The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has raised concerns about the potential impact of forex scarcity on job creation within the telecommunications sector.
Read Also: Minister Tijani Unveils Job Creation Plans through Starlink Initiatives
During an industry interactive session with the new Executive Vice Chairman and Chief Executive Officer of the Nigerian Communications Commission, Dr. Aminu Maida, ALTON Chairman, Gbenga Adebayo emphasized the critical need for access to foreign exchange (FX) to facilitate job creation initiatives.
Addressing the Federal Government’s goal of creating two million digital jobs by 2025, Adebayo stressed the importance of being prioritized for FX access. He highlighted that the ability to pay FX obligations and purchase applications could be jeopardized by scarcity, potentially hindering the envisioned job creation.
Read Also: Telcos give FG a seven-day deadline to persuade Kogi to open the facilities or else..
Telecom services heavily depend on foreign inputs, making access to FX a crucial aspect of sustaining operations in the sector. Telcos have previously requested a special forex window to address their FX needs, suggesting intervention measures from stakeholders such as the Central Bank of Nigeria (CBN).
During discussions with the House Committee on Communications, telcos urged collaboration with relevant stakeholders to implement support measures for the telecommunications sector, including the establishment of a special forex window and long-term, low-interest infrastructure funding schemes.
Read Also: Job Creation: Osun Govt Partners NASENI, Gwandu seeks Governors Forum Support for Agency
Financial statements from major telecom operators, including MTN Nigeria and Airtel, highlighted the adverse effects of forex scarcity on their businesses. Both companies expressed challenges in fully benefiting from cash generation and making timely foreign currency payments to international suppliers.
In addition to forex concerns, telcos reiterated the necessity for a price review, emphasizing the current pricing regime’s unsustainability for the industry. Adebayo urged a frank conversation to explore mechanisms for a vital price review that would ensure the sector’s long-term viability.
Read Also: Telecoms Infrastructure Challenges in Focus as ICT Stakeholders Converge
SOURCE: PunchNG
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.
PACKAGE:
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)
Email: digivationtv@gmail.com
Chief Imo Ukwa(Advert Consultant) 08063779938
