital education that is needed in the competitive, knowledge-based global economy of the 21st century,” the President said.

Read Also: Tinubu Bestows National Honor, a Plot of Land and Flat to Super Eagles Players

Addressing concerns raised by the delegation regarding the ease of doing business in Nigeria, President Tinubu assured them of his administration’s commitment to implementing reforms that will eliminate bureaucratic constraints.

In response to a request from the delegation for a reduction in withholding tax for telecommunications companies to stimulate investments in telecommunications and broadband infrastructure, the President said the Federal Inland Revenue Service (FIRS) would review the matter and provide a solution that is in the best interest of both the investors and the Nigerian people.

”Every citizen, whether at the corporate or individual level, fights tax. Let us work with the FIRS and see how we can slice the cake. If the country has a good path of growth, it is a greater opportunity for you to invest,” the President stated.

Read Also: Tinubu Announces New Appointments for AMCON, NCC, and NIGCOMSAT

In his remarks, the CEO of ATC Africa reiterated the company’s readiness to invest further in Nigeria’s ICT infrastructure to meet the market’s growing demand for data, while lauding the clarity of strategy demonstrated by the administration, particularly praising the roadmap and efforts of the Honourable Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani.

”Mr. President, what has struck me in Nigeria is the clarity of strategy by your administration, particularly in the ICT sector, and the administration’s 3MTT programme. In the last year, we have invested over $200 million in growing our infrastructure in Nigeria, and we are ready to do significantly more.

”We have employed several hundred people in Nigeria and 25,000 more indirectly. We have paid about $400 million in taxes, both direct and indirect. As an American company, we are often asked about our experience in Africa and in Nigeria, and we want to stress that we are very ethical in our approach to business,” Mr. Busfy said.

Read Also: President Tinubu Suspends Rural Eletrification Agency (REA) Managing Director and Team

Below is how we can help you promote your event, organization and products/services . This is the best you can get from this global platform of over decades experience.

First Leg: Full page Promotional package showcasing your Invitation Card, Banner/Flex, 3 different Photographs and brief of the coming event. Also your picture/Name will be the headline News in digivation blog(Pre-Event)

Second Leg: Full Page Promotional package of the event showcasing 5 different photographs plus short audio/visual clip of the event. Also org. picture/Name will be the headline news our blog(Post-Event).

Rate: N150,000 Only For Both Pre and Post Events. (Rate is only Applicable during the Promotional Period)

For further inquiries, contact the undersigned:

Hilary Damissah (Editor)

Mojisola Alabi ( business Development)


Chief Imo Ukwa(Advert Consultant) 08063779938

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

Damage on Multiple Submarine Fibre Optic Cables Along West Africa Coast

Fri Mar 15 , 2024
The Association of Licensed Telecoms Operators of Nigeria (ALTON) has announced that some subscribers of the network will be experiencing challenges accessing data services as well as low Internet speed as a result of multiple damage to the international undersea cable across east and west africa coastline. In a statement […]

You May Like