President Bola Tinubu has directed some Ministries, Departments and Agencies, MDAs, to align regulations and tax frameworks to facilitate investment expansion in telecommunications and broadband infrastructure nationwide.
The directives was given to the Ministries of Communications, Innovation and Digital Economy, Environment and the Federal Inland Revenue Service at a meeting with a delegation from American Tower Corporation, ATC, Nigeria in Abuja on Thursday.
The President decried the bureaucratic pace in permit issuance processing for companies operating in the digital infrastructure sector, but 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.
He lauded the ongoing efforts of the Federal Ministry of Communications, Innovation, and Digital Economy to promote digital connectivity across the nation.
He commended the 3 Million Technical Talent, 3MTT, programme that functions to upskill three million Nigerian youths in digital literacy and innovation through innovation incubators nationwide.
Tinubu outlined ongoing initiatives to establish broadband connectivity in all 774 local government secretariat within six months, leveraging existing infrastructure, such as NIGCOMSAT and Galaxy Backbone’s fibre optic network.
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“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,” he said.
According to him, the specific type of digital education that is needed in the competitive, knowledge-based global economy of the 21st century.
Addressing concerns raised by the delegation regarding the ease of doing business in Nigeria, Tinubu assured of his administration’s commitment to implementing reforms that would eliminate bureaucratic constraints.
The President said that the FIRS would review the request to reduce withholding tax for telecommunications companies and provide a solution beneficial to the investors and Nigerians to stimulate investment in the sector.
“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,’’ he said.
The Chief Executive Officer of ATC Africa, Mr Marek Busfy, had expressed ATC Nigeria’s commitment to expanding its investments in the country, which had surpassed 2.19 billion dollars since its commencement in 2015.
Busfy also emphasized ATC’s commitment to delivering value to subscribers while reducing greenhouse gas emissions associated with its operations.
He reiterated the company’s further investment in Nigeria’s ICT infrastructure to meet the market’s growing demand for data, while lauding the clarity of strategy demonstrated by the administration.
“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 dollars 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 dollars 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,’’ he said.
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